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Nifty ends above 10k for first time ever, Sensex closes at record high too

Catch all that happened in the market today here

SI Reporter  |  New Delhi 

Nifty crosses 10,000 mark
Nifty ends above 10,000-mark

Benchmark indices ended the day higher with Nifty50 settling above the 10,000-mark for the first time. Sensex, too, ended at fresh closing high for the day led mainly by gains in metal, pharma stocks. 

Expectations of a better earnings season with improving economic indicators have increased investor confidence, extending a record-setting rally this year, although high valuations are seen capping gains in the near term.

The has hit a string of record highs this year and is Asia's third best-performing index this year with a 22% gain.

Street also awaited the outcome from the Federal Reserve meet, which ends later on Wednesday, and is widely expected to keep interest rates unchanged.

With a rate hike not in the picture this time, the focus will be on the Fed's statement, with looking for signs of when the US central bank will begin paring its massive bond holdings and next raise rates.

3:59 PM

Analyst view
 
Vinod Nair of Geojit Financial Services says: Better Q1 results and short covering ahead of F&O expiry took the market to new heights by gaining investors confidence. Rising commodity prices & expectations of revival in demand for metals kept the counter busy. On the global front, rising consensus expectation for status quo on US key interest rate is providing support to the market but investors are keen on FEDs statement to get cues on timing of balance sheet trimming.

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%)

Steel, metal

3:46 PM

COMMENT: Kunj Bansal - Executive Director & CIO – Equity , Centrum Wealth Management 
 
Now that the psychological number is achieved, the markets sustaining at these levels would create a solid base the next leg higher. There are many moving parts specially in the near term as it is an action packed week, with all eyes on the global Central bank commentary and the expiry coming up which would be the first test. 
 
If one looks at the bigger picture, results season has not given too many positive surprises, so the markets should consolidate around this number. The risks are ever present but manifest in different ways, one will only know the reason for things turning with the benefit of hindsight. Hence, while it’s the index at five figure number, it is a virtuous cycle which follows in terms of new investors getting carried away and getting exuberant, this is the only thing one should watch for

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

Source: BSE

3:36 PM FPIs invest over $25 billion in Indian markets in CY17 READ ABOUT IT HERE

3:34 PM

COMMENT: Motilal Oswal, CMD, Motilal Oswal Financial Services
 
From a short-term perspective, markets appear to be overheated and trading rich. A correction cannot be ruled out at this juncture. That said, this correction will not be very deep as a huge pool of cash is waiting to be deployed in the markets at lower levels. From a long-term perspective, this correction will be more like a running one and the markets will take it in stride to resume its upward journey, targeting new highs eventually

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

Source: BSE

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. 

2:20 PM

Earnings

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)

Yes Bank
A security guard stands outside a closed Yes Bank branch in New Delhi (Photo: Reuters)

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.

ax

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

Nifty crosses 10,000 mark
Nifty crosses 10,000 mark in early trade at NSE in Mumbai on Tuesday 25th July 2017 Photo: Kamlesh Pednekar

1:16 PM

European Markets: Supportive crude prices and strong results from energy firms Subsea 7 and Tullow Oil helped European shares inch higher on Wednesday, while banks weighed on index-level gains as investors awaited a Fed policy decision and UK GDP figures.
 
The pan-European STOXX 600 gained 0.3%, in line with euro zone stocks and blue-chips, as oil and gas stocks gained 0.8%.

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.

1:04 PM

Shares of gems & jewellery companies  moved higher by up to 20% on BSE after Thangamayil Jewellery posted a strong set of numbers for the quarter ended June, 2017 (Q1FY18).
 
Besides Thangamayil Jewellery, Tribhovandas Bhimji Zaveri (TBZ), Gitanjali Gems, Tara Jewels, Rajesh Exports and Renaissance Jewellery were also up between 2% and 7% on BSE

gold,  jewellery
A salesperson attends to a customer (not pictured) inside a jewellery showroom, during Akshaya Tritiya, a major gold-buying festival, in Mumbai

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

12:04 PM

Market at day's high
 
The Nifty50 reclaimed its crucial 10,000 mark in the noon deals. At 12:01 pm, the Nifty was trading at 9,999, up 35 points, while the Sensex was ruling at 32.324, up 96 points. 

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 

metals

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

Bharti-Airtel

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.

ge

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)

sectors

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. 

national fertlizers

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

Axis Bank

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)

losers

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

9:12 AM

Earnings today
 
HDFC, Federal Bank, Bharat Financial, Muthoot Finance, L&T Finance, Nestle India and a couple of entertainment companies such as PVR and Inox Leisure will announce their quarterly earnings today. 

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.

Bharti Airtel

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.  

9:04 AM

Vaishali Parekh of Prabhudas Lilladher 
 
Buy Glenmark Pharma with a target of Rs 800 and stop loss of Rs 650. CLICK HERE FOR MORE TECHNICAL CALLS

8:59 AM

Bank Nifty
 
Stop long positions at 24,425. Stop short positions at 24,625. Big moves could go till 24,825, 24,200. CLICK HERE FOR MORE

8:57 AM Buy Jain Irrigation and Cholamandalam Investment & Finance, says HDFC Securities. CLICK HERE FOR DETAILS

8:56 AM

Nifty outlook from Angel Broking 
 
On the higher degree charts, 9,750-10,050 is a cluster of strong resistance zone for Nifty and hence, traders are continuously advised to remain light on positions. The intraday support zone for the Nifty is at 9,949-9,919.

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. 

Foreign flows surpass last year's tally

8:52 AM

Rollovers 
 
Rollover activity saw pick up in IT (42%/22%) and Oil & Gas (40%/22%) on the D-2. Counters where rolls have picked up are TCS (59%/26%), JSW Steel (61%/29%) and Glenmark Pharma (46%/16%).

8:49 AM

Rollovers 
 
On Tuesday, market-wide rollovers moved to 37% which was a tad lower than the average rollovers of 38% of the last three series, while Nifty rollovers came in at 38% as compared to the average rollovers of 43% of the last three series.  

8:44 AM

Singapore Nifty
 
At 8:42 am, the SGX Nifty was trading at 9,982, up 9 points or 0.09%. 

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Nifty ends above 10k for first time ever, Sensex closes at record high too

Catch all that happened in the market today here

Catch all that happened in the market today here
Benchmark indices ended the day higher with Nifty50 settling above the 10,000-mark for the first time. Sensex, too, ended at fresh closing high for the day led mainly by gains in metal, pharma stocks. 

Expectations of a better earnings season with improving economic indicators have increased investor confidence, extending a record-setting rally this year, although high valuations are seen capping gains in the near term.

The has hit a string of record highs this year and is Asia's third best-performing index this year with a 22% gain.

Street also awaited the outcome from the Federal Reserve meet, which ends later on Wednesday, and is widely expected to keep interest rates unchanged.

With a rate hike not in the picture this time, the focus will be on the Fed's statement, with looking for signs of when the US central bank will begin paring its massive bond holdings and next raise rates.
image
Business Standard
177 22

Nifty ends above 10k for first time ever, Sensex closes at record high too

Catch all that happened in the market today here

Benchmark indices ended the day higher with Nifty50 settling above the 10,000-mark for the first time. Sensex, too, ended at fresh closing high for the day led mainly by gains in metal, pharma stocks. 

Expectations of a better earnings season with improving economic indicators have increased investor confidence, extending a record-setting rally this year, although high valuations are seen capping gains in the near term.

The has hit a string of record highs this year and is Asia's third best-performing index this year with a 22% gain.

Street also awaited the outcome from the Federal Reserve meet, which ends later on Wednesday, and is widely expected to keep interest rates unchanged.

With a rate hike not in the picture this time, the focus will be on the Fed's statement, with looking for signs of when the US central bank will begin paring its massive bond holdings and next raise rates.

image
Business Standard
177 22