Indices shrug-off trade war fears; Sensex ends 83 pts up at 35,658 levels

Among sectoral indices, the Nifty Auto index settled over 1% led by rise in the stocks of Ashok Leyland, Hero MotoCorp and Tata Motors.

3:40 PM

Nifty Auto index ended 1.3% higher today. Top gainers:

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)
ASHOK LEYLAND	132.30	125.00	7.30	5.84
HERO MOTOCORP	3637.10	3505.75	131.35	3.75
APOLLO TYRES	261.50	252.05	9.45	3.75
TATA MOTORS	270.85	261.55	9.30	3.56
BHARAT FORGE	632.35	615.20	17.15	2.79

3:37 PM

Nifty sectoral performers

3:35 PM

BSE Sensex: Hero MotoCorp, Tata Motors, Bajaj Auto among top gainers

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 35,658, up 83 points while the broader Nifty50 index settled at 10,773, up 23 points.

3:16 PM

Gold trims losses on soft dollar after US tariffs take effect

Gold prices narrowed losses on Friday as US tariffs on Chinese imports weighed on the greenback, stoking fears of a full-blown trade war between the two leading economies.

Spot gold was 0.1 per cent lower at $1,256.54 an ounce, having dropped to $1,252.15 earlier in the session. READ MORE

2:59 PM

Thyssenkrupp shares rise by 3.9% after CEO offers resignation

Shares in Thyssenkrupp rose on Friday after Chief Executive Heinrich Hiesinger unexpectedly offered to step down, less than a week after sealing a landmark joint venture deal with India's Tata Steel. READ MORE

2:45 PM

Asian Paints, Hindustan Unilever, TCS hit new highs

Shares of paint company Asian Paints, fast moving consumer goods (FMCG) firm Hindustan Unilever (HUL) and information technology giant Tata Consultancy Services (TCS) from the Sensex have hit their respective new highs on the BSE on Friday.
 

Thus far in the current calendar year 2018, these three stocks have outperformed the market by gaining in the range of 15% to 39%, as compared to 4.5% rise in the S&P BSE Sensex. READ MORE

2:30 PM

Auto shares riding high on healthy demand outlook

Shares of automobiles companies were in focus with Nifty Auto and the S&P BSE Auto index gaining nearly 2% on expectations of healthy demand during the current financial year 2018-19 (FY19). READ MORE

2:15 PM

Rupee may stay near record low over trade war risk, rising oil costs: Poll

Global trade tensions and rising oil prices are expected to weaken India's rupee over the next year, a Reuters poll has found, dragging the currency closer to the record low hit last week against the dollar.

While economic growth has picked up and India has retained its spot as the fastest growing major economy this year, the rupee hit an all-time low of 69.09 per dollar last week and is the worst-performing currency in Asia this year. READ MORE

2:00 PM

Market Check

S&P BSE Sensex	35,712.09		0.39%
Nifty 50	10,796.60		0.44%
S&P BSE 200	4,639.07		0.47%
Nifty 500	9,216.10		0.54%
S&P BSE Mid-Cap	15,445.91		0.92%
S&P BSE Small-Cap	16,077.69		0.57%

1:48 PM

Fed impressed with US economy strength, may continue with rate hike

US central bankers discussed whether recession lurked around the corner and expressed concerns global trade tensions could hit an economy that by most measures looked strong, minutes of the Federal Reserve's last policy meeting on June 12-13 released on Thursday showed. READ MORE

 

1:32 PM

Samsung Q2 profit likely to grow at 5.2%; revenue may come down by 4.9%

South Korean tech giant Samsung Electronics Co Ltd estimated on Friday earnings would grow at the slowest pace in more than a year in the second quarter, as analysts said weak smartphone sales likely offset record high chip earnings. READ MORE

1:15 PM

Steel prices to remain stable; NMDC cuts ore prices for Karnataka

 

Indian primary steel producers have extended their product prices for July, despite state-owned NMDC cutting iron ore prices by Rs 300 a tonne in Karnataka (where a lot of the country’s steel is made).

 

NMDC Limited, a state-controlled mineral producer, has reduced prices by Rs 300 a tonne in Karnataka on the backdrop of increasing stocks. READ MORE

1:00 PM

Carriage, content, commerce in quiver, Mukesh Ambani ready for triple play

 

Mukesh Ambani is ready with his triple play of carriage, content and commerce.

 

The richest Indian has already signed up 215 million customers in 22 months for his 4G mobile network. By upending the telecom industry’s profitability with free voice calls and cheap data, he’s forced many of his smaller rivals, including his younger brother Anil Ambani, into backing off. That puts another 80 million or so subscribers up for grabs.

 

But it’s Ambani’s entry into fiber-optic broadband, announced at flagship Reliance Industries Ltd’s annual shareholder meeting on Thursday, that will complete his carriage plans. READ MORE

Mukesh Ambani,RIL AGM

12:45 PM

Brexit likely to impact Tata Motors-owned JLR's future investment in UK

 

Worries around the impact of Britain’s exit from the European Union and its impact on Tata Motors-owned Jaguar Land Rover Automotive, further deepened on Thursday after Ralph Speth, the company’s chief executive warned that a “hard Brexit” would cost it £1.2 billion a year, curtailing its future operations in the United Kingdom as upcoming investments get jeopardised. Speth’s statement comes a day ahead of British Premier Theresa May meeting with the cabinet to discuss Britain’s exit strategy from the European Union. READ MORE

12:30 PM

Was the EPFO ahead of the curve in its preference for passive funds?

The Employees’ Provident Fund Organisation’s (EPFO’s) dependence on low-cost passive funds is starting to look smarter with each passing day, as active fund managers struggle to meet benchmark returns. An analysis of the data from Value Research, a fund tracker, shows a majority of active funds have failed to beat their benchmarks in both the large-cap and mid-cap space. READ MORE

12:15 PM

Tougher entry into India for investors from 25 nations in 'high risk' list

 

Participation in Indian markets will get more difficult for foreign institutions based out of Mauritius – India’s second largest source of Foreign Portfolio Investor (FPI) flows. According to sources, the global custodians have recognised 25 countries including Mauritius, Cyprus and United Arab Emirates (UAE) as ‘high-risk jurisdictions’. Going forward, off-shore funds investing through these countries will have to comply with additional Know Your Customer (KYC) norms. READ MORE

12:00 PM

Market at Noon

 

S&P BSE Sensex	35,701.39		0.36%
Nifty 50	10,797.15		0.44%
S&P BSE 200	4,635.71		0.40%
Nifty 500	9,211.15		0.49%
S&P BSE Mid-Cap	15,394.95		0.58%
S&P BSE Small-Cap	16,055.70		0.43%

11:46 AM

Hathway Cable, Den Networks hit 52-week low as RIL launches JioGigaFibre

 

Shares of Den Networks and Hathway Cable & Datacom fell more than 5% for the second straight session after the Reliance Industries’s (RIL) chairman Mukesh Ambani on Thursday announced the launch of Jio’s fibre to home or fixed line broadband services called Jio GigaFiber.

 

Hathway Cable & Datacom dipped 10% to Rs 18.55, extending its previous day’s 15% fall on the BSE. Meanwhile, Den Networks has slipped 7% to Rs 62.20, after falling 11% yesterday. Both these stocks are trading at their respective 52-week lows on the BSE. READ MORE

11:30 AM

Auto stocks gain post July sales numbers

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
ASHOK LEYLAND	132.30	125.00	7.30	5.84	18260971
MOTHERSON SUMI	304.80	293.90	10.90	3.71	1482731
TATA MOTORS	270.90	261.55	9.35	3.57	9465622
TATA MOTORS-DVR	157.85	153.25	4.60	3.00	1592747
BAJAJ AUTO	3052.95	2966.95	86.00	2.90	782499

11:15 AM

Sobha gains 6% post June quarter operational update

 

Shares of real estate firm Sobha rallied 6% to Rs 507 on the BSE in early morning trade after the company said sales bookings for the first quarter of FY19 increased by 22% to Rs 7.62 billion as compared to corresponding quarter last year on higher volumes.

 

“The sales volume and total sales value are up by 18% and 22% respectively as compared to corresponding quarter of last year. The markets of Bengaluru, Gurugram and Kochi continue to perform well and are ably supported by the Coimbatore and Mysore,” Sobha said in a press release. READ MORE

11:04 AM

Graphite electrode makers' prospects look bright

 

Shares of graphite electrode producers HEG and Graphite India hit new highs on Thursday on firm outlook for that business. The uptrend in demand and realisation for graphite electrodes, which has helped these stocks gain substantially in the past year, is likely to sustain. This is keeping the Street bullish on both. READ MORE

10:48 AM

Titan misses the growth bus in Q1; analysts remain bullish on prospects

 

The Titan Company's stock shed about 5.6 per cent in trade on Thursday, after the company indicated jewellery segment sales in the June quarter (after several quarters of strong growth) would be weak and below the company’s own targets. The management said the sector had gone through a soft patch during the first five months of this calendar year, as seen in a 39 per cent decline of gold import by volume. READ MORE

10:37 AM

WEB EXCLUSIVE Chris Wood's ex-Japan portfolio dips 1.6% in Q1FY19, drops Vedanta

 

In his latest weekly note to investors GREED & fear, Christopher Wood, managing director, equity strategist at CLSA says that his ex-Japan long-only portfolio declined 1.6 per cent in the last quarter (first quarter of financial year 2018-19 i.e. Q1FY19) in US dollar terms. Yet, it was able to outperform the regional index – MSCI AC ex-Japan – that declined 5.6 per cent last quarter on a total-return basis.

 

“The portfolio also outperformed in the first half of 2018, declining by 2.4 per cent compared with the benchmark’s 4.7 per cent decline. This follows the portfolio’s 61.7 per cent rise last year on a total-return basis, which was the best annual performance since 2009,” Wood says. READ MORE

Christopher Wood, Managing Director & Equity Strategist, CLSAChristopher Wood, Managing Director & Equity Strategist, CLSA

10:24 AM

Market debut Varroc Engineering lists at 6.7% premium wrt issue price

Auto component maker Varroc Engineering made a decent debut on Friday, listing at Rs 1,032 on BSE, a 6.72% premium over its issue price of Rs 967. On NSE, the scrip got listed at Rs 1,015, up 4.96%.

 

At 10:11 am, the stock was trading at Rs 1,010, 4.5% up as comapred to issue price but 2% lower than its open price on BSE. On comparison, the S&P BSE Sensex was trading 0.3% higher. READ MORE

10:12 AM

Rupee crosses 69-mark against US dollar in early trade, sheds 8 paise

The rupee fell 8 paise to trade at 69.03 against the US dollar in early trade today on appreciation of the American currency overseas and sustained foreign capital outflows. READ MORE

10:00 AM

Market Check

S&P BSE Sensex	35,652.75		0.22%
Nifty 50	10,776.45		0.25%
S&P BSE 200	4,629.19		0.26%
Nifty 500	9,189.60		0.25%
S&P BSE Mid-Cap	15,370.49		0.42%
S&P BSE Small-Cap	16,016.98		0.19%

9:45 AM

Swadhaar buyout to support RBL Bank's retail plans, regulatory needs

 

After a strong performance in 2017-18, investors have given a thumbs-up to RBL Bank’s move to hike stake to 100 per cent from the current 60.5 per cent in Swadhaar Finserve, which offers services in underbanked areas.

 

Since the announcement on June 28, RBL’s stock has gained about five per cent, outperforming the 0.4 per cent rise in the Nifty Bank index. READ MORE

9:30 AM

F&O Strategies

 

ITC JULY FUTURES: Buy around 271-272 for a potential upside target of 284 with a stop below 264 (spot levels)

 

VEDL JULY FUTURES: Sell around 219.50-220 for a potential downside target of 205 with a stop loss placed above 230 (spot levels)

 

SHORT STRANGLE IN RELIANCE : Sell one lot of RELIANCE JUL 1020 CE @ 9-10 & Sell one lot of RELIANCE JUL 920 PE @ 7-8 | Max Profit: 16000 | Cumm Inflow: 16 | Stop Loss: 24 | Target: 2-3 (Premium)

(Source: Karvy)

9:20 AM

Nifty sectoral trend