Sensex ends 373 points up as rupee recovers; PM eco meet eyed


The equity markets settled 1 per cent higher on Friday as the rupee recovered against the dollar.

The S&P BSE Sensex reclaimed the 38,000 mark to end at 38,091, up 373 points while the broader Nifty50 index settled at 11,515, up 145 points.

In the broader markets, the S&P BSE MidCap settled 1.6 per cent higher and the S&P BSE SmallCap rose 1.4 per cent.

Among sectoral indices, the Nifty Pharma index settled 2.5 per cent higher led by a rise in the share prices of Divi’s Laboratories and Piramal Enterprises. On the other hand, the Nifty Bank index rose 1.3 per cent led by YES Bank and IDFC Bank.

The rupee strengthened by over 60 paise to 71.58 against the US dollar in intra-day trade. On Wednesday, the domestic currency rebounded from its historic low of 72.91 to end higher by 51 paise at 72.18 against the dollar.

This apart, Prime Minister Narendra Modi will hold a meeting with finance ministry officials later in the day to discuss the fall in the rupee and other economic issues. Rupee is Asia’s weakest currency in 2018, down more than 12 percent on a widening current account deficit and higher oil prices.

Continue Reading


Sensex ends at new closing high of 37,337; ITC up 5% post Q1


The benchmark indices ended at record closing high for the second straight session on Friday on strong quarterly results. The gains were led by index heavyweights like ITC, RIL, and Hindalco.

The S&P BSE Sensex settled at a record high of 37,337, up 352 points, while the broader Nifty 50 index settled at a new high of 11,278, up 111 points.

In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37368.62 while the Nifty50 index touched its record high level of 11,283.40.

Leading the gains is ITC, which has surged over 5 per cent on the BSE. Beating street estimates, diversified conglomerate ITC on Thursday posted a 10.07 per cent jump in its net profit at Rs 28.19 billion for the quarter ended June 30, 2018 with its total revenue, inclusive of other income, registered at Rs 112.78 billion.

Among other gainers, Reliance Industries was among the top contributors to the NSE index, up over 1.5 per cent ahead of its quarterly results later in the day. The oil-to-retail conglomerate will also report results of its telecom arm Reliance Jio.

Nifty Bank index also hit an all-time high, ending 0.8% higher for the day. IDFC Bank, Federal Bank, and Axis Bank were the top gainers in the pack, up between 2 per cent to 2.6 per cent.

Continue Reading


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


Nifty settles below 9,800, down over 1.5% for the week; Sensex ends flat


Benchmark indices pared gains to end flat, losing over 1.5% in the week on foreign fund outflows amid worries that the government may widen its fiscal deficit target of 3.2% of gross domestic product for the year ending in March 2018 to boost an economy that grew at a slower pace than expected.

Broader markets outperformed benchmark indices with BSE Midcap and BSE smallcap indices gaining 0.8% and 1% respectively. Both indices ended over 1% for the week

Foreign investors net selling equities worth $1.1 billion during the month. They had sold worth $2 billion in shares in August.

Bajaj Auto, Adani Ports, GAIL and Eicher Motors gained the most on both indices, while HUL and Wipro were the top losers.

Realty firm Godrej Properties today said it has entered into a joint venture agreement with Royale Builders and Developers to develop a 13-acre group housing project in north Bengaluru.

Continue Reading


Nifty ends below 9,600, down almost 1% for the week; Nifty IT slips 0.8%


Benchmark indices swung between gains and losses on Friday to end the day flat amid lack of global as well as domestic cues. Nifty50 settled the week 0.8% lower, its first weekly loss in six weeks, breaking its longest gaining streak since late 2014 while Sensex ended the week 0.6% lower.

Gains were capped by a sharp correction in pharma and IT stocks on worries over their earnings outlook while ITC, Tata Motors continued to support the market.

The S&P BSE Sensex settled at 31,056, down 19 points, while the broader Nifty50 ended at 9,588, up 10 points.

In the broader market, the S&P BSE Smallcap pared gains to finish 0.1% higher after rising 0.5% to hit its record high, while the S&P BSE Midcap index was up 0.2%.

Pharma was the top losing index amid worries about their earnings outlook because of pricing pressures in the United States, down 1.8%. Lupin was the biggest laggard on the index, down over 4% followed by 4% Divi’s Lab, Cadila Healthcare, Sun Pharma and Cipla.

Continue Reading


Nifty ends the week below 8,700; US jobs data eyed



Some picks from the week gone


Another week goes by and we are now in the final week of the financial year. While we all know we don’t always pick winners, we make our sincere attempt not to lose our hard-earned money. We hope the year has been as fruitful for all investors as it has been with us here at StockArchitect. Here are some of the picks from the week that just went by.

Continue Reading


Does Stock Architect Work? Here is the evidence!!!


Stock Architect is a startup, waking up again after a hiatus. We are happy to be a place where leaders from the stock market come together using the power of the internet to serve each other through sharing, networking and collective learning. Our aim is to become a place for traders and investors to get up to speed on market-moving information and insights which drive real-time changes in the investor mood and sentiment.

When we discuss the concept, people often ask us – How do I make money? Does it work? All the doubting Thomases and nay sayers have a field day. We, therefore, culled information from the tweets on the website and looked at different recommendations. The result was astounding. We just looked at Ceat Ltd. & BF Utilities, stocks recommended as buys. Given below is the summary:

Continue Reading