Markets settle near day's high; Sensex up 321 points, Nifty ends at 9,897

All that happened in Wednesday's session

3:55 PM

Anand James, Chief Market Strategist, Geojit Financial Services

 

GST rate revision potential has given the much needed diversion that market needed, especially for FMCG stocks, while it also helped that global risk appetite was seen improving after North Korean impasse softened. RBI minutes will now give some insight on the panel’s thinking on inflation expectation.

3:47 PM

Sectoral trend

Source: NSE

3:42 PM

Top Sensex gainers and losers 

Source: BSE

3:40 PM

Market breadth

The market breadth, indicating the overall health of the market, was strong. 1,647 shares rose and 942 shares fell. A total of 115 shares were unchanged.

3:38 PM

Broader markets mirror key indices 

The BSE Midcap and the BSE Smallcap indices added 1% and 1.3%, respectively. 

3:36 PM

Markets extend gains for second session

The Sensex ended at 31,770, up 321 points, while the Nifty50 settled 103 points higher at 9,897. In intraday trade, the Nifty had hit its crucial 9,990 mark. 

3:30 PM

Buzzing stocks

Tobacco Stocks in focus; Godfrey Phillips Up 16% intra-Day. READ FULL REPORT HERE

3:21 PM

Asian markets end mixed

Asian markets ended mixed as tensions in the Korean peninsula went off the boil. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3% and Japan's Nikkei lost 0.1%. Hong Kong's Hang Seng index added 0.8%, while China's Shanghai Composite ended 0.1% lower. 

3:19 PM

European markets

Miners and oil stocks helped Europe's major share index make robust gains on Wednesday as higher metals prices lent a hand and investors awaited euro zone GDP figures expected to confirm the bloc's economic growth was on track. The pan-European STOXX 600 rose 0.7% its third day of gains after a sharp sell-off last week. Euro zone stocks and blue chips jumped 0.8%.

 

 

3:02 PM

Markets check

Market extend gains in noon deals. At 3:00 am, the Sensex was trading at 31,782, up 333 points, while the broader Nifty50 was at 9,897, up 100 points. 

2:45 PM

Inflation may limit further monetary easing

 

Retail and wholesale inflation accelerated in July and the uptrend is likely to continue in the coming months, limiting the space for further monetary easing, says a Morgan Stanley report. CLICK HERE FOR DETAILS

2:12 PM

Top sectoral gainer

 

Consumer stocks gained as the Nifty FMCG index rose over 3%, recovering from recent losses sparked by worries about the impact of goods and services tax (GST). Tata Global Beverages, Godrej Industries and ITC led the gains on the index. 

 

1:39 PM

Buzzing stock

Hero MotoCorp is the best performing stock among automobiles, up 10% thus far in the month of August. In comparison, the S&P BSE Sensex and S&P BSE Auto index were down 2.7% and 2.3%, respectively. CLICK HERE FOR FULL REPORT

1:19 PM

Buzzing stock

Biocon has dipped 8% to Rs 321 on BSE in intra-day trade on the back of heavy volumes on reports of withdrawal of Trastuzumab application. CLCIK HERE FOR FULL REPORT

1:01 PM

Market check

At 1:00 pm, the S&P BSE Sensex was trading at 31,589, up 140 points while the broader Nifty50 index was ruling at 9,832, up 38 points.

Broadermarkets outperformed benchmark indices with BSE Midcap and BSE smallcap up 0.8% and 0.9% respectively.

12:31 PM

Oil Check

Oil prices rose on Wednesday, lifted by declining U.S. crude inventories, although markets were still restrained by general oversupply.

 

The market focus was turning to the release of official Energy Information Administration data due later on Wednesday for a further update on inventories.

 

Brent crude futures LCOc1 were at $51.07 per barrel at 0620 GMT, up 27 cents or 0.5% from their last close.

 

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $47.75 a barrel, up 20 cents, or 0.4%.

12:03 PM

Earnings Impact

Sanghvi Movers hit a fresh 52-week low of Rs 141, down 9% on BSE, extending its past one week fall, after reporting a net loss of Rs 3.64 crore in June quarter (Q1FY17), due to lower operational income. The company had profit of Rs 25 crore in the same quarter last fiscal.

11:45 AM

Tata Global Beverages hit a record high of Rs 189, up 6% on BSE in early morning trade, after the company said  it will launch its premium natural mineral water brand 'Himalayan' in the US market.

11:24 AM

Shares of construction companies Simplex Infrastructures and Gayatri Projects have rallied up to 8% on BSE in intra-day trade after reporting a strong set of numbers in April-June quarter (Q1FY18).

 

Simplex Infrastructures has surged nearly 8% to Rs 500 after the company posted 67% year-on-year (YoY) jump in net profit at Rs 29 crore, despite single digit growth in topline. Total operational income grew 6% to Rs 1,539 crore from Rs 1,445 crore in the same quarter last year.

 

The company said the fresh order inflow during the quarter was Rs 1,406 crore against Rs 1,145 crore in an year ago quarter.

10:56 AM

JK Tyre slips after reverse turnaround in Q1

 

JK Tyre & Industries fell 3.49% to Rs 146.50 on BSE after the company reported consolidated net loss of Rs 107.73 crore in Q1 June 2017, compared with net profit of Rs 100.26 crore in Q1 June 2016.

Photo: Shutterstock

10:48 AM

Market Check

Benchmark indices gain marginally with Sensex up 52 points at 32,501 and Nifty 50 at 9,801, up 7 points

10:36 AM

Shreyas Shipping zooms 20%

Shreyas Shipping & Logistics is locked in upper circuit of 20% at Rs 364 on BSE with no sellers seen on the counter, after it reported a more than four-fold jump in net profit at Rs 20.46 crore in June quarter (Q1FY18). The company had logged profit of Rs 4.87 crore in the same quarter of last fiscal year.

 

Operational revenues during the quarter under review increased 39% to Rs 118 crore from Rs 85 crore in the corresponding quarter of previous fiscal. Earnings before interest, taxation, depreciation and amortisation (EBITDA) margin improved to 24% in Q1FY18 from 14% in year ago quarter.

Click here for full report

10:18 AM

Earnings Impact

Prestige Estates projects jumped 4.35% to Rs 270 on BSE after consolidated net profit spurted 96.4% to Rs 93.90 crore on 35.4% increase in net sales to Rs 1279.60 crore in Q1 June 2017 (Y-o-Y)

 

The stock had underperformed the market over the past one month till 14 Aug 2017, declining 2.62% compared with the Sensex's 1.79% fall. 

10:03 AM

Corporate earnings hit fresh roadblocks in Q1

 

The combined net profit (adjusted for exceptional gains or losses) of 1,261 companies — excluding those in the oil and gas, and banking sectors — was up just 0.3% year-on-year (y-o-y) during the April-June 2017 quarter, only a notch better than the 1% decline during the March 2017 quarter.

Click here for full report

9:35 AM

SAIL gained 1% after the state-run company said that it is planning to set an operating profit target for the next two to three years and has vowed to work towards optimising manpower utilisation, exploring ways to increase net sales realisation and reduce procurement costs, and improving branding and distribution efforts. 

9:30 AM

Earnings Impact

Coal India fell 1.34 % after it posted a 23% decline in consolidated profit at Rs 2,351.2 crore for the quarter ended June 30, 2017, due to higher expenses. The company had posted a consolidated profit of Rs 3,065.2 crore in the year-ago period. 

9:29 AM

Nifty FMCG was the top sectoral gainer, up 1% led by gains in Tata Global Beverages, Jubilant Foodwords, Godrej Industries, Britannia among others

9:27 AM

Banking index was the only sectoral index trading in red. Nifty Bank was down 0.1% with Nifty PSU Bank and Nifty Pvt Bank index fallinh 0.1% and 0.2% respectively.

Source: NSE

9:24 AM

Top gainers and losers on BSE Sensex

Source: BSE

9:20 AM

Broader Markets

Broader markets outperformed the benchmark indices with BSE Midcap and BSE Smallcap up 0.7% and 0.6% respectively