Sensex gains 197 points on Friday; RIL pips TCS to become most valued firm


The benchmark indices ended over 0.5 per cent higher led by a rise in the financial stocks and Reliance Industries (RIL).

The S&P BSE Sensex ended at 35,457, up 197 points (0.56 per cent), while the broader Nifty50 index settled at 10,682, up 66 points (0.62 per cent). In the broader markets, the S&P BSE MidCap index ended flat at 14,998, while the S&P BSE SmallCap slipped 0.4 per cent to end at 14,486.

Among sectoral indices, the Nifty PSU Bank index settled 2 per cent higher led by Oriental Bank of Commerce and Bank of India.

The rupee traded on a firm note on Friday rising to 71.71 per US dollar in intra-day trade, up from its previous close of 71.98 against the greenback.

Shares of RIL on Friday rose 2.7 per cent to Rs 1,127 on the BSE helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation. On the BSE, RIL’s market capitalisation was at Rs 7,14,668.54 crore, while India’s largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,06,292.61 crore.

Shares of Rallis India, Deepak Fertilisers & Chemicals, Dixon Technologies (India), Hexaware Technologies, Take Solutions and BASF were among 22 stocks from the S&P BSE Allcap index hitting their respective 52-week lows on Friday in intra-day trade.

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Sensex slips 79 pts, Nifty ends at 10,585; IT stocks weigh


The benchmark indices ended slightly lower on Friday led by a fall in information technology (IT) and metal stocks.

The S&P BSE Sensex ended at 35,159, down 79 points, while the broader Nifty50 index settled at 10,585, down 13 points.

Among the sectoral indices, the Nifty IT index fell 0.8 per cent weighed by Infosys and Tata Consultancy Services (TCS). The Nifty Metal index slipped 0.9 per cent due to a decline in NMDC. On the other hand, the Nifty Pharma index settled 1.4 per cent higher led by a rise in Sun Pharma.

In stock-specific action, Bharti Airtel fell 2.9 per cent to Rs 297 on the BSE after Moody’s Investors Service placed it’s rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The stock had fallen as much as 5.21 per cent to Rs 290 on the BSE in intra-day trade.

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Sensex tumbles 792 points on Friday; RBI holds rates; rupee hits 74.22/$


Markets ended lower on Friday after the Reserve Bank of India (RBI) sprung a surprise and kept the repo rate unchanged at 6.50 per cent. Most experts had expected the central bank to hike rates by 25 bps.

The S&P BSE Sensex lost 792 points, or 2.25 per cent, to settle at 34,377 while the broader NSE’s Nifty50 index dropped 283 points, or 2.7 per cent, to close at 10,316. Among specific stocks, shares of oil marketing companies such as HPCL, BPCL and IOCL hit 52-week lows after the government announced that it will cut excise duties on petrol and diesel prices and OMCs will absorb Re 1 per litre.

Heavy losses were also visible in banking stocks with the Nifty Bank index slipping 1.5 per cent. YES Bank, State Bank of India (SBI), Bank of Baroda (BoB), IDFC Bank and ICICI Bank lost up to 5.1 per cent.

Earlier, the monetary policy committee (MPC) of the Reserve Bank on Friday kept the repo rate unchanged at 6.50 per cent in its fourth bi-monthly monetary policy review of 2018-19. The central bank changed the policy stance to ‘Calibrated tightening’ from ‘Neutral’. Calibrated tightening means rate will be maintained or hiked in this cycle.

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Sensex settles 284 points higher as banks, FMCG stocks rally


The benchmark indices settled higher on Friday taking cues from their Asian peers.

The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at 11,471, up 86 points.

Among key stocks, the fast moving consumer goods (FMCG) major ITC rose over 2 per cent to end at Rs 313 levels on the BSE. The stock hit a fresh 52-week high of Rs 315 earlier today. ICICI Bank and State Bank of India also ended higher in a range of 1.8 to 3.0 per cent on the BSE.

Among sectors, the Nifty Pharma index ended higher for the fourth straight day, hitting an over six-month high on the National Stock Exchange (NSE). Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Lupin, Aurobindo Pharma and Cadila Healthcare from the index, were up in the range of 1 per cent to 4 per cent on the NSE.

Shares of paper companies were trading higher on the bourses on expectations of a positive outlook for the current July-September quarter.

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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.

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Nifty ends firmly above 10800, Sensex up 257 points; Pharma gains


Markets edged up on Friday with Nifty50 closing above 10,800-levels, even as broader global markets remained weak.

The S&P BSE Sensex ended the day at 35,689, up 257 points while the broader Nifty50 index settled at 10,822, up 81 points.

The top gainers on the Sensex include Sun Pharma, HDFC, Mahindra and Mahindra (M&M), and Axis Bank whereas Reliance Industries (RIL), and Coal India were the major losers.

Among sectoral gainers, banking and finance sectoral indices gained with Nifty Bank, Nifty PSU Bank and Nifty Private Bank index up over 1% each. Meanwhile, Nifty Pharma index was up 1.8% with Sun Pharma gaining over 4%.

Bajaj Finance, which hit a new high of Rs 2,330, up 3% on the BSE in late noon deal on Friday, has surpasses private sector lender Axis Bank in market capitalisation (market-cap) ranking. Thus far in the calendar year 2018 (CY18), Bajaj Finance has outperformed the market by surging 33% as compared to 4% rise in the S&P BSE Sensex. Axis Bank has underperformed the market by falling 8% during the period.

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Indices end lower on Friday, Nifty fails to hold 10700; bank stocks fall


Benchmark indices edged lower on Friday as losses in financials offset gains in auto stocks, with investor focus shifting to the monsoons.

The S&P BSE Sensex ended at 35,227, down 95 points while the broader Nifty50 index settled at 10,696, down 40 points.

Among sectoral indices, the Nifty Bank index ended over 1% lower led by a fall in the shares of IndusInd Bank and Federal Bank.

Meanwhile, government data showed on Thursday that Indian economy grew 7.7% year-on-year in January-March, its quickest pace in nearly two years driven by higher growth in manufacturing, the farm sector and construction.

Adani Power Mundra, a subsidiary of Adani Power, is likely to approach the National Company Law Tribunal (NCLT) for bankruptcy protection. This comes after its lenders stepped back from stake-sale negotiations with Gujarat Urja Vikas Nigam (GUVNL), the state power distribution company.

Sun TV Network fell for fifth straight session, down 3.9% at Rs 881.85, on the NSE. Sun TV Network jumped 5.69% in last one year as compared to a 10.94% rally in Nifty and a 1.48% spurt in the Nifty Media index.

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Nifty gains 1%, ends above 10,600 on Friday; auto, metal stocks gain


Benchmark indices rose on Friday after rupee recovered from its a 16-month low against the dollar.

The S&P BSE Sensex ended at 34,925, up 262 points, while the broader Nifty50 index settled at 10,605, up 91 points

Among sectoral indices, the Nifty Metal index gained over 2% led by a rise in Hindalco, SAIL, JSPL and Tata Steel. The Nifty Auto index also rose over 1% led by Exide Industries and Tata Motors.

In individual stocks, Tata Consultancy Services (TCS), the country’s biggest software services exporter, became the first Indian company. which saw its market capitalisation (market-cap) cross Rs 7-trillion mark.

Multi Commodity Exchange of India (MCX) rallied 8% on the BSE after reports suggested that the company has entered into merger talks with the National Stock Exchange (NSE) ahead of the implementation of the universal exchange framework in October.
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Sensex ends 270 points lower, Nifty below 9,850 as Infosys cracks 9%


The Sensex settled at 31,524, down 270 points, while the broader Nifty50 quoted 9,837, down 66 points at close. The BSE Midcap index settled 0.1% lower, while BSE Smallcap index shed 0.5%.

The benchmark indices snapped a three-session long winning streak, as Infosys cracked after Vishal Sikka’s resignation as MD & CEO, although rivals such as Tata Consultancy Services gained.

According to a BSE filing, Sikka will be Executive Vice-Chairman while UB Pravin Rao is the Interim-MD and CEO.

Infosys saw its sharpest decline since April 12, 2013, down 9.6% to Rs 923. In intraday trade, the stock fell as much as 13% to Rs 884.

But the domestic markets still logged their sixth weekly gain in seven, though they remained below the record highs hit on August 2.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,534 shares declined and 1,002 shares rose. A total of 122 shares remained unchanged.

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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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