Moody’s upgrade lifts market mood; Sensex up 236 pts, Nifty ends above 10,200


Benchmark indices ended higher on Friday after global rating agency Moody’s Investors Service upgraded India’s sovereign rating to Baa2 from Baa3 and changed the outlook to stable from positive.

This development that will give a big boost to Modi government, reduce the cost overseas borrowing and improve investments in India. Rating company, while justifying the upgrade said that the reforms undertaken by the government will “improve the business climate, enhancing productivity, stimulating foreign and domestic investment, and ultimately fostering strong and sustainable growth.”

The S&P BSE Sensex ended at 33,342, up 236 points, while the broader Nifty50 settled at 10,283, up 69 points.

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Mkts end at record highs, up over 1% for the week; PSU Banks extend gains


Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels.

Investor sentiment has been upbeat in India with the government’s recent announcement of a recapitalisation plan for banks.

The broader NSE Nifty ended 0.3% up at 10,452 to end the week 1.2% higher while Sensex ended 0.3% higher at 33,685, to post a weekly gain of 1.6%.

About 1,429 shares advanced against 1,316 declining shares on the BSE.

Tata Power Co Ltd reported an about 44 per cent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts’ forecasts.

Shares of Amtek Group companies – Amtek Auto, Metalyst Forgings and Castex Technologies – have locked in their respective upper limit of circuit breaker on the BSE after Bharat Forge said that it has participated in the process of acquiring Amtek Auto.

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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.

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As markets end flat, over 70 stocks hit fresh 52-week highs


The Indian market ended the truncated week on a sombre note, posting mild gains on both indices. Strong movements by Infosys and pharmaceutical stocks helped the Street, but selling in HDFC group stocks, FMCG stocks capped upside.

The 30-share BSE Sensex was up 28.05 points at 31,596.06 and the 50-share NSE Nifty gained 4.55 points at 9,857.05.

The market was closed on Friday on account of Ganesh Chaturthi.

The broader markets outperformed benchmark indices as the BSE Midcap index gained 0.8 percent and Smallcap was up 0.4 percent on positive breadth. About five shares advanced for every four shares falling on the BSE.

However, among these times, there were over 70 stocks which had a good day and clocked fresh 52-week high milestones. Bajaj Finserv, Bajaj Holding, Chennai Petro, Deepak Fertilisers, Avenue Supermarts, Indiabulls Housing Finance, IndusInd Bank, JSW Steel, and Tata Steel, among others, were in that list of gainers.

Meanwhile, there were 28 stocks that also hit fresh all-time highs, thereby increasing investor wealth. Bajaj Finserv, Deepak Fertilisers, Avenue Supermarts, IndusInd Bank and Heritage Foods, among others were a part of this list.

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Sensex at five-week low, Nifty settles at 9,710, down 350 pts for the week


The markets settled at their five-week lows as PSU banks and metal stocks tanked, while escalating tensions between the United States and North Korea continued to drive investors away from risk assets.

The Nifty PSU Bank index dipped nearly 5% after Oriental Bank, Union Bank of India and State Bank of India fell 5% each post disappointing earnings for the June quarter. Meanwhile, volatility index India VIX hit its highest in six months, suggesting market participants expect major volatility on the Nifty over the next thirty days.

Benchmark indices ended the session and the week on a negative note, with indices seeing big cuts in the day’s trade.

The Sensex closed down 317.74 points at 31213.59, while the Nifty ended lower by 109.45 points at 9710.80. The market breadth was negative as 1,003 shares advanced against a decline of 1,525 shares, while 135 shares were unchanged.
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Sensex, Nifty consolidate; midcaps at record high, Tata Steel up


Markets consolidated with midcaps at record high. The Bank Nifty closed at its highest level in the last 17-months high. The Sensex was down 46.44 points or 0.2 percent at 28077 and the Nifty was down 6.35 points at 8666.90. About 1480 shares have advanced, 1237 shares declined, and 182 shares are unchanged.

In stock specific action SBI remained on buyers’ radar gained 4 percent as investors gave a thumbs up to its merger ratio. All SBI associates including State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner and Jaipur jumped.

BHEL, Tata Steel, HUL and Cipla were other top gainers while Coal India, TCS, Lupin, Sun Pharma and M&M were losers in the Sensex.

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