MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

Mukesh Ambani-controlled Reliance Industries (RIL) on Thursday became the first company to cross Rs 8 trillion in terms of market capitalisation (market-cap), becoming the country's most valued firm.

3:40 PM

Nifty sectoral gainers and losers of the day

3:37 PM

BSE Sensex: L&T, RIL, NTPC among top gainers of the day

3:35 PM

Market at close

The S&P BSE Sensex settled at a fresh record closing high of 38,337, up 51 points, while the broader Nifty 50 index closed at a new high of 11,583, up 12 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38,487.63. The Nifty50 index, on the other hand, touched its record high level of 11,620.70.

3:26 PM

JB Chemicals surges 12% as board mulls share buyback proposal

JB Chemicals & Pharmaceuticals has rallied 12% to Rs 338 on the BSE in intra-day trade after the company announced that its board will meet on August 31, 2018, to consider a share buyback proposal. READ MORE

3:19 PM

Kerala flood hits spice market as shortage in supply pushes up prices

Those entering the Khari Baoli market in Old Delhi are greeted with the distinct aroma of cardamoms, pepper and other spice. But, if one wants to buy any, they will have to now shell out more. The flood in Kerala — the source of many of these spices — has hit supply. READ MORE

3:02 PM

MFs gain larger share in June quarter; FPIs drop to lowest in 4 years

In the past three years, mutual funds’ (MFs) equity investments have accelerated even as foreign portfolio investors (FPI) inflows have seen massive de-growth from the FY15 peak. This reflects in the latest June quarter shareholding data, where MF ownership in the top 200 stocks — which account for 75 per cent of India’s market capitalisation — has scaled new highs, while that of FPIs has dropped to its lowest level in four years. READ MORE

2:45 PM

From Merc to Unilever, India Inc takes advantage of demand to raise prices

From Mercedes-Benz AG to Unilever, companies in India are finding power to pass on higher costs to consumers, a sign that demand in the world’s fastest-growing major economy is well-entrenched. READ MORE

2:32 PM

Top gainers in BSE 500:

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
J B CHEM & PHARM	330.50	27.15	8.95	144766
ZENSAR TECH.	1561.00	110.80	7.64	14684
ITI	93.15	6.55	7.56	301867
J KUMAR INFRA	235.00	14.75	6.70	37522
KAJARIA CERAMICS	487.95	30.30	6.62	333307

2:17 PM

Gold falls as US tariff fears, rate hike views buoy dollar

Gold prices fell on Thursday, after hitting a one-week high in the previous session, as fears of another round of US tariffs on China and expectations of higher interest rates lifted the dollar.

Spot gold was down 0.3 per cent at $1,191.62 an ounce. Prices hit their highest since Aug. 13 at $1,201.51 in the previous session, but failed to hold the psychological $1,200 level after recovering from 1-1/2 year lows touched last week. US gold futures were down 0.5 percent at $1,197.8. READ MORE

1:59 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	38,326.84	+41.09	+0.11
S&P BSE SENSEX 50	12,126.21	+16.36	+0.14
S&P BSE SENSEX Next 50	34,759.85	+125.06	+0.36
S&P BSE 100	11,883.73	+20.11	+0.17
S&P BSE Bharat 22 Index	3,665.26	-4.42	-0.12

(Source: BSE)

1:56 PM

STOCK ALERT RIL becomes first Indian company to cross Rs 8 trillion in market cap

Reliance Industries on Tuesday became the first company to cross Rs 8 trillion in terms of market valuation, becoming the country's most valued firm. READ MORE

Stock quote:

1:44 PM

NEWS ALERT Reliance Industries (RIL) becomes the first company with a market cap of Rs 8-trillion

1:39 PM

SEBI chief calls for caution in mutual funds' debt investments

India's debt mutual fund managers need to be vigilant and appropriately value their investments in corporate papers, even as a bulk of the money comes from institutional investors, the chief of the country's market regulator said on Thursday. READ MORE

1:30 PM

Reliance Power unit wins $56 million arbitration award; shares up 0.74%

Reliance Power on Thursday said its wholly-owned subsidiary Reliance Power Netherlands BV has won an international arbitration award of USD 56 million (Rs 390 crore) against Prestige Capital Holdings (a Seychelles-based company) and Kokos Jiang. Reliance Power said the arbitration related to a contractual dispute in the context of company's coal mines in Indonesia.

Shares of Reliance Power were trading 0.74 per cent higher at Rs 33.95 apiece on BSE. READ MORE

1:13 PM

Sebi cracks the whip on investors for trading in illiquid stock options

Markets regulator Securities and Exchange Board of India (Sebi) has issued show cause notice to over 500 investors, seeking explanation over alleged illicit gains made through trading in illiquid stock options. READ MORE

1:03 PM

FMCG stocks gain; Nestle India, Britannia, Dabur, GSK Consumer hit new high

Shares of fast moving consumer goods (FMCG) companies were on a roll with Nestle India, Britannia Industries, Godrej Consumer Products, Dabur India and GlaxoSmithkline Consumer Healthcare have rallied up to 7%, hitting their respective new highs on the BSE in an otherwise subdued market. READ MORE

12:46 PM

Customers' needs and perceptions have evolved: Vikas Seth, CEO, Bharti AXA

Vikas Seth, managing director and chief executive officer of Bharti AXA Life Insurance Company, claims there is a shift in customers’ needs and they are demanding more protection policies. He talks to Advait Rao Palepu about the company’s expansion plans, industry trends and how the macro environment will affect the life insurance industry. READ MORE HERE

Vikas Seth, CEO of Bharti AXA life insurance

12:29 PM

RCom completes sale of some assets to Reliance Jio for Rs 20 billion

Reliance Communications on Thursday said it has completed the planned sale of its media convergence nodes (MCNs) and related infrastructure assets, worth Rs 20 billion, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO).

 

The transaction entailed 248 nodes covering close to 5 million sq. ft. of the area, used for hosting the telecom infrastructure, all of which now stands transferred to Jio, RCom said in a statement. READ MORE

Stock reaction:

12:13 PM

India's increased weightage on MSCI EM index yet to yield results

The increasing weightage in recent times of India in the MSCI Emerging Markets (EM) Index has not translated into additional flow of foreign money. Foreign funds have been net sellers by little over Rs 29.61 billion (little over $0.4 billion at the current exchange rate) this year, though this is still better than many other EMs. READ MORE

12:00 PM

Markets at noon

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	38,337.47	+51.72	+0.14
S&P BSE SENSEX 50	12,127.28	+17.43	+0.14
S&P BSE SENSEX Next 50	34,769.65	+134.86	+0.39
S&P BSE 100	11,885.10	+21.48	+0.18
S&P BSE Bharat 22 Index	3,663.92	-5.76	-0.16

11:51 AM

Comexes tighten noose around errant traders; penalty for non-genuine deals

 

Tightening the noose on errant traders, commodity exchanges (comexes) have levied a 100 per cent penalty on members facilitating non-genuine trades.

 

While comexes had already issued guidelines to identify non-genuine or errant traders, a circular issued by both national platform— Multi Commodity Exchange of India (MCX) and National Commodity and Derivatives Exchange (NCDEX)—dated August 20 made members responsible for such trades. Earlier, comexes used to issue only warnings to the concerned members. READ MORE

11:39 AM

I see lot of retail flows this year from FD investors: Amfi chairman

 

The Association of Mutual Funds in India (Amfi) will be holding the second edition of its annual MF Summit today. A Balasubramanian, chairman of Amfi and chief executive officer of Aditya Birla Sun Life MF, talks about what lies ahead for the industry. Read full interview here

11:26 AM

Nifty Pharma index hits 52-week high; Cipla, Sun Pharma touch 52-week highs

 

Shares of pharmaceutical companies extended their upward journey with the Nifty Pharma index hitting its 52-week high on the National Stock Exchange (NSE), on positive corporate announcements from Strides Pharma Science and Lupin.

 

Lupin, Cipla, Cadila Healthcare, Dr Reddy’s Laboratories, Aurobindo Pharma, Divi’s Laboratories, Sun Pharmaceutical Industries from the index were up in the range of 1% to 5% on the NSE. Of these Sun Pharma, Divi’s Laboratories and Cipla have hit their respective 52-week highs in intra-day trade. READ MORE

11:11 AM

ANALYSIS Understanding the recent market rally

 

The pattern of financial returns in the last month have been affected by unusual circumstances. The rupee has fallen against the dollar. Gold and silver have both lost ground.

 

However, the Nifty is up and there's been positive returns across every sector. Logically, we would expect export-oriented stocks to have done well, given that the rupee has weakened and is expected to fall further. However, this is also when Q1 corporate results have come in, and those have definitely influenced trading. READ MORE

10:54 AM

NEWS UPDATE Arun Jaitley takes charge as FM after a three-month break due to surgery

 

A little more than three months after Arun Jaitley underwent a successful kidney transplant surgery, he is set to take back charge of Finance and Corporate Affairs Ministry at 11 am today. Piyush Goyal, who was the caretaker Finance Minister in Jaitley’s absence, will continue as Railways and Coal Minister.

 

Jaitley underwent surgery at the All India Institute of Medical Sciences (AIIMS) on May 14. He had been keeping unwell since early April due to kidney-related problems and chest infection. The initial assessment by the doctors post-surgery was that he would take at least eight weeks to recover. READ MORE

10:40 AM

MARKET DEBUT CreditAccess Grameen makes weak debut; lists 9% below issue price

 

Shares of CreditAccess Grameen made a weak debut by listing at Rs 385, 9% below its issue price of Rs 422 per share on the BSE. On the National Stock Exchange (NSE), the stock opened at Rs 390. 

 

CreditAccess Grameen had concluded an Rs 11.31 billion initial public offer (IPO). The issue was subscribed 2.22 times mainly by qualified institutional buyer (QIB). READ MORE

10:25 AM

Rise in share of equity funds boosts HDFC AMC's Q1; profits up 25%

 

After strong listing gains on August 6, the HDFC AMC stock corrected by three per cent to Rs 1,760.65 on Tuesday. However, analysts believe that given the potential for growth, the stock could see some upside from these levels.

 

In its June quarter results, the first after listing, the company clocked 25 per cent year-on-year growth in net profit to Rs 2.1 billion, driven by expansion of its equity assets under management (AUM). READ MORE

10:10 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	38,349.36	+63.61	+0.17
S&P BSE SENSEX 50	12,132.83	+22.98	+0.19
S&P BSE SENSEX Next 50	34,720.52	+85.73	+0.25
S&P BSE 100	11,887.19	+23.57	+0.20
S&P BSE Bharat 22 Index	3,665.74	-3.94	-0.11

9:55 AM

STOCK ALERT Mahanagar Gas falls 7% after huge block deals

Shares of Mahanagar Gas Limited (MGL) have slipped 7.4% to Rs 836 per share on the National Stock Exchange (NSE) in early trade after a nearly 26% or 25 million equity shares of the company changed hands on the counter. Till 09:30 am; a combined 25.31 million equity shares representing 25.6% of total equity of MGL changed hands on the NSE and BSE, the exchanges data show READ MORE

9:54 AM

TOP GAINERS ON BSE

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
ITI	94.30	7.70	8.89	168981
WELSPUN CORP	157.30	8.65	5.82	309775
KWALITY	27.10	1.29	5.00	113056
GLAXOSMITH C H L	7455.20	340.45	4.79	1691
WELSPUN INDIA	67.90	2.85	4.38	308115