Nifty ends above 10k for first time ever, Sensex closes at record high too
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3:54 PM Market breadth remained neutral with 1360 advances as against 1326 declines
3:47 PM Nifty Metal index was the top sectoral gainer, up 1.7% led by gains in Jindal Steel and Power (up 8%), Tata Steel (up 2.3%), Vedanta (up 2.2%), NMDC (up 2.1%) and JSW Steel (up 1.8%)
3:44 PM Yes Bank ended the day over 6% higher after the private lender announced Q1 PAT at Rs 960 cr, in line with Street expectations. The company board also approved stock split in ratio of 5-for-1.
3:40 PM Emkay Global maintains a HOLD rating on HDFC post Q1 numbers with a target price of Rs 1,528
3:40 PM In broader markets, BSE Midcap and BSE Smallcap indices ended 0.2% and 0.3% higher respectively
3:39 PM The S&P BSE Sensex ended at fresh closing high of 32,382, up 154 points. The broader Nifty50 index, too settled at new closing high of 10,020, up 56 points.
3:37 PM Top gainers and losers on BSE Sensex
3:36 PM FPIs invest over $25 billion in Indian markets in CY17 READ ABOUT IT HERE
3:34 PM All sectoral indices except IT and PSU Banks settled the day in green. Nifty Bank and Nifty Smallcap index also ended at fresh highs.
3:33 PM Markets end higher with Nifty closing above 10,000-mark for teh first time ever. Sensex also ended at new record high led by gains in metals and pharma stocks.
3:12 PM Nifty Bank up 166 points at 24,687.15, trades at day's high
3:10 PM Nifty gained as much as 59 points to hit fresh high of 10,023, surpassing previous high of 10,011, hit yesterday. Senses also hit a new high of 32,413, rising as much as 185 points
2:47 PM Top gainers and losers on BSE Sensex
2:35 PM Mixed Q1 for HDFC
HDFC trades flat after the company announced 16% fall in net profit to Rs 1,556 crore vs 1,870 crore in the same quarter last year.
YES Bank gained 4% after it announced Q1 PAT at Rs 960 cr, in line with Street expectations. The company board also approved stock split in ratio of 5-for-1.
The private lender reported the net NPA at 0.39% vs 0.81% (QoQ)
2:04 PM Market Check: At 2:03 pm, the Nifty was trading at 10,003 up 38 points, while the Sensex was ruling at 32,364, up 135 points.
In broader markets, BSE Midcap and BSE Smallcap indices gained 0.2% and 0.4% respectively.
1:53 PM Vedanta rose nearly 3% to their highest since Sept. 25 2014, after better margins from zinc operations helped double the company's June-quarter consolidated profit.
1:32 PM Axis Bank fell over 3% and was among the top percentage losers on both the frontline indices after the private lender posted a 16% fall in June quarter profit. Analysts say concerns over the banks' unrecognised stress in power and others sectors linger.
1:26 PM The Nifty has hit a string of record highs this year and is Asia's third best-performing index this year with a 22% gain
1:14 PM Currency Check: The dollar bobbed above a 13-month low against a basket of major currencies on Wednesday, as investors awaited the US Federal Reserve's policy statement for clues on the course of its next monetary tightening.
12:52 PM US Federal Reserve is expected to keep interest rates unchanged in its policy meeting later in the day. The Fed could possibly hint that it will start winding down its massive holdings of bonds as soon as September in what would be a vote of confidence in the US economy. CLCIK HERE FOR FULL STORY
12:48 PM Foreign portfolio investors (FPIs) have pumped in over $25.4 billion into the Indian equity and debt market segments thus far in calendar year 2017 (CY17), data with the National Securities Depository Limited (NSDL) show. CLICK HERE FOR FULL REPORT
11:38 AM Metals stocks are in focus. Nifty Metal index hit 34-month high, and was the leading sectoral gainer. Hindalco, Vedanta were trading above their respective 52-week highs. CLICK HERE FOR THE REPORT
11:02 AM Markets check
At 11:00 am, the Sensex was trading at 32,317, up 89 points, while the broader Nifty50 was trading at 9,992, up 28 points.
11:01 AM Bharti Airtel fell over 1% after the price war with Reliance Jio led to a 75% drop in net profit for the company at Rs 367 crore for the three months ended June. CLICK HERE FOR MORE
10:16 AM GE T&D India is locked in upper circuit of 20% at Rs 393, also its 52-week high on BSE, after the company reported net profit of Rs 61.7 crore in June quarter (Q1FY18), on the back of healthy operational growth. The company engaged in electric utilities business had posted a net loss of Rs 197 crore in Q1FY17.
9:59 AM Tata Steel (up 2%) was the leading gainer on Sensex. The company is in talks with a Russia-based firm to put up a facility for downstream steel products at its Gopalpur industrial park in Odisha. The steel company is the anchor tenant for the park spreading over 2,900 acres of land, where around 1,235 acres of land has been notified as a Special Economic Zone (SEZ).
CLICK HERE FOR THE REPORT
9:47 AM Sectoral trend (Source: NSE)
9:35 AM National Fertilizers tanked 7% to Rs 73 after the government said that it will sell 15% stake in the company at a floor price of Rs 72.80 a share through a two-day offer for sale beginning today. The sale of 7.35 crore shares or 15% stake would fetch about Rs 530 crore to the exchequer.
9:27 AM Axis Bank was down nearly 2% to Rs 533 after the private sector lender Axis Bank reported a 16% year-on-year (y-o-y) fall in net profit to Rs 1,306 crore in the June quarter (Q1) on the back of flat net interest income (NII). CLICK HERE FOR DETAILED EARNINGS
9:23 AM Broader markets outperformed marginally. The BSE Midcap was up 0.2%, while the BSE Smallcap gained 0.3%.
9:22 AM Top Sensex gainers and losers (Source:BSE)
9:19 AM Markets at open
At 9:18 am, the Sensex was trading at 32,242, up 13 points, while the Nifty50 was ruling at 9,969, up 5 points.
9:14 AM Stocks in focus
Bharti Airtel, Reliance Industries, ICICI Prudential, Indraprastha Gas and Hero MotoCorp
9:10 AM Earnings impact
Bharti Airtel was trading flat at Rs 428 after falling over 3% in pre-open trade. The telecom major reported a 14% year-on-year (YoY) fall in the April-June quarter with a consolidated revenue of Rs 21,958 crore. Revenues were, however, better than the consensus estimates of Rs 21,903 crore.
9:07 AM Pre-open trade
The S&P BSE Sensex was trading at 32,247, up 18.91 points, while Nifty was ruling at 9,984, up 20 points.
8:57 AM Buy Jain Irrigation and Cholamandalam Investment & Finance, says HDFC Securities. CLICK HERE FOR DETAILS
8:54 AM FII/DII data
On Tuesday, foreign institutional investors bought equities worth Rs 270 crore, while the domestic institutional investors sold equities worth Rs 209 crore.