Sensex, Nifty end at fresh closing high; IT, realty stocks charge ahead

HCL Tech (up over 5 per cent), L&T, Tech M, Hindalco, Wipro, UPL, HDFC Bank, and ITC were the top gainers

4:07 PM

CLOSING COMMENTS :: S Ranganathan, Head of Research at LKP Securities

As Global Investors digest inflation data and the FED commentary, Dalal Street Bulls were seen betting on economic recovery as IT stocks continue to power the Indices to new highs. Markets seemed in no mood to oblige investors waiting on the sidelines for a correction as sector rotation played it's part today as Capital Goods made a smart comeback across market capitalisation. The broader market was buzzing with action across Cement, Real Estate & Pharma names.

4:01 PM

MARKET VIEW :: Vinod Nair, Head Of Research at Geojit Financial

Indian indices extended its gains to all-time high supported by positive Asian market and rally in Reality, IT, Financials and Metals stocks, in anticipation of robust Q1 earnings & recovery in demand. Asian markets were positive as China reported better than forecasted economic data and the global market was boosted by the accommodative stance in the Fed official’s statement, reducing risk of change in rates.

3:59 PM

Emkay Global vaults 14%

>> Stock hit 2-year high in intraday

3:50 PM

Kitex snaps 6-day winning run, ends 10% lower

3:49 PM

LTTS jumps 19% post June quarter show

3:48 PM

Wipro ends 2.5% higher ahead of Q1 numbers

3:47 PM

BSE Midcap index adds 0.31%

> Here are the top gainers & losers from the pack

3:46 PM

BSE Smallcap index gains 0.43%

>> It hit record high of 26422.78 in intra-day today

3:42 PM

Advance-decline ratio at 1:1

3:41 PM

Sector Check :: Realty, IT sectors shine

3:40 PM

Sensex heatmap at close

3:39 PM

CLOSING BELL :: Sensex, Nifty end at record high

Sensex ends at record high of 53,158.85, up 254.80 points or 0.48 per cent. The index had hit all-time high of 53266.12 in intra-day today. Nifty50 settles 70.25 points or 0.44% higher at 15,924.20 after scaling fresh peak of 15,952.35.

3:20 PM

KIMS zooms 61% over IPO price as investors lap up shares post listing

Shares of Krishna Institute of Medical Sciences (KIMS) rose for the fourth straight day, up 6 per cent at Rs 1,325 on the BSE in intra-day trade on Thursday. The stock was trading at its highest level since its listing on July 5, 2021. With a 40 per cent rally thus far in July, KIMS stock has zoomed 61 per cent from its issue price of Rs 825 as institutional investors lapped up the company’s shares post listing. READ MORE

3:14 PM

BUZZING :: YES Bank up over 4%

3:05 PM

KIMS zooms 61% over IPO price as investors lap up shares post listing

The June quarter shareholding pattern filed by KIMS reveals that institutional investors had purchased an additional 1.24 million equity shares or 1.55 per cent stake in the company via open market post listing. Following this, mutual funds' holding increased to 10.75 per cent from 8.70 per cent, and that of foreign portfolio investors (FPIs) rose to 11.57 per cent from 10.95 per cent at the time of listing. READ MORE

2:47 PM

Brokerages, securities analysis industry good vehicles to ride bull-run

The securities analysis industry and brokerages and have benefited from the bull-run. Daily trading volumes have doubled, and retail interest has grown, with over 1 million new demat accounts added every month according to ICRA. The equity markets clocked an aggregate turnover of Rs 4,222 trillion between April-December 2020, year-on-year (y-o-y) growth of 66 per cent. Average daily turnovers increased to Rs 22.46 trillion, from Rs 13.89 trillion in April-Dec 2019. READ MORE

2:36 PM

Sequent Scientific up 9% on EUGMP nod for its tablets dosage form in Turkey

With over 120 product registrations, Sequent is the third-largest player in the Turkish ruminant market with a consolidated market share of around 10 per cent, operating through its 100 per cent subsidiaries of Provet and Topkim. The company has already embarked upon significant expansion in Turkey to meet the growing requirements of the local market along with leveraging the sites for European and other strategic markets. READ MORE

2:21 PM

MMTC Shareholding | LIC reduces its stake to 2.98% in Q1FY22 from 3.39% in Q4FY21

2:12 PM

Rupee's wild ride may end as foreign inflows surge: Credit Agricole CIB

After turning from being Asia’s best performer in the first quarter to its worst in April when another wave of Covid-19 infections took hold, the rupee is now likely to trade in tight ranges in the coming quarters, said Dariusz Kowalczyk, the bank’s head of Asia research, ex-Japan. He expects the currency to be at 74 per dollar at year-end, versus Wednesday’s close of 74.59. READ MORE

 

1:51 PM

Emkay Global at over 2-year high on heavy volumes; soars 71% in four weeks

The company’s client base includes marquee foreign institutional investors (FIIs), domestic institutional investors (DIIs), hedge funds, banks, insurance companies, mutual funds, private equity firms, family offices, small and medium-sized enterprises and super high net worth individuals (HNIs). READ MORE

1:22 PM

Sales of sub-Rs 50 lakh homes hit in 2021 as Covid bites: Knight Frank

Sales of homes priced less than Rs 50 lakh took a beating in the first half of 2021 as the country grappled with the Covid pandemic and potential buyers suffered loss of income, suggests the latest market assessment report ‘India Real Estate– Residential, January-June 2021’ by Knight Frank India. READ MORE

12:58 PM

ALERT :: Markets at 1 PM

12:38 PM

Happiest Minds, Route Mobile: How to trade buzzing stocks of the day

The bencharmark indices BSE Sensex and NSE Nifty50 hit a record high of 53,229 and 15,940, respectively in trade today, showing strengthening positive sentiment among investors and traders. So far during the year, both indices have added nearly 14 per cent. Although few shares, in the same period, have seen multi-fold returns. READ MORE

12:22 PM

Nifty IT index hits new high; Wipro, Tech M, Mindtree touches record peaks

Nifty IT index hit a new high of 29,745 in the intra-day trade today, having rallied nearly 5 per cent in the past two trading days. On Wednesday, the index surpassed its previous high of 29,311.55 hit on June 30, 2021 in the intra-day trade. In comparison, the benchmark Nifty 50 index was up 0.77 per cent in the past two trading days. READ MORE

12:06 PM

Wipro Q1 preview: PAT may jump 14-19% YoY; eyes on EBIT margin, guidance

"Deal announcements have been soft and outlook from here in terms of pipeline and investments in setting up large deal team will be key. We expect Wipro to guide for revenue growth of 1-3 per cent QoQ on an organic basis and 4.5-6.5 per cent QoQ including incremental contribution from Capco and contribution from the Ampion acquisition," said Rishit Parikh, an analyst at Nomura. READ MORE

11:47 AM

Zomato IPO update :: Issue subscribed 1.2x so far

11:44 AM

RBI governor warns of downsides to direct financing of govt fiscal deficit

Direct financing or monetisation of the government's fiscal deficit by the central bank has several downsides, Reserve Bank of India Governor Shaktikanta Das said in an interview with newspaper Financial Express published on Thursday. "This (creating new money to finance the deficit) was done away with as part of the economic reforms … and it was further repudiated when the FRBM Act was enacted," Das told the paper. READ MORE

11:28 AM

No longer discounted: Mid- and small-cap IT firms enjoy premium at bourses

The rally in mid- and small-cap stocks has spilled over into the IT sector as well. Second and third-tier IT stocks, which historically traded at a discount to the big five IT companies, are now trading at nearly 25 per cent premium to their large-cap peers. The smaller IT companies have a price-to-earnings (P/E) multiple of nearly 38 times against the big five’s current P/E multiple of around 31x. READ MORE

11:20 AM

KNR Constructions gains 5% as CRISIL revises rating outlook to positive

"The strong execution record along with healthy order book (approximately Rs 11,650 crore as of June 2021) to revenue ratio of 4.5x times is expected to support revenue growth. Operating income reported a healthy growth of 20 per cent in fiscal 2021 despite the lockdowns imposed by the government to curb the spread of the pandemic in the first half of the year. This was supported by the execution of orders from the irrigation segment which is a lesser labour intensive work. Further, operating margin remained at healthy levels of 20 per cent and is expected to sustain in the future as well," the rating agency added. READ MORE

11:04 AM

NEWS ALERT :: Sensex hits record high