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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Nifty ends above 9,950, up 1% for the week; Sensex settles 161 pts higher


Benchmark indices rose on Friday and gaining for a third straight week after much weaker-than-expected economic growth data raised hopes the central bank would cut interest rates at its next policy meeting in October.

India’s gross domestic product (GDP) growth slid to a three-year low of 5.7% in the quarter ended June, a marked slowdown from a 6.1% growth in the previous quarter.

However, India’s factory activity unexpectedly expanded in August, snapping back from a contraction the previous month, as disruptions stemming from confusion over GST eased.

Broader markets outperformed the benchmark indices with BSE Midcap and BSE Smallcap up 0.9% and 0.8% respectively.

Shares of Gravita India touched 52-week high of Rs 134.65, rising 11% intraday on the back of strong Q1 numbers.

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Sensex ends on Friday 329 points lower, Nifty slips below 8,100


The benchmark indices on Friday settled the day lower as auto makers dropped on sharp decline in monthly sales and stocks of telecom service providers – Bharti Airtel, Idea Cellular, Reliance Communications (RCom) – were hit by worries about intensifying competition with the extension of freebies offered by Reliance Jio (RJio) till March 2017.

Sentiment was also muted ahead of the release of the US monthly jobs data, a referendum in Italy over its constitution, and the Reserve Bank of India’s policy review next week.

The S&P BSE Sensex ended at 26,230, down 329 points, while the broader Nifty50 closed at 8,086, down 106 points.

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Markets end Samvat 2072 on a flat note; Midcaps outshine


Benchmark share indices on Friday ended higher, amid a choppy trading session, with Tata Motors gaining the most following a rebound in Tata Group shares while recovery in financials also aided sentiment.

The benchmark S&P Sensex closed at 27,942 level up 26 points or 0.1% whereas the Nifty50 index closed at 8,638 up 23 points. The broader markets outperformed the benchmark indices. The S&P BSE Midcap and Smallcap ended nearly 1% higher.

Top gainers from the Sensex pack were Tata Motors, Bajaj Auto, Coal India, Tata Steel and Dr Reddy’s Labs, all surging between 2%-3%. On the losing side, ICICI Bank, Cipla, Asian Paints, Bharti Airtel and ONGC were down 1%-2%.
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