Sensex ends at fresh closing high, up 251 pts, Nifty settles near 10,900


Benchmark indices ended at fresh closing highs for a third straight session on Friday, led by financial stocks amid improved investor sentiment after the government decided to cut tax rates on certain products and services.

The S&P BSE Sensex ended at 35,511, up 251 points while the broader Nifty50 index settled at 10,894, up 77 points.

ICICI Prudential Life said profit in Q3 grew by 0.5 percent to Rs 452.1 crore against Rs 450 crore reported in year-ago. Net premium income jumped 19.3 percent to Rs 6,795 crore from Rs 5,697 crore YoY.

PC Jeweller today reported 52 percent increase in its net profit at Rs 162.71 crore for the quarter ended December on higher sales and profit margins. The company, which has 84 retail jewelry stores across the country, had posted a net profit of Rs 106.97 crore in the year-ago period, the company said in a regulatory filing.

Private sector lender IDFC Bank said its profit for the quarter ended December 2017 declined 23.6 percent to Rs 146.1 crore, compared to Rs 191.3 crore in year-ago. Profitability was hit by lower net interest income, other income and operating income; but was largely supported lower provisions. Net interest income, the difference between interest earned and interest expended, fell 5 percent to Rs 495 crore compared to Rs 521 crore in year-ago. Asset quality worsened during the quarter. Gross non-performing assets (NPAs) as a percentage of gross advances were sharply higher at 5.62 percent against 3.92 percent in previous quarter and net NPA was also higher at 3.52 percent in Q3 against 1.61 percent in Q2FY18.

Kirloskar Oil Engines shares gained 3 percent after profit in Q3 increased 40.5 percent to Rs 39.5 crore from Rs 28.1 crore YoY. Revenue from operations rose 6.8 percent to Rs 684.6 crore while operating profit grew by 10.7 percent to Rs 64.1 crore and margin expanded 40 basis points to 9.4 percent.

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Sensex, Nifty end at fresh record closing high; Midcap underperforms


Benchmark indices ended at fresh record closing high today, backed by ICICI Bank, Reliance Industries and HDFC.

The 30-share BSE Sensex was up 88.90 points at 34,592.39 and the 50-share NSE Nifty gained 30.10 points at 10,681.30, but Midcap index underperformed.

Investors, however, remained wary as four senior sitting judges of the complaint that Supreme Court as administration of the country’s top court was not in order.

KEI Industries shares rallied 10 percent as Motilal Oswal has initiated coverage with Buy rating on the stock and target price at Rs 537, implying potential upside of 44 percent as the company is expected to be major beneficiary of key government initiatives.

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Sensex ends at record high, Nifty settles over 10,550 for first time ever


Benchmark indices ended at new closing high on Friday, tracking global equity markets on the back of robust economic data.

The S&P BSE Sensex ended at new closing high at 34,153, up 184 points while the broader Nifty50 index settled above 10,550 for the first time ever. It ended at 10,558, up 54 points.

Shares of telecommunication companies were in focus with the S&P BSE Telecom index rallying more than 3% on BSE, trading close to its record high.

Idea Cellular, Bharti Airtel, Reliance Communications (RCom), Tejas Networks, GTL, GTL Infrastructure, Aksh Optifibre and Sterlite Technologies from the telecom index have surged up to 12% on BSE in intra-day trade.

Subros hit an all-time high of Rs 347, up 11% on BSE in intra-day deal, after the company announced that it has started supply of blower for trucks to its customers include Tata Motors and Ashok Leyland.

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Sensex gains 209 pts, Nifty ends above 10,500 on last day of 2017


Equity benchmarks ended the last day of the year on a strong note as the Sensex was up 208.80 points at 34,056.83 and the Nifty rallied 52.80 points to 10,530.70. For the year, both the indices added nearly 28%.

About 1,566 shares advanced against 1,204 declining shares on the BSE.

Shares of Infibeam Incorporation turned volatile trading 12% lower at Rs 144.80 on Friday at 02:12 PM; on back of heavy volumes. The stock of internet software & services recovered 47% from its early morning low of Rs 98.80 on the BSE. It was closed at Rs 165 on Thursday.

Shares of Jaiprakash Associates (JP) Group stocks Jaiprakash Associates, Jaiprakash Power Ventures and Jaypee Infratech rallied by upto 20% in intra-day trade on the BSE, extending their gains for the past three days on back of positive media reports.

Jaiprakash Power Ventures has surged 20% to Rs 9.52, also its 52-week high on the BSE in intra-day trade today on back of heavy volumes. The stock rallied 37% in past four trading sessions after the media report suggested that lenders scout for new owner for JP Group arm Prayagraj Power.

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Markets end at record closing high; Nifty hits 10,500, ends lower


The benchmark indices settled at record closing highs with the Nifty50 touching its crucial 10,500 in last leg of trade, but ended below that mark.

Broader indices the S&P BSE Midcap and the S&P BSE Smallcap indices also hit their respective closing highs.

The Nifty IT (up 1%) and The Nifty PSU Bank (up 1.5%) were the leading sectoral gainers.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,570 shares rose and 1,173 shares fell. A total of 178 shares were unchanged.

The 30-share BSE Sensex was up 184.02 points at 33,940.30 and the 50-share NSE Nifty rose 52.70 points to 10,493.

Morepen Laboratories and D B Realty, from the S&P BSE Smallcap index, have rallied 50% each during the current week on back of positive development in these counters.

GNA Axles (up 4 percent) and Kilburn Engineering (up 10 percent) were trading at day’s high while ONGC and Granules India extended rally to 3-4 percent.

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Nifty ends above 10,300, up 2% for week, Sensex gains 216 pts; metals shine


Benchmark indices gained ground on Friday as investors cheer after the exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.

While survey agencies differed in their seat projections, nearly all predicted almost 100 or more seats for the BJP, with the party set to extend its 22-year rule in the state. Survey agencies also said the election, in the last phases, was focused on the leadership of Prime Minister Narendra Modi, and overcame the brewing anti-incumbency against the Vijay Rupani government and dissipated the anger that sections of Gujarati society had felt about specific local issues.

The S&P BSE Sensex ended at 33,462, up 216 points while the broader Nifty50 index settled at 10,333, up 81 points

Broader markets outperformed the benchmark indices with both BSE Midcap and BSE Smallcap indices up over 1%.

Maruti Suzuki India shares touched a fresh all-time high of Rs 9,237, rising 1.3 percent intraday after the global brokerage house raised target price sharply. While maintaining a buy call on the stock, Citi has increased its price target to Rs 10,600 (from Rs 9,400 per share earlier), implying 16% upside from Thursday’s closing price.

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Nifty ends above 10,250, up 1.4% for the week; Sensex ends 301 pts higher


Benchmark indices rose for the second straight session on Friday amid hopes the ruling Bharatiya Janata Party (BJP) would win critical state elections in Gujarat beginning this weekend, while automakers gained on reports of an expected price hike next year.

The election in Prime Minister Narendra Modi’s home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month.

According to polls, the BJP could win, but with a reduced majority – an outcome that would still soothe investors, who are hoping for more political stability and have largely welcomed Modi’s reform agenda.

The S&P BSE Sensex ended at 33,250, up 301 points while the broader Nifty50 index settled at 10,265, up 98 points. Broader markets were in line with the frontline indices with BSE Midcap up 0.9% and BSE smallcap up 1%

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Sensex tanks 316 pts, Nifty ends below 10150 as Q2 GDP fails to lift spirit


In a volatile trading session on Friday, the benchmark indices ended lower with the Nifty50 settling the first day of December expiry below 10,200 as economic growth data came in largely as expected, failing to boost a market weighed down by concerns about the country’s fiscal deficit and global risk factors such as rising crude prices.

Data late on Thursday showed India’s gross domestic product grew 6.3% in July-September, in line with expectations, as businesses started to overcome troubles after the bumpy launch of Goods and Services Tax (GST).

The data failed to lift sentiment as country’s fiscal deficit reached 96% of the budgeted target for the fiscal year ending in March 2018, sending shares sharply lower on Thursday.

The Reserve Bank of India (RBI) is meeting next week at a time of rising concern about a rally in crude prices, which rose following OPEC’s decision to extend production curbs.

The S&P BSE Sensex ended at 32,832, down 316 points, while the broader Nifty50 settled at 10,121, down 104 points.

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