3:57 PM Vinod Nair, Head of Research, Geojit Financial Services
Optimism on earnings growth and dovish tone by US Fed after keeping the key rates on hold energized the market. But volatility emerged towards close on account of expiry and concerns over valuation which influenced investors to book profit. On the other hand, better than expected results from blue-chips will attract investors to large caps as compared to small and mid caps.
3:57 PM Nifty Bank settles at 24,922 after crossing 25,000-mark for the first time ever.
3:46 PM The breadth, indicating the overall health of the market, remained negative. On the BSE, 1,844 shares declined and 880 shares rose. A total of 152 shares were unchanged.
3:45 PM Top Sensex gainers and losers (Source: BSE)
3:40 PM Broader markets underperformed. The BSE Midcap and the BSE Smallcap indices slipped 0.5% each.
3:38 PM Markets at close
The Sensex ended at its record high of 32,383, up 1 point, while the Nifty50 closed at 10,020, down 0.1 point.
3:29 PM Tata Elxsi hit a 52-week high of Rs 1,767, up 5% on BSE in intra-day trade, after the company’s board recommended 1:1 bonus share. CLICK HERE FOR FULL REPORT
3:24 PM Dr Reddy's extends losses to slip 3% to Rs 2,620 after 53% fall in Q1 net profit.
At 3:00 am, the Sensex was trading at 32,406, up 24 points, while the broader Nifty50 was ruling at 10,031, up 11 points.
3:03 PM Volatility index India VIX down 0.6% to 11
2:28 PM Earnings impact
Dr Reddy's fell over 1% to Rs 2,648 after the drug major reported 53.2% fall in its consolidated net profit at Rs 59.1 crore for the June quarter versus 126.3 crore reported in the same quarter of the previous fiscal year. The company's consolidated sales rose 2.5% to Rs 3,315 crore against Rs 3,234 crore reported in Q1FY17.
2:03 PM Earnings impact
HDFC extended gains in the noon deals by rising nearly 6% to Rs 1,726 after the country’s largest mortgage player on Wednesday posted a net profit of Rs 1,556 crore in the June quarter, compared to one of Rs 1,871 crore in April-June 2016.
1:48 PM European markets oepned higher after US Fed kept the interest rates unchanged in its policy meeting. Euro Stoxx 50 was up 0.3%, while CAC 40 added 0.4%. FTSE 100 was trading flat with positive bias.
1:38 PM Q1 earnings
Maruti Suzuki, country's largest carmaker, reported 4.4% rise in net profit to Rs 1,556 crore for the first quarter ended June 30, 2017. The stock was trading flat at Rs 7,606.
1:30 PM Indiabulls Real Estate pared gains after climbing over 9% to Rs 244, its highest since October 9, 2009. The gains came after CLSA initiated coverage on the stock with a 'buy' rating, pegging a price target of Rs 282, citing multiple key positives for the company going ahead, reported Reuters.
Markets pare some gains
At 1:07 pm, the S&P BSE Sensex was trading at 32,530, up 148 points while the broader Nifty50 index 10,066 up 46 points.
Broader markets slip in red ith BSE Midcap and BSE Smallcap indices falling 0.2% and 0.5% respectively.
12:32 PM Housing Development Finance Corporation (HDFC), YES Bank, HDFC Bank, IndusInd Bank, Maruti Suzuki India and Eicher Motors from the Nifty 50 index hit their respective new highs on the National Stock Exchange (NSE) on Thursday. Click here for detailed report
12:09 PM YES Bank surged 5% to Rs 1,797, extending its Wednesday’s 6% rally on NSE, after the bank’s gross non-performing assets (GNPAs) has come down by Rs 654 crore in absolute terms and 55 bps QoQ to 0.97% during April-June (Q1FY18) quarter.
11:43 AM Nifty Bank hits record high
Nifty Bank gains over 300 points to hit record high of 25,011 led by gains in YES Bank, Indusind Bank, HDFC Bank and IDFC Bank
11:28 AM Maruti Suzuki gains over 1% ahead of June quarter results
Emkay Global on HCL Tech results
We maintain our positive view on HCL Technologies and believe it would continue to deliver sector-leading growth over FY17-20E. We currently have an Accumulate rating on the stock and may review our estimates post the earnings call today
10:50 AM Nifty hits 10,100 on back of strong earnings optimism, Fed's dovish stance and hope of interest rate cut in the coming RBI policy meet
10:41 AM Shares of Indiabulls Real Estate rose nearly 9% intraday post its removal from the F&O ban
10:18 AM At 10:15, the S&P BSE Sensex was trading at 32,586, up 204 points while the broader Nifty50 index 10,091 up 70 points.
In broader markets, BSE Midcap and BSE Smallcap indices gained 0.5% and 0.2% respectively.
10:05 AM HDFC gained 3% on 18% growth in the overall loan book on an Assets Under Management (AUM) basis in Q1.
9:45 AM All sectoral indices except Nifty Pharma trade in green. Nifty Realty gains the most, up 1.5%, followed by Nifty IT (up 0.9%), Nifty Financial Services (up 0.8%) and Nifty Bank (up 0.8%)
9:27 AM HCL Tech up 3.7% as company maintains FY18 guidance, reports earnings in line with estimates
9:22 AM Top gainers and losers on BSE Sensex
9:18 AM At 9:17 am the S&P BSE Sensex was trading at 32,512, up 130 points while the broader Nifty50 index 10,068 up 47 points.
In broader markets, BSE Midcap and BSE Smallcap indices were in line with the frontline indices, up 0.5% each.
Benchmark indices continued the bull run, opening higher on Thursday with Nifty crosiing 10,050-mark and Sensex up over 100 points as US Fed kept the rates steady, softening its stance on inflation that promised to keep US interest rates low for longer.
Back home, optimism on corporate earnings also kept the sentiment going ahead of the July F&O Expiry.
9:05 AM Markets open higher in pre-open trade following Asian stocks on dovish comments by the US Federal Reserve. Nifty crosses the 10,050-mark while Sensex was trading up by over 100 points.
9:03 AM Stocks to watch
Axis Bank: The private lender will buy digital payments platform Freecharge
Capital First: The RBI has said that the FII investment in Capital First has crossed limit of 24%.
8:59 AM HCL Tech announce earnings
IT major HCL Technologies will be in focus in today's trade after the company reported a 10.7% sequential fall in net profit at Rs 2,210 crore for the June quarter. Revenue for the quarter rose 0.8% QoQ to Rs 12,149 crore. This was 7.2% higher than the previous quarter on YoY basis.
8:55 AM Top trading ideas from Prabhudas Lilladher
GUJARAT ALKALIES & CHEMICALS - BUY
CMP: Rs 412.95
TARGET: Rs 445
STOP LOSS: Rs 390
EROS MEDIA - BUY
CMP: Rs 242.55
TARGET: Rs 270
STOP LOSS: Rs 215
BHUSHAN STEEL - BUY
CMP: Rs 74.80
TARGET: Rs 85
8:53 AM Fed keeps rates steady
The Fed kept its benchmark lending rate in a target range of 1.00% to 1.25%, as expected, and said it was on track to continue the slow path of monetary tightening that has lifted rates by a percentage point since 2015.
In a statement following a two-day policy meeting, the US central bank's rate-setting committee indicated the economy was growing moderately and job gains had been solid.
"The committee expects to begin implementing its balance sheet normalization program relatively soon," the Fed said, adding that it would follow a plan outlined in June to trim its holdings of US Treasury bonds and mortgage-backed securities.
67 companies to report Q1 results today
Biocon, Maruti Suzuki, ITC, ICICI Bank, Dr Reddy’s, Exide Industries, Glenmark Pharma, Idea Cellular, ONGC, Tata Coffee, Tata Elxsi are among the 67 companies to report their earnings today
Market-wide rollovers at 54%
Market-wide rollovers stood at 54% till Wednesday, lower than the average rollovers of 57% seen in the last three series. On the other hand, Nifty rollovers stood at 49%, which were lower compared with the average rollover of 56% in the last three series.
Oil jumps to near eight-week high
Oil prices rose to near eight-week highs, with Brent crude futures above $50 a barrel, as a much steeper than expected decline in US inventories encouraged hopes the global crude glut would recede.
The Nifty50 futures on the Singapore Stock Exchange were trading 11 points higher at 10,042 indicating a positive opening for the domestic market.
8:45 AM Asian stocks soared
Stocks, bonds and commodities were all on a roll in Asia on Thursday as bulls scented a softening in the Federal Reserve's confidence on inflation that promised to keep US interest rates low for longer.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.5% to heights not seen since January 2008. It has gained nearly 5% so far this month.
South Korea added 0.6% and Australia 0.2%, while Japan's Nikkei was kept flat by a firmer yen.
Dollar hits 13-month low
The dollar touched its lowest level in more than a year against a basket of currencies after the release of the Federal Reserve's policy statement following its July meeting.
Wall Street hits record high
US markets ended at fresh closing high in overnight trade after the US Fed kept interest rates unchanged and on strong earnings reports.
The Dow Jones Industrial Average rose 97.58 points, or 0.45%, to 21,711.01, the S&P 500 gained 0.7 points, or 0.03%, to 2,477.83 and the Nasdaq Composite added 10.57 points, or 0.16%, to 6,422.75.
First Published: Thu, July 27 2017. 15:33 IST