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 ends at new peak of 10,153.10, Sensex rises 151 points

Nifty ends at new peak of 10,153.10, Sensex rises 151 points

It also breached intra-day record of 10,137.85 reached on August 2.

The NSE Nifty on Monday closed at record high of 10,153.10 and the Sensex surged by 151 points to end at a six-week high on gains in banking, capital goods and auto stocks after unabated buying by domestic institutional investors amid positive leads from global markets.

Sentiments remained upbeat for yet another session following healthy gains across Asian and a higher opening at European markets, traders said.

The 50-share NSE Nifty closed at all-time high of 10,153.10, up 67.70 points, or 0.67% after shuttling between 10,171.70 and 10,131.30. It broke previous record closing of 10,114.65 hit on August 1.

It also breached intra-day record of 10,137.85 reached on August 2. Reflecting the bullish mood, the NSE Bank Nifty breached the 25,000 mark to hit all-time high of 25,105.35.

The 50-share NSE Nifty closed at all-time high of 10,153.10, up 67.70 points, or 0.67% after shuttling between 10,171.70 and 10,131.30. It broke previous record closing of 10,114.65 hit on August 1. It also breached intra-day record of 10,137.85 reached on August 2. Reflecting the bullish mood, the NSE Bank Nifty breached the 25,000 mark to hit all-time high of 25,105.35. The 30-share BSE Sensex also rose by 151.15 points, or 0.47% to end at 32,423.76, its highest closing since August 2 when it had settled at 32,476.74. During the day, it touched a high of 32,508.06.

The 30-share BSE Sensex also rose by 151.15 points, or 0.47% to end at 32,423.76, its highest closing since August 2 when it had settled at 32,476.74. During the day, it touched a high of 32,508.06.

The gauge had gained 610.64 points in the previous seven straight sessions.

Revival of buying by FPIs, who had been major sellers for a long spell on the Indian bourses, too accelerated the buying pace to some extent, helping the benchmark Nifty to scale new highs, brokers said.

-PTI, MUMBAI,SEPTEMBER 18, 2017 

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