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Nifty fails to hold above 9,900; BSE Midcap, Smallcap hit fresh highs

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SI Reporter  |  New Delhi 

After an over 300-point fall in Sensex yesterday and Nifty closing below the crucial 9,850 levels, the benchmark indices settled higher on Wednesday, while the broader indices hit fresh closing highs. Among individual stocks, a strong rally in Aurobindo Pharma, up on hopes of higher US sales, and Hindustan Unilever hitting a record high after its June quarter results, hogged the limelight. Meanwhile, a weak US dollar combined with upbeat Chinese data to lift emerging market and Asian shares to levels not seen in more than two years and global stocks to an ...

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4:11 PM

Anand James, Chief Market Strategist, Geojit Financial Services
 
Banks continue to remain expectant, while Pharma has found defensive buying, helped by positive FDA observations, helping markets to put GST shocks behind. Stock specific moves have now become more dominant with earnings beginning to flow in.

3:58 PM

Nifty oulook by Mustafa Nadeem, CEO, Epic Research
 
A bullish candlestick is observed in today's session after a Doji yesterday confirming the buying momentum. Bulls emerged at lower levels as buying was seen across sectors. 
 
A doji followed by a bullish candlestick negated the selling pressure at higher levels with Nifty retracing back to 9,900. A bullish confirmation is in place for short term. Resistance is seen at 9,920-9,930 which may continue with next possible target at 10,000 while if market cannot sustain the said resistances, we may see a mild profit-booking. though overall range becomes 9,950 - 9,800 for the short-term. 

3:53 PM ITC ends over 2% higher at Rs 291 after the stock witnessed its sharpest fall in nearly two decades – down 13% on closing basis – on Tuesday.

cigarette, ITC

3:50 PM On the sectoral front, all the sectoral indices on the National Stock Exchange (NSE) settled with gains. Recouping from yesterday’s losses, the FMCG index closed the day with gains of 1.4%. Healthcare, metals and media stocks supported the market on the upside.

3:47 PM Top Sensex gainers and losers

stocks
stocks

3:43 PM The broad market depicted strength. There were almost two gainers against every loser on BSE. 1,668 shares rose and 964 shares fell. A total of 151 shares were unchanged.

3:42 PM Broader markets outperform. The BSE Midcap (up 1%) and the BSE Smallcap (up 0.9%) hit fresh closing highs. 

3:40 PM MARKETS@CLOSE

Sensex ends at 31,955, up 244 points, while the broader Nifty50 closes at 9,899, up 72 points.

3:31 PM The S&P BSE Midcap index hit a new high of 15,265, up 1% on BSE, after a strong gain in oil & gas, metals and financial stocks. The index surpassed its previous high of 15,247.90 touched on Monday, July 17, 2017 in intra-day trade. 

midcap
midcap

3:26 PM European bourses were higher Wednesday morning as investors took stock of a series of corporate announcements from across the continent. Euro Stoxx 50 and FTSE 100 were up 0.1% each, while CAC 40 gained 0.2%. 

3:22 PM Mastek hits upper circuit of 20% at Rs 358 on strong Q1 earnings. CLICK HERE FOR FULL REPORT 

3:20 PM All sectoral indices were trading in green; Nifty Pharma leads with over 2% gains 

pharma

3:14 PM Bajaj Finance hit a new high of Rs 1,578, up 4% on BSE in intra-day trade, after the company reported a better than expected 42% year on year (YoY) jump in its standalone net profit at Rs 602 crore for the June quarter against Rs 424 crore reported in the same quarter year ago.  CLICK HERE FOR EARNINGS REPORT

3:04 PM MARKET CHECK

Markets extended gains in the late afternoon deals with Nifty50 rising as much as 9,899. At 3:00 am, the Sensex was trading at 31,945, up 234 points, while the broader Nifty50 was ruling at 9,891, up 64 points. 

2:50 PM Broader markets continue to outperform headline indices. BSE Midcap and BSE Smallcap indices up nearly 1% each. 

2:14 PM

At 2:10 pm, the Sensex was trading at 31,875, up 164 points, while the broader Nifty50 was ruling at 9,875, up 48 points. 

BSE, Sensex, stocks

1:35 PM A Reuters poll showed that India will reclaim its position as the fastest growing major global economy this year, partly propelled by benefits from GST regime and bolstered by an expected  interest rate cut by RBI in its next policy meeting in August. CLICK HERE FOR FULL REPORT 

1:07 PM

The dollar huddled near multi-month lows on Wednesday as investors wagered any further tightening in the United States would be slow at best, while optimism on China's economy underpinned Asian shares and commodities.
 
The US currency was still smarting after the collapse of the Republicans' push to overhaul healthcare dealt a blow to President Donald Trump's ability to pass promised tax cuts and infrastructure spending.

12:14 PM Top gainers and losers on BSE Sensex


12:13 PM Market Check: At 12:10 pm, the S&P BSE Sensex was trading at 31,880, up 169 points while the broader Nifty50 index was ruling at 9,876, up 49 points.

In broader markets, BSE Midcap was up 0.7% while the BSE Smallcap gained 1% 

11:53 AM Balaji Telefilms hits 9-year high on fund raising plans; zooms 128% in 2017. Click here for full report

11:41 AM Sasken Technologies fell 3.56% on BSE after its consolidated net profit fell 60.06% to Rs 17.30 crore on 0.07% decrease in net sales to Rs 117.58 crore in Q1 June 2017 over Q4 March 2017.

11:35 AM Media firm Zee Entertainment Enterprises Ltd (ZEEL) gained over 3% after the firm said on Tuesday that it has acquired the remaining 51% stake in Fly By Wire.

Nifty Media index rose over 1.5% making it one of the top sectoral gainers on NSE. Dish TV, EROS Media, Network 18 and Sun TV also gained between 1-3% n today's trade.

TV to ride the media & entertainment boom

10:59 AM

Commodity alert:

Gold prices held steady on Wednesday, not far from the over two-week highs hit in the previous session, as the dollar crept up from multi-month lows even as fading prospects of a U.S. monetary tightening continued to pressure the greenback.

10:51 AM ITC gains 1.2% after worst fall in two decades. Is the worst over? 

Here's what brokerages and research houses think


Image via Shutterstock
Image via Shutterstock

10:30 AM Aurobindo Pharma surged 8% to Rs 795 on BSE in intra-day trade after the company announced that it has received final approval from the US Food and Drug Administration (USFDA) to manufacture Sevelamer Carbonate tablets, a kidney disease drug.

10:15 AM At 10:14 am, the S&P BSE Sensex was trading at 31,835, up 124 points while the Nifty50 index was ruling at 9,863, up 38 points.

In broader markets, the BSE Midcap and BSE Smallcap were trading 0.5% and 0.8% higher respectively.

10:07 AM All sectoral indices were trading in green led by pharma and realty sectors.


9:32 AM ONGC fell nearly 1% on proposed merger of ONGC and HPCL. The government is likely to give the control of HPCL to ONGC, which is in agenda for the Cabinet meeting to be held later today.

HPCL, on the other hand, gained 1% in today's trade

9:28 AM ITC gains

After a 12% fall yesterday on rise in cess for tobacco products, ITC gained over 1% in today's trade on value buying. The stock has fallen over 10% in July so far. 




9:22 AM Top gainers and losers on BSE Sensex

m

9:20 AM Markets opened higher with Sensex gaining over 100 points and Nifty50 recliaming the 9,850 mark amid mixed global cues. Gains were however capped on speculations around corporate earnings and collapse of the healthcare bill in US.

At 9:17 am, the S&P BSE Sensex was trading at 31,822, up 111 points while the broader Nifty50 index was ruling at 9,870, up 48 points.

In broader markets, BSE Midcap and BSE Smallcap indices gained 0.5% each

9:07 AM Sensex, Nifty trade in green in pre-open trade: SEnsex up over 100 points whilt NIfty recliams 9,850-mark

bse, sensex, bull

9:04 AM Top trading ideas by HDFC securities:

BUY Dr Lal Path Lab between Rs 864-840


BUY Lupin between Rs 1156-1135

Click here for full report

9:03 AM

Top technical calls from Prabhudas Lilladher: 
 
BUY Bata India for an upside target of Rs 600 at a stop loss of Rs 545
 
BUY Shriram City Union Finance for an upside target of Rs 2,600 at a stop loss of Rs 2,150
 
BUY Oil India for an upside target of Rs 310 at a stop loss of Rs 258
 

8:56 AM

15 companies to report Q1 results today:
 
Companies including Amtek Auto, Bajaj Finserv, Bajaj Finance, Canara Bank, Havells India, Jubilant Industries and MindTree will announce their Q1 results today.

8:55 AM

Watch out for ONGC, HPCL
 
The Cabinet is likely to consider on Wednesday the sale of government's 51.11% stake in Hindustan Petroleum Corp (HPCL) to Oil and Natural Gas Corp (ONGC) for over Rs 28,000 crore. Click here for full report

ONGC
ONGC

8:54 AM SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 10 points higher at 9,867 indicating a positive opening for the domestic market.

8:54 AM Wall Street

Wall Street had ended Tuesday mixed after a heavy dose of corporate earnings. The Dow Jones Industrial Average 0.25% while the S&P 500 gained 0.06%. On the other hand, Nasdaq Composite reached a record high of 6,344.31, up 0.47%.

8:52 AM

Asian Markets

Investor sentiment has been supported by a raft of upbeat economic news out of China in Asian markets. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.16% in early trade at its highest since April 2015.
 
Australia's main index climbed 0.7%, but the strength of the yen nudged Japan's Nikkei down 0.1%.

First Published: Wed, July 19 2017. 15:37 IST
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Watch this space for all the live market updates After an over 300-point fall in Sensex yesterday and Nifty closing below the crucial 9,850 levels, the benchmark indices settled higher on Wednesday, while the broader indices hit fresh closing highs. Among individual stocks, a strong rally in Aurobindo Pharma, up on hopes of higher US sales, and Hindustan Unilever hitting a record high after its June quarter results, hogged the limelight. Meanwhile, a weak US dollar combined with upbeat Chinese data to lift emerging market and Asian shares to levels not seen in more than two years and global stocks to an ... image
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Nifty fails to hold above 9,900; BSE Midcap, Smallcap hit fresh highs

Watch this space for all the live market updates

After an over 300-point fall in Sensex yesterday and Nifty closing below the crucial 9,850 levels, the benchmark indices settled higher on Wednesday, while the broader indices hit fresh closing highs. Among individual stocks, a strong rally in Aurobindo Pharma, up on hopes of higher US sales, and Hindustan Unilever hitting a record high after its June quarter results, hogged the limelight. Meanwhile, a weak US dollar combined with upbeat Chinese data to lift emerging market and Asian shares to levels not seen in more than two years and global stocks to an ...

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