Indices end higher on Friday but Nifty fails to hold 10500 mark


Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank.

Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June.

Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter results season later in the day.

The S&P BSE Sensex ended at 34,193, up 92 points while the broader Nifty50 index settled at 10,481, up 22 points.

KPIT Technologies  rose for a third straight session, quoting at Rs 230.5, up 1.86% on the day as on the NSE. KPIT Technologies is up 79.24% in last one year as compared to a 14.96% gain in Nifty and a 33.16% gain in the Nifty IT index.

Continue Reading


Sensex ends flat on Friday, Nifty holds 10,300; PSU banks gain


Benchmark indices ended flat on Friday, as investors remained cautious after sentiment soured on renewed fears of a trade war after US President Donald Trump proposed more tariffs on China.

Back home, the Reserve Bank of India (RBI) on Thursday adopted a remarkably dovish tone, surprising analysts who were expecting the firming up of rates in the medium term, even as one of the six members in the Monetary Policy Committee (MPC) voted for a hike in an otherwise status quo policy.

The S&P BSE Sensex ended at 33,627, up 30 points while the broader Nifty50 index settled at 10,331, up 6 points.

Reliance Communications Ltd (RCom) said on Friday it received the National Company Law Appellate Tribunal’s (NCLAT) approval to proceed with the sale of its tower and fibre business.

Shares of public sector bank were in focus for the second straight day with Nifty PSU Bank index nearly 1%, extending its Thursday’s 5% surge, after the Reserve Bank of India (RBI) maintained status quo on the key short-term borrowing rate in its first bi-monthly monetary policy for the financial year 2018-19 (FY19) on Thursday.

Punjab National Bank (PNB), Allahabad Bank, Oriental Bank of Commerce, Bank of Baroda, Union Bank of India, Bank of India and Canara Bank were up in the range of 1% to 4% on the National Stock Exchange (NSE).

Continue Reading


Sensex ends FY18 with 11% gain; investors richer by Rs 20.70 trillion


The benchmark BSE Sensex slumped 206 points in a see-saw trade on Wednesday to close below the 33,000-mark in the last trading session of 2017-18, but finished the year with a gain of 11.30 %.

The broader 50-share Nifty also ended 70 points lower at 10,113.70. The Sensex has gained 3,348.18 points, or 11.30 %, in 2017-18. The index had gained 16.88 % in the previous fiscal year.

Investors saw wealth addition of Rs 20.70 trillion during 2017-18. The market capitalisation of all firms listed on the BSE was at Rs 142.24 trillion against Rs 121.54 trillion as on March 31, 2017.

The broader Nifty closed the fiscal year with gains of 939.95 points, or 10.25 %. During the previous year, it scored gains of 1,435.55 points or 18.55 %.

For the day, the BSE Sensex snapped its two-session winning streak to end lower by 205.71 points, or 0.62 % at 32,968.68. Intra-day, it hovered between 33,104.11 and 32,917.66. The gauge had rallied 577.85 points in the past two sessions. The NSE Nifty, too, ended the day 70.45 points, or 0.69 % lower at 10,113.70 after shuttling between 10,158.35 and 10,096.90.

On a weekly basis, the Sensex rose 372.14 points, or 1.14 %, while the Nifty gained 115.65 points or 1.16 %. This was their first gain in five weeks.

Stock exchanges will remain closed on Thursday and Friday on account of Mahavir Jayanti and Good Friday, respectively.

Continue Reading


Sensex ends a tad above 34000, down 407 pts, Nifty falls 1%; banks drag


Benchmark indices slumped more than 1% on Friday, in line with Asian peers, as the global rout in equities returned, while lingering concerns over inflation back home weighed on the market.

Asian stocks tumbled to two-month lows after US shares plummeted again in the face of rapidly rising bond yields.

Global cues have weighed on Indian stock markets with major indexes on track for a second straight weekly fall after embarking on a record-hitting spree in January.

The S&P BSE Sensex ended at 34,005, down 407 points while the broader Nifty50 index settled at 10,454, down 121 points.

FDC, SpiceJet, Steel Authority of India (SAIL), Bharat Forge, Ipca Laboratories, Jet Airways and Bajaj Electricals are among 23 stocks from the S&P BSE500 index up over 10% during the current week in an otherwise weak market.

Bombay Dyeing & Manufacturing, HEG, Fortis Healthcare, Himachal Futuristic Communications (HFCL), Firstsource Solutions, Jamna Auto Industries, Greenply Industries and Shankara Building Products, too, were up more than 10%.

Continue Reading


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.

Continue Reading


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.

Continue Reading


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.

Continue Reading


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.

Continue Reading


Markets end positive for 7th straight session, up over 1% for the week


Benchmark indices ended positive for a seventh straight session on Friday led by IT firms, while bonds dipped on market talk of a potential sovereign ratings upgrade by Standard & Poor’s (S&P) later in the day.

Speculation about an S&P rating upgrade on India surfaced late on Thursday. This comes after a surprise upgrade by Moody’s last week.

Foreign investors have net bought $2.33 billion worth of Indian shares in November so far.

The S&P BSE index ended the day at 33,679, up 91 points while the broader Nifty50 index settled at 10,389, up 40 points. Infosys, Bajaj Auto, GAIL and Aurobindo Pharma were the top gainers, while BHEL, SBI, Hindalco and Vedanta were the top losers.

The S&P BSE Midcap and the S&P BSE Smallcap indices hit their respective new high on the BSE on Friday, following an extending rally in infrastructure, auto ancillary, education, textiles and public sector banks.

Continue Reading


Friday Closing bell: Sensex up 250 pts, Nifty ends at record closing high; telecom, banks lead


Equity benchmarks closed sharply higher for the second consecutive session as investors cheered macro data and hopes raised for an early resolution to telecom NPAs post telecom deals.

The 30-share BSE Sensex was up 250.47 points at 32,432.69 and the 50-share NSE Nifty rose 71.10 points to 10,167.50.

The market breadth was weak as about 1,431 shares declined against 1,293 advancing shares on the BSE.

Bharti Airtel was up 6 percent, Tata Teleservices up 9 percent and Tata Communications up 2 percent after Airtel decided to buy consumer telecom business of Tata Sons. Bharti Infratel was up 3 percent.

Markets also got a boost after data showed inflation held steady, instead of accelerating as expected, raising tentative hopes the Reserve Bank of India (RBI) would be less hawkish about interest rates.

Continue Reading