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Nifty pares gains to end flat, but settles July expiry above 10,000

All that happened in Thursday's trade

SI Reporter  |  New Delhi 

bull, bear, market, flat, sensex, nifty

The benchmark indices pared gains to end flat, led by losses in Dr Reddy's, Bharti Airtel, Tata Motors and TCS. However, the managed to settle the July series of derivatives expiry above 10,000 after the index surged past 10,100-mark in intraday trade.

Overseas, European were trading positive, while Asian hit their highest in nearly a decade after the kept interest rates unchanged on Wednesday and said it expected to start winding down its massive holdings of bonds "relatively soon" in a sign of confidence in the US economy.

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.

NSE
Source: NSE



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)

Losers


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

tata

3:24 PM Dr Reddy's extends losses to slip 3% to Rs 2,620 after 53% fall in Q1 net profit.

3:06 PM

Market check
 
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

VIX

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.

Indian destocking hits GSK consumer health care business

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. 

HDFC

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.

Maruti, Maruti Suzuki



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. 

Indiabulls

1:07 PM

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


10:58 AM

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

hcl

9:22 AM Top gainers and losers on BSE Sensex

Source: BSE

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.

9:16 AM

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.

8:50 AM

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

8:49 AM

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.

8:48 AM

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.

8:47 AM

SGX Nifty
 
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.

8:44 AM

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. 

8:43 AM

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
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Nifty pares gains to end flat, but settles July expiry above 10,000

All that happened in Thursday's trade

All that happened in Thursday's trade
The benchmark indices pared gains to end flat, led by losses in Dr Reddy's, Bharti Airtel, Tata Motors and TCS. However, the managed to settle the July series of derivatives expiry above 10,000 after the index surged past 10,100-mark in intraday trade.

Overseas, European were trading positive, while Asian hit their highest in nearly a decade after the kept interest rates unchanged on Wednesday and said it expected to start winding down its massive holdings of bonds "relatively soon" in a sign of confidence in the US economy.

image
Business Standard
177 22

Nifty pares gains to end flat, but settles July expiry above 10,000

All that happened in Thursday's trade

The benchmark indices pared gains to end flat, led by losses in Dr Reddy's, Bharti Airtel, Tata Motors and TCS. However, the managed to settle the July series of derivatives expiry above 10,000 after the index surged past 10,100-mark in intraday trade.

Overseas, European were trading positive, while Asian hit their highest in nearly a decade after the kept interest rates unchanged on Wednesday and said it expected to start winding down its massive holdings of bonds "relatively soon" in a sign of confidence in the US economy.

image
Business Standard
177 22