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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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 marginally lower but holds above 10,000 , up 1% for week


The benchmark Nifty50 pared losses in the last leg of trade to end the first day of August series above 10,000-mark, up 1% for the week. Sensex, on the other hand, also ended marginally lower for the day but up 1% for the week. The street was dragged down by after Dr. Reddy’s extended fall for the second straight day post weaker Q1 quarterly earnings. Negative cues from Asian markets after US tech shares pulled Wall Street slightly lower also contributed to the losses.

Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap, up 0.5% and 0.4% respectively.

Focus now shifts to Reserve Bank of India’s two-day monetary policy meeting, which is set to begin next week on Tuesday, while the outcome is expected on Wednesday.

HDFC, Infosys, Kotak Mahindra Bank, Adani Ports and ONGC gained the most on BSE Sensex while Dr Reddy’s, Sun Pharma, Lupin, ICICI Bank and HeroMoto Corp lost the most on the index

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Markets extend losses on geopolitical concerns on Friday; Nifty ends below 9,200



The benchmark indices on Friday extended losses to end lower as global markets dipped after the United States launched cruise missiles against an airbase in Syria, while back home expectations of no further rate cuts this year by Reserve Bank of India (RBI) also impacted the sentiment.

The S&P BSE Sensex ended at 29,706, down 221 points, while the broader Nifty50 settled at 9,198, down 64 points.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower.

The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,620 shares declined and 1,293 shares rose. A total of 129 shares were unchanged.

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Nifty ends on Friday at record close for 2nd straight session, up 2.5% for the week


The Sensex settled the day at 29,649, up 63 points, while the broader Nifty50 ended at 9,160, up 6 points.

Broader market underperformed the frontline indices with BSE Midcap down 0.14% and BSE Smallcap up 0.04%.

The Nifty has gained 2.5% so far this week, while the Sensex has climbed 2.85%, in what is their highest weekly gain since the end of January.

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Sensex falls 156 points on Friday to end near 5-month low; Smallcaps and Pharma stocks sink


Benchmark indices ended lower for fifth straight trading sessions dragged down by selling pressure in pharma shares while weak global cues also dampened investor sentiment. Further, consistent selling by foreign portfolio investors along with growing uncertainty over Hillary Clinton’s victory in the US Presidential election also weighed on market sentiment.
The S&P BSE Sensex ended down 156 points to settle at 27,274 and the Nifty50 settled 51 points lower at 8,434. Sensex touched its lowest level since July 8, 2016 in intra-day trade whereas the Nifty dropped to its lowest level since July 11, 2016.
The broader markets underperformed the benchmark indices significantly- BSE Midcap and Smallcap indices fell between 1%-2.5%. Market breadth on the BSE ended lower with 200 declines and 500 advances.

Nifty ends just below 8,700 amid consolidation; RIL, Cipla fall 2%


Benchmark indices ended lower weighed down by profit taking in financials and index heavyweight Reliance Industries. However, the downslide was limited due to buying interest in select IT and FMCG shares.

The benchmark S&P Sensex closed at 28,077 levels, down 52 points or 0.2%. Nifty50 index slipped 6 points, or 0.1%, to close at 8,693 levels. The broader markets out performed the benchmark indices. The S&P BSE Midcap and Smallcap rose 0.1%-0.3%.

Cipla was the top Sensex loser, down over 3% after the pharma major today lost a case related to overcharging in certain drugs, in violation of the provisions of drug (price control) order, 1995. As per the company’s latest annual report, it had received notices of demand aggregating to Rs 1,768.51 crore.

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Sensex ends 248 points lower on weak global cues


Markets on Friday ended lower, amid weak global cues, as investors booked profits after sharp gains in the previous session which lifted the benchmarks to 18-month highs. Further, testing of a nuclear weapon by North Korea also dampened sentiment for riskier assets.

The S&P BSE Sensex ended down by 248 points at 28,797 and the Nifty50 slipped 86 points to settle at 8,867. In the broader markets, BSE Midcap and the Smallcap indices eased between 0.5%-1% each. Market breadth ended weak with 1604 losers and 1146 gainers on the BSE.

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Nifty closes above the psychological 8800! Telecom rebounds.


Renewed buying interest drove equity benchmarks nearly 3 percent higher during the week, which was the first weekly rally after consolidation for a month.

Late buying helped the Nifty close above psychological 8800 level for the first time since April 2015, driven by banks, auto and telecom stocks.

The 30-share BSE Sensex rose 108.63 points to 28532.11 and the 50-share NSE Nifty gained 35 points at 8809.65.

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Luck smiles on Tata Motors, Trident as Wipro wilts


The flower of optimism wilted on Dalal Street on Friday as Wipro hit its lowest level in more than two years.

The benchmark S&P BSE Sensex shed 54 points to end the day at 27,782. The 50-share gauge Nifty50 closed at 8,572, lower by 19 points.

Shares of Wipro tumbled to their two-year low during the session. The stock plunged another 3 percent after a 3 percent decline seen on Thursday. The company had posted weaker-than-expected numbers for June quarter and investors see it wilting under the pressure that the IT giants are facing this year.

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