Sensex, Nifty touch record levels as rupee recovers

Sensex, Nifty touch record levels as rupee recovers

Positive global cues on easing trade protectionist measures along with an appreciation in the Indian rupee lifted the key equity indices — S&P BSE Sensex and the NSE Nifty 50 — to settle at fresh high levels on Monday.

On a intra-day basis, the BSE Sensex touched a fresh high of 38,340.69 points, while the Nifty50 climbed a peak of 11,565.30 points.

Index-wise, the wider NSE Nifty50 closed at 11,551.75 points, up 81 points or 0.71 per cent from its previous close of 11,470.75 points.

The benchmark BSE Sensex which had opened at 38,075.07 points, closed at 38,278.75 points, higher by 330.87 points or 0.87 per cent from its previous close of 37,947.88 points. It touched an intra-day low of 38,050.69 points.

In the broader markets, the S&P BSE Mid-cap ended higher by 1.05 per cent and the S&P BSE Small-cap rose by 0.14 per cent.

The BSE market breadth was tilted towards the bulls with 1,437 advances and 1,307 declines.

“Positive global stocks, optimism over a trade resolution between the USA and China and strong institutional activity at home fuelled investor sentiment and pushed the bourses to close the day with gains,” Abhijeet Dey, Senior Fund Manager for equities at BNP Paribas Mutual Fund.

The two economic giants are expected to hold lower-level trade talks this month, offering hope that they might resolve an escalating tariff war, Dey added.

Accordingly, major Asian markets closed on a positive note, barring the Nikkei and Straits indices and European indices including FTSE 100, DAX and CAC 40 traded in the green, said Deepak Jasani, Head of Retail Research at HDFC Securities.

Besides, global cues, the appreciation in Indian rupee supported the indices’ upward movement.

On Monday, the Indian rupee appreciated by 33 paise to settle at 69.83 per US dollar, from its record closing low of 70.16 per dollar on the previous trade session.

“The rupee has appreciated today as the US dollar index has witnessed profit booking,” Anand Rathi Shares and Stock Brokers’ Research Analyst Rushabh Maru told IANS.

“There is an optimism in the market that US and China would find a solution for ongoing trade conflict. So that has also supported the rupee.”

Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 483.04 crore and the domestic institutional investors purchased stocks worth Rs 593.22 crore.

Sector-wise, the S&P BSE capital goods index rose 668.41 points, the metal index was up 332.36 points and the auto index rose by 244.22 points.

In contrast, the S&P BSE IT index declined by 188.84 points, consumer durables fell 127.24 points and Teck (entertainment, technology and media) index ended lower by 76.07 points from its previous close.

The major gainers on the Sensex were Larsen and Toubro, up 6.74 per cent at Rs 1,323.95; Tata Motors (DVR), up 5.74 per cent at Rs 143.80, Tata Motors, up 4.74 at Rs 269.55; ONGC up 3.34 per cent, at Rs 168.55; and Tata Steel, up 3.24 per cent at Rs 599.40 per share.

The majors losers were Infosys, down 3.22 per cent at Rs 1,385.20; Maruti Suzuki, down 0.79 per cent at Rs 9,075.90; ICICI Bank, down 0.50 per cent at Rs 338.35; Axis Bank, down 0.46 per cent at Rs 624.20; and Hindustan Unilever, down 0.30 at Rs 1,775.40 per share.

-PTI |21 August 2018 | Mumbai

Nifty breaches 10,000 mark, Sensex at new high

Nifty breaches 10,000 mark, Sensex at new high on fund inflows 

Creating history, the NSE Nifty today breached the 10,000 level for the first time while the BSE Sensex hit another record high of 32,374.30 in opening trade led by rally in metal, banking, realty and FMCG stocks.
The 50-issue Nifty breached the historic 10,000 level by gaining 44.90 points, or 0.45 per cent, to trade at all-time high of 10,011.30, surpassing its previous intra-day high of 9,982.05 touched yesterday.
Brokers said sentiment was upbeat on sustained capital inflows and widespread buying by retail investors, driven by strong earnings by some more bluechip companies.
Image result for NSE Nifty
The flagship BSE Sensex too climbed 128.43 points, or 0.39 per cent, to trade at new record high of 32,374.30, breaking its previous record high of 32,320.86 reached in yesterday’s trade. The gauge rallied 341.47 points in the previous two sessions.
Besides, expectations of a rate cut by the Reserve Bank at its meeting next month too bolstered trading sentiments as participants indulged in raising their bets, they said.
Top performers during initial trade were Hero MotoCorpt, Bharti Airtel, HDFC Bank, Tata Steel, Power Grid, ICICI Bank, Kotak Bank, NTPC, Bajaj Auto, SBI, M&M, Dr Reddy’s, Adani Ports and ITC Ltd, rising by up to 1.28 per cent.

The 50-issue Nifty breached the historic 10,000 level by gaining 44.90 points, or 0.45 per cent, to trade at all-time high of 10,011.30, surpassing its previous intra-day high of 9,982.05 touched yesterday. Brokers said sentiment was upbeat on sustained capital inflows and widespread buying by retail investors, driven by strong earnings by some more bluechip companies. The flagship BSE Sensex too climbed 128.43 points, or 0.39 per cent, to trade at new record high of 32,374.30, breaking its previous record high of 32,320.86 reached in yesterday’s trade. The gauge rallied 341.47 points in the previous two sessions. Besides, expectations of a rate cut by the Reserve Bank at its meeting next month too bolstered trading sentiments as participants indulged in raising their bets, they said.

Among other Asian markets, Hong Kong’s Hang Seng index was up 0.09 per cent while Japan’s Nikkei shed 0.13 per cent. Shanghai Composite Index down 0.32 per cent.
 -25 July 2017 | PTI | Mumbai

Sensex scales another peak of 30,346.69; Nifty @ 9,450.65

Sensex scales another peak of 30,346.69; Nifty at 9,450.65

The BSE Sensex continued with its record setting spree to quote at an all-time high of 30,346.69 while the NSE Nifty scaled a new peak of 9,450.65 in opening trade on sustained fund inflows, largely driven by forecast of a normal monsoon, amid positive Asian cues.
The 30-share index rallied by 98.52 points, or 0.32 per cent, to hit a new peak of 30,346.69, breaking its previous record of 30,271.60 points (intra-day) touched in yesterday’s trade.
The gauge had gained 389.37 points in previous three sessions to close at a record high of 30,248.17 in yesterday’s session.
All the sectoral indices, led by metal, healthcare, auto and banking, were trading in green with gains of up to 1.02 per cent.
The 50-share NSE Nifty gained 43.35 points, or 0.46 per cent, to quote at a life-time high of 9,450.65. The gauge had touched an intra-day high of 9,414.75 in yesterday’s trade.
Major contributors to the key indices were Tata Steel, M&M, Lupin, ONGC, Cipla, Axis Bank, ITC Ltd, ICICI Bank, Sun Pharma, Adani Ports and SBI, gaining by up to 1.42 per cent.
Bucking the trend, shares of India’s largest two-wheeler maker Hero MotoCorp fell 0.38 per cent, to Rs 3,309.90 after the company yesterday registered a 13.86 per cent decline in net profit at Rs 717.75 crore for the fourth quarter ended March 2017.
Brokers said that continued buying by foreign funds as well as retail investors after forecast of a normal monsoon this year lifted the key indices to new highs.
In the Asian region, Hong Kong’s Hang Seng rose 0.23 per cent, while Japan’s Nikkei was up 0.15 per cent in early trade. Shanghai Composite Index, however, was down 0.25 per cent. The US Dow Jones Industrial Average closed 0.16 per cent lower in yesterday’s trade.
-11 May 2017 | PTI | Mumbai

Sensex jumps 193 points; Nifty reclaims 7,900-mark as investors cheer nod to bankruptcy bill

Sensex jumps 193 points; Nifty reclaims 7,900-mark as investors cheer nod to bankruptcy bill

Sensex jumps 193 points; Nifty reclaims 7,900-mark as investors cheer nod to bankruptcy bill

 

Optimism following the passage of the bankruptcy bill in Parliament helped soothe jittery nerves over the revised tax treaty with Mauritius as the benchmark BSE Sensex recovered by 193.20 points to end at 25,790.22 Thursday, driven by banking stocks such as ICICI Bank and SBI.

The broader NSE Nifty too regained the key 7,900-mark.

Trading sentiment was also positive ahead of the release of key macroeconomic data — industrial production (IIP) for March and consumer price index (CPI) for April.

Banking stocks were in the limelight, largely on the nod to the much-awaited bankruptcy bill by Rajya Sabha. ICICI Bank gained the most among Sensex pack, surging 3.46 percent to Rs 231.85, while SBI gained 1.87 percent to Rs 188.40 and HDFC Bank rose 1.05 percent to Rs 1,149.90.

“The bill aims to provide a single unified law for the timely resolution of insolvency and bankruptcy related cases, which consequently will help creditors recover bad debts faster,” said Shreyash Devalkar Fund Manager -Equities, BNP Paribas MF.

This helped markets put behind the scare caused by revised Mauritius tax treaty, he added.

The broader markets too displayed a firm trend as retail investors widened their portfolios with the BSE small-cap index rising 0.93 percent and mid-cap gaining 0.69 percent.

The benchmark BSE Sensex surged 193.20 points or 0.75 percent to settle the session at 25,790.22 on widespread gains after shuttling between 25.827.03 and 25,620.27.

The index had lost 175.51 points yesterday over fears that equity inflows would take a hit after India’s move to impose capital gains tax on investment through Mauritius.

The broader NSE Nifty again went past 7,900-mark and touched a high of 7,916.05, before settling 51.55 points or 0.66 percent higher at 7,900.40.

Asian Paints, which reported a 19.87 percent jump in consolidated net profit for the March quarter, rose by 2.13 percent to Rs 926.75.

Regional markets showed a mixed trend with the indices in Japan and Singapore rising by 0.41 percent to 0.46 per cent while those in China, Hong Kong, South Korea and Taiwan fell by up to 0.70 percent.

Europe-based stocks reversed early losses on expectations that the Bank of England will keep interest rates on hold. Key indices in France and Germany rose by 0.27 percent and 0.37 percent, respectively, while the UK’s FTSE quoted lower by 0.17 percent.

Back home, 21 scrips, out of the 30-share Sensex pack ended higher while nine — Axis Bank, HUL, M&M, HDFC, Maruti, L&T, Hero MotoCorp, BHEL, Cipla — fell up to 1.19 percent.

Major gainers were Dr Reddy’s (3.65 percent), ICICI Bank (3.46 percent), Asian Paints (2.13 percent), TCS (1.96 percent), SBI (1.87 percent), Tata Motors (1.87 percent), RIL (1.66 percent), Bajaj Auto (1.40 percent), Lupin (1.28 percent) and HDFC Bank (1.05 percent).

Among BSE sectoral and industry indices, consumer durables rose by 1.41 percent followed by IT 1.12 percent, realty 1.12 percent, energy 1.07 percent, teck 1.04 percent, bankex 0.95 percent and finance 0.82 percent. While, capital goods fell 0.04 percent.

The market breadth turned positive as 1,569 stocks ended higher, 1,001 closed lower, while 183 ruled steady.

The total turnover rose to Rs 2,650.92 crore from Rs 2,574.47 crore yesterday.

Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 362.19 crore yesterday, as per provisional data released by the stock exchanges

-May 12, 2016, Mumbai

Top 7 stocks that will benefit from above normal rains

Top 7 stocks that will benefit from above normal rains

Anticipation of healthy monsoon in 2016 boosted market sentiments as the broader market index NSE Nifty crossed the psychological level of 7,800 on Wednesday for the first time since January 6. The benchmark index BSE Sensex was also trading over 400 points up in morning trade.

Agri-related stocks on Tuesday have rallied on hopes of robust rains. Jain Irrigation shares advanced 6.13 per cent to Rs 63.15 on BSE on Tuesday. Similarly, Insecticides (India) surged 16.14 per cent to Rs 400.80 and Escorts over 10 per cent intraday.

Both, private as well as government weather forecaster predicted ‘above normal’ rains this year, which eased fears over farm and economic growth after two consecutive years of drought.

Market experts believe select stocks related to agriculture and rural economy can give good return to investors on good rains ahead. G Chokkalingam, founder, Equinomics Research & Advisory, said, “Stocks like Mahindra and Mahindra (M&M) and Coromandel International are looking good ahead of monsoon. Overall, I am bullish on Indian stock market and see Sensex above 30,000 by the end of December 2016.”

Coromandel International is engaged in fertilisers, specialty nutrients, crop protection and retail sales. Shares of the company soared 5.23 per cent to Rs 208.05 on Tuesday, whereas M&M gained 0.66 per cent to Rs 1,240.75.

According to Indian Meteorological Department (IMD), monsoon will be 106 per cent of the long period average (LPA). There is 94 per cent probability that monsoon will be normal to excess this year. Anything less than 90 per cent of the LPA is termed as a ‘deficient’ monsoon and 90-96 per cent of the LPA is considered ‘below normal’. Monsoon is considered as ‘normal’ if the LPA is between 96-104 per cent of the LPA. ‘Above normal’ monsoon is between 104-110 per cent of the LPA and anything beyond 110 per cent of the LPA is considered ‘excess’.

Skymet, a private weather forecasting agency, on Monday predicted ‘above normal’ Southwest monsoon this year. Above normal monsoon would augur well for the agriculture sector which is under stress due to two consecutive years of poor seasonal rainfall.

Prakash Diwan, market analyst, prakashdiwan.in, said, “Robust rains may benefit two-wheeler stocks, especially Hero MotoCorp. In tractors, I prefer Escorts and Swaraj Automotives over M&M. In the FMCG space which offer low-priced products like Dabur and Marico will also benefit. Overall, I think Nifty will cross 8,000 soon and touch 8,200 in the first week of May.”

Pankaj Pandey, head of research, ICICI Securities said, “Sectors such as agro-chemical, NBFCs that cater to rural markets, FMCG and consumer durables are expected to benefit from the monsoon forecast.”

Agriculture has strong links with industrial and services sectors, plus a direct bearing on rural economy and consumption meaning earning recovery will be seen in many of the companies. Aasif Hirani, director, Tradebulls said, “Not only does a good monsoon increase farm production, giving more money to farmers, it also keeps inflation in check by increasing the supply of food articles. This will help in lowering interest rate which will be beneficial to the economy and our market.”

-By Rahul Oberoi | The Financial Express – Wed 13 Apr, 2016

Top 7 companies lose Rs. 48,763 crore in m-cap; TCS hit hardest

Top 7 companies lose Rs. 48,763 crore in m-cap; TCS hit hardest

The combined market valuation of seven of the top-10 most valued Sensex firms declined by Rs 48,762.5 crore last week, with IT bellwether TCS taking the steepest hit.

While TCS, HDFC Bank, CIL, Sun Pharma, ONGC, HDFC and HUL suffered losses in their market capitalisation (m-cap), RIL, Infosys and ITC emerged as gainers.Tata Consultancy Services office in Chennai. File photo.

Software major TCS, which reported a lower-than-expected 14.2 per cent growth in net profit for the October-December quarter on Tuesday (January 12), witnessed an erosion of Rs. 26,354.48 crore from its m-cap, which stood at Rs. 4,46,006.36 crore.

The market valuation of ONGC plunged by Rs. 8,298.82 crore to Rs. 1,87,835.79 crore and that of HDFC Bank dipped by Rs. 4,785.04 crore to Rs. 2,63,328.64 crore.

Mortgage lender HDFC’s m-cap slumped by Rs. 4,159.95 crore to Rs. 1,81,372.05 crore while that of CIL dropped by Rs. 1,800.16 crore to Rs. 2,00,986.72 crore.

Similarly, the valuation of Sun Pharma went down by Rs. 1,708.69 crore to Rs. 1,89,135.18 crore and that of HUL fell by Rs 1,655.36 crore to Rs 1,74,007.67 crore.

In stark contrast, the m-cap of Infosys surged by Rs. 17,812.81 crore to Rs. 2,61,897.63 crore and that of RIL jumped by Rs. 15,904.53 crore to Rs. 3,47,615.95 crore.

Infosys on January 14 reported a better-than-expected 6.6 per cent rise in its third quarter net profit and raised its annual revenue growth forecast.

Meanwhile, ITC added Rs. 321.46 crore in its market capitalisation to take it to Rs. 2,52,151.15 crore.

The pecking order of the top-10 list showed that TCS stood at number one position despite taking a big hit in m-cap, followed by RIL, HDFC Bank, Infosys, ITC, CIL, Sun Pharma, ONGC, HDFC and HUL.

On a weekly basis, the benchmark BSE Sensex fell by 479.29 points, or 1.92 per cent, to 24,455.04, its weakest closing since May 30, 2014, while the broader NSE Nifty lost 163.55 points, or 2.15 per cent, to 7,437.80.

-PTI, NEW DELHI, January 17, 2016

Sensex crashes to 19-mth low, sinks 335 pts on Asian cues

Sensex crashes to 19-mth low, sinks 335 pts on Asian cues

The benchmark BSE Sensex plunged over 335 points to hit a fresh 19-month low and the NSE Nifty crashed below the 7,500-mark in early trade today due to heavy selling by funds and investors tracking weak Asian markets amid persistent China fears.
The 30-share index was trading down by 335.43 points, or 1.34 per cent, to 24,598.90 with all sectoral indices led by metal, capital goods and PSU leading the fall with losses up to 2.29 per cent.
The Sensex had gained 82.50 points in the previous session on Friday.
 
On similar lines, the NSE Nifty dropped below the 7,500-mark by falling 105.70 points, or 1.39 per cent, to 7,495.65.
Brokers said sentiment dampened following other Asian markets amid unabated China fears which led to massive losses on global markets last week, overshadowing a strong US jobs report.
Furthermore, the depreciating rupee against the dollar also negatively impacted sentiment in the domestic market, they added.
In the Asian region, Hong Kong’s Hang Seng fell 2.61 per cent in early trade, while Shanghai composite index plunged 2.40 per cent. Japan’s market remained closed today for a public holiday.
The US Dow Jones Industrial Average ended 1.02 per cent lower on Friday’s trade.
-11 January 2016 | PTI | Mumbai