MARKET WRAP: Indices end at over 5-month high, Nifty at 10,947; RIL up 3%

Benchmark indices rose on Tuesday led by index heavyweights such as Reliance Industries (RIL).

3:42 PM

Nifty Realty index ends 1.80% higher. Top gainers:

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)
UNITECH	4.30	4.10	0.20	4.88
DLF	194.30	187.30	7.00	3.74
OBEROI REALTY	488.80	473.25	15.55	3.29
INDBULL.REALEST.	150.35	148.15	2.20	1.48
H D I L	20.05	19.95	0.10	0.50

3:37 PM

Nifty sectoral performers of the day

3:35 PM

BSE Sensex: RIL, Wipro, Yes Bank among top gainers of the day, IndusInd Bank top loser

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 36,240, up 305 points while the broader Nifty50 index settled at 10,947, up 94 points.

3:16 PM

IndusInd Bank Q1 up by 24% at Rs 10.36 billion, asset quality falls

Private sector IndusInd Bank on Tuesday posted a 23.8 per cent rise in its net profit at Rs 10.35 billion for the quarter ended June 2018 on higher income mainly from interest. This was against a net profit of Rs 8.36 billion in the corresponding period of previous year.

 

Total income during the quarter rose to Rs 63.69 billion, up by 20 per cent as against Rs 53 billion in the same quarter of last year. READ MORE

3:02 PM

Shriram Transport Finance extends gain on reports of merger

 

Shares of Shriram Transport Finance Company were up by 7% at Rs 1,218 per share, extending their 3% gain on the BSE on Monday, after the company said that it continuously evaluates various opportunities for enhancing shareholders’ value.

 

The company made a clarification on the Business Standard new report on Shriram group may merge two firms. READ MORE

2:45 PM

June inflation likely reached highest level in nearly two years

 

Indian inflation likely rose to a near two-year high in June, driven by surging oil and food prices, a Reuters poll showed, a development that would strengthen calls for more monetary policy tightening by the Reserve Bank of India.

 

According to a July 4-9 Reuters poll of 37 economists, retail prices rose at an annual 5.30 percent last month. That would be the fastest since July 2016, well above May’s 4.87 percent and keep inflation above the central bank’s 4 percent target for an eighth straight month.

2:30 PM

TCS Q1FY19 result preview: Commentary on BFSI, digital business key

 

Tata Consultancy Services (TCS) is likely to announce its results for the June quarter (Q1FY19) post market hours on July 10. In the recently concluded quarter, TCS – the largest Indian IT firm by sales – announced Rs 160 billion buyback under the tender route. This is the second time in as many years that the Tata group company is resorting to a buyback.

 

On a year-to-date basis, the stock has rallied around 40 per cent and has outperformed the Nifty IT index that gained over 20.68 per cent during this period. In comparison, the Nifty50 index is up 2.94 per cent YTD, ACE Equity data showed. In the last quarter (Q1FY19), however, the stock gained 29% as compared to 4.53% rise in the Nifty50 index. READ MORE

2:15 PM

INTERVIEW OF THE DAY See crude oil prices in range of $75 - $80 a barrel for next 18 months'

 

Rising prices are starting to threaten oil demand in Asia, especially in a country like India, which is starting to feel the pressure more than others. India could feel the pinch with both Venezuelan and Iranian crude, which is also of the heavier sourer variety, coming off the market, says London – based PAUL HICKIN, associate director at S&P Global Platts. READ MORE

Paul Hickin, Platts

2:04 PM

Market Check

 

S&P BSE Sensex	36,173.39		0.66%
Nifty 50	10,927.50		0.69%
S&P BSE 200	4,701.18		0.73%
Nifty 500	9,346.05		0.73%
S&P BSE Mid-Cap	15,712.26		0.84%
S&P BSE Small-Cap	16,483.79		1.04%

1:45 PM

Britannia might replace HPCL in the Nifty 50 index, says brokerage

Consumer goods company Britannia Industries could replace state-owned oil marketing company Hindustan Petroleum Corporation (HPCL) in the benchmark Nifty 50 index, said domestic brokerage ICICI Direct. Besides, JSW Steel or Godrej Consumer Products also have a fair chance of replacing Lupin in the index, the brokerage added.

 

According to brokerages, NSE could announce changes to its index next month and it could become effective from the start of the October series derivatives contract. READ MORE

1:31 PM

Equity mutual funds inflow rise 15% to Rs 330 billion in Q1 of FY19

Equity mutual funds saw inflow of nearly Rs 330 billion in the first quarter of the current fiscal, a surge of 15 per cent year-on-year, underpinned by strong participation from retail investors, especially in small towns.

 

In comparison, equity funds, which also include equity-linked saving schemes (ELSS) and arbitrage funds, saw net inflow of Rs 283.32 billion in the April-June period of last financial year, according to Association of Mutual Funds in India (Amfi). READ MORE

1:16 PM

Domestic passenger vehicle sales up 38% to 2,73,759 units in June

Domestic passenger vehicle sales rose 37.54 per cent to 2,73,759 units in June this year from 1,99,036 units in the corresponding month last year.

 

Domestic car sales were up 34.21 per cent to 1,83,885 units as against 1,37,012 units in June 2017, according to data released by the Society of Indian Automobile Manufacturers (SIAM). READ MORE

AUTOMOBILE STOCKS RALLY:

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)
BAJAJ AUTO	3089.65	3017.95	71.70	2.38
ASHOK LEYLAND	134.00	130.90	3.10	2.37
SML ISUZU	815.00	798.15	16.85	2.11
EICHER MOTORS	28011.35	27686.60	324.75	1.17
MARUTI SUZUKI	9464.85	9369.45	95.40	1.02

1:00 PM

Top BSE500 gainers

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
TRIDENT	60.50	5.75	10.50	2134942
SADBHAV ENGG.	307.00	27.00	9.64	890589
MAX INDIA	79.80	4.70	6.26	488005
PRAJ INDS.	79.90	4.55	6.04	1077543
SHRIRAM TRANS.	1206.25	65.35	5.73	3329945

12:46 PM

Bandhan Bank hits highest level since listing; up 56% against issue price

Shares of Bandhan Bank, which hit a new high of Rs 585, up 5% on Tuesday, was trading at its highest level since listing on March 27, 2018. The stock gained 54% over the issue price of Rs 375. READ MORE

12:30 PM

Fund houses jump ship ahead of ICICI Securities rout: All you need to know

 

Immediately after the lock-in period ended in April, certain fund houses have managed to escape the rout that shares of ICICI Securities witnessed in the light of Sebi’s scrutiny over its IPO. Certain fund houses managed to sell as many as 1.46 million shares in May, booking losses between 20 and 30 per cent. READ MORE

12:15 PM

Indian bourses fail to halt dragon march into Asian stock exchanges

Chinese stock exchanges are going all out in stamping their authority in the Asian financial space by picking up stake in stock exchanges across the continent. Meanwhile, India's desperate attempts to thwart China's aggressive charge have proved to be toothless. READ MORE

12:02 PM

Market at Noon

 

S&P BSE Sensex	36,159.08		0.62%
Nifty 50	10,923.20		0.65%
S&P BSE 200	4,698.87		0.68%
Nifty 500	9,344.90		0.72%
S&P BSE Mid-Cap	15,710.11		0.83%
S&P BSE Small-Cap	16,496.94		1.12%

11:45 AM

Sebi mulls compulsory delivery for metal derivatives contracts

The markets regulator is considering a proposal for delivery-based settlement of metal derivatives contracts. Both the Multi Commodity Exchange (MCX) and National Commodity and Derivatives Exchange (NCDEX) had proposals in this regard and these are being discussed with the Securities and Exchange Board of India (Sebi). READ MORE

11:30 AM

Britannia might replace HPCL in the Nifty 50 index, says brokerage

 

Consumer goods company Britannia Industries could replace state-owned oil marketing company Hindustan Petroleum Corporation (HPCL) in the benchmark Nifty 50 index, said domestic brokerage ICICI Direct. Besides, JSW Steel or Godrej Consumer Products also have a fair chance of replacing Lupin in the index, the brokerage added.

 

According to brokerages, NSE could announce changes to its index next month and it could become effective from the start of the October series derivatives contract. READ MORE

11:15 AM

Panic selling post RBI ban opens door for cryptocurrency arbitrage

 

Amid the panic induced by the freezing of bank accounts run by cryptocurrency exchanges in line with the Reserve Bank of India’s (RBI’s) direction in April, traders in India found a lucrative arbitrage opportunity to mint money like never before.

 

It all transpired on a cryptocurrency exchange platform Koinex, which had announced that it will not be accepting any more cash deposits in its digital wallet after July 6 and will not provide a cash-out facility for cryptocurrency holdings after 2pm on Monday READ MORE

11:00 AM

For Biocon, regulatory nod to give boost to biosimilar monetisation

 

Biocon’s recent announcement of it receiving good manufacturing practice (GMP) certificate from European Union’s drug regulator for its Bengaluru-based sterile manufacturing facility should ease concerns. The latest clearance to this plant, which had received some observations after inspection by UK MHRA in March 2018, paves the way for drug approvals and launch of the company’s biosimilar in Europe. READ MORE

10:44 AM

HEG, Graphite India hit new high on expectations of robust Q1 results

Shares of graphite electrode players -- Graphite India (up 4% at Rs 1,027 per share) and HEG (up 3% at Rs 3885 per share) hit their respective new highs on the BSE in intra-day trade on expectations of continuous healthy performance by these companies on the back of increasing realisations. READ MORE

10:30 AM

Arysta buy to make UPL the world's fifth largest crop protection company

 

Acquisition of Arysta Life Sciences, a part of the US-based Platform Specialty Products, if it goes through will make UPL the world's fifth largest crop protection company and the largest generic player with combined revenues of slightly lower than $4.6 billion. The company is currently the ninth largest with annual revenues of $2.7 billion. READ MORE

10:15 AM

Capital First to raise up to Rs 1 bn via private placement of bonds

Non-banking financial company Capital First on Monday said it will raise up to Rs 1 billion by issuing bonds on a private placement basis. "The debenture committee at its meeting held on Monday (July 9, 2018) has approved an issue of rated, secured, redeemable, non-convertible debentures of Rs 500 million plus greenshoe option of Rs 500 million on private placement basis," the company said in a regulatory filing. READ MORE

10:01 AM

Market Check

 

S&P BSE Sensex	36,135.08		0.56%
Nifty 50	10,906.15		0.49%
S&P BSE 200	4,693.90		0.57%
Nifty 500	9,327.65		0.54%
S&P BSE Mid-Cap	15,685.62		0.67%
S&P BSE Small-Cap	16,449.20		0.83%

9:45 AM

HCL Technologies gains 4% as board mulls share buyback proposal

HCL Technologies was up 4% to Rs 1,000 on the BSE in early morning trade after the company said on Monday after market hours that it will consider share buy-back on July 12. READ MORE

9:32 AM

BS Special IT Sector Preview: Cross currency to affect reported dollar revenue

The IT firms under our coverage universe are expected to post a combined 0.8% quarter-on-quarter (QoQ) rise in dollar revenue in the first quarter of financial year 2018-19 (Q1 FY19). Reported dollar revenue is likely to be adversely affected owing to the strengthening Dollar against major cross-currencies including euro, pound and Australian Dollar (2-4% QoQ). We expect 40-120 bps adverse impact of cross-currencies in Q1 FY19. The top-5 IT firms are likely to post -2% to +2% QoQ dollar revenue growth, with TCS likely to lead the pack. READ MORE

9:22 AM

Sectoral trend

9:20 AM

Top Sensex gainers and losers