Sensex gains 348 pts, Nifty ends at 10,096; RIL up 4% ahead of Q2 earnings

All that happened in Thursday's trade

4:02 PM

Anand James, Chief Market Strategist, Geojit Financial Services

 

Market edged higher, ahead of IIP and inflation data to be released later today, while GST rate reduction positivity lent some support, and metal and realty stocks saw momentum. An improved forecast for industrial production may be an indication that the GST-related woes have started to subside, but the investors will be focusing largely on stock-specific moves on account of corporate earnings season.

3:51 PM

Sectoral trend

Source: NSE

3:47 PM

Sensex heatmap at close

Source: BSE

3:45 PM

Market breadth

The broad market depicted strength. There were two gainers against every loser on BSE. 1,696 shares rose and 971 shares fell. A total of 131 shares were unchanged.

3:43 PM

Broader markets

Broader markets mirrored tha gains in the frontline indices with the BSE Midcap and the BSE Smallcap indices gaining 1% each. 

3:42 PM

Markets at close 

The S&P BSE Sensex ended at 32,182, up 348 points, while the broader Nifty50 settled at 10,096, up 111 points.

3:25 PM

RIL hits record high

Shares of Reliance Industries rallied over 4% to hit its record high of 875 ahead of its September quarter earnings due tomorrow. READ MORE 

WHAT BROKERAGES EXPECT FROM RIL Q2 NUMBERS

3:19 PM

Buzzing stock

 

Man Industries was locked in upper circuit of 20% at Rs 110, also its 52-week high on the BSE, after the company received order worth Rs 925 crore from GAIL (India). READ MORE

3:11 PM

Adani Transmission rallies for 12th straight day

 

Adani Transmission is locked in upper circuit of 5% at Rs 213, extending its 15% gain of the last two trading sessions on the BSE, after the company said Reliance Infrastructure (RInfra) entered into exclusive talks with the company for selling its Mumbai power business. READ FULL REPORT

3:03 PM

European markets

European markets were trading sideways even as Asian markets traded near decade-high and Wall Street logged fresh highs overnight. 

 

The pan-European STOXX 600 index was up 0.01 percent in early deals with no clear direction across the continent. France’s CAC 40 and Spain’s IBEX were down 0.1 percent while Frankfurt’s DAX and the FTSE 100 were very slightly up.

2:54 PM

Top 5 stocks that are pulling Nifty higher 

Source: NSE

2:51 PM

Markets at day's high: Sensex above 32,000, Nifty regains 10,050

 

At 2:50 pm, the S&P BSE Sensex was trading at 32,098, up 264 points, while the broader Nifty50 was ruling at 10,066, up 82 points.

2:18 PM

Can RJio dent RIL's Q2 performance? Here's what analysts say

 

Reliance Industries, India's most valuable company by market capitalisation (market-cap), is scheduled to report its September quarter earnings post market hours on Friday. Though the Mukesh Ambani - controlled company is likely to report a healthy growth in profit after tax (PAT) on a standalone basis for 11th quarter in a row thanks to record growth in refining and petrochemical businesses, its telecom unit Reliance Jio could impact consolidated results, analysts say. READ BROKERAGE VIEWS

2:00 PM

Reliance Nippon sets price band for IPO

 

Reliance Nippon Life Asset Management on Thursday fixed a price band of Rs 247-252 per equity share for its initial public offering, through which it expects to raise Rs 1,542 crore. READ MORE DETAILS 

1:26 PM

Sensex heatmap in noon deals 

Source: BSE

1:02 PM

Buzzing stock

Hindalco Industries, Britannia Industries, NBCC (India), TVS Motor Company, Avenue Supermarts (D-Mart) and Dabur India are among 17 stocks from the S&P BSE500 index hit their respective fresh record highs on the BSE on Thursday. READ MORE

12:31 PM

What brokerages expect from TCS Q2 earnings

 

Analysts expect TCS to report positive cross currency impact of 80-130 basis points and an improvement in margin on account of lack of wage hikes and visa cost for the quarter. READ BROKERAGE VIEWS HERE

12:23 PM

Markets not expensive, earnings should improve, say top fund managers
 

The Indian equities are favourably valued on parameters such as market capitalisation-to-GDP and price-to-book value, say the country’s top fund managers.  This is in contrast to the popular perception that Indian markets are expensive as it trades at a price-to-earnings valuation way above its long-term averages. CLICK HERE FOR THE FULL STORY

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12:11 PM

Nifty PSU Bank index hits 9-month low

 

Shares of public sector banks (PSBs) are trading lower for the second straight day, with the Nifty PSU Bank index hitting nine-month low on the National Stock Exchange (NSE). The index hit an intra-day low of 3,002, its lowest level since January 11, 2017, and has slipped 18.5% from its recent closing high of 3,723 on July 31, 2017. READ FULL REPORT

12:00 PM

Bharti Infratel hits 52-week high

 

Bharti Infratel hit a 52-week high of Rs 434, up 6%, extending its Wednesday’s 3% gain on the National Stock Exchange (NSE), after media report suggests that private equity firm KKR-led consortium in talks to buy Indus Towers and Bharti Infratel. READ MORE

11:40 AM

Buzzing stock

 

Zen Technologies, Hyderabad-based computer hardware maker, rallied 11% in intraday trade to Rs 69 after it won biggest export order worth Rs 64 crore. The contract is for live and virtual combat training systems and is expected to be executed in the first half of financial year 2018-19.

11:21 AM

Markets not expensive?

 

The Indian equities are favourably valued on parameters such as market capitalisation-to-GDP and price-to-book value, say the country’s top fund managers.  This is in contrast to the popular perception that Indian markets are expensive as it trades at a price-to-earnings valuation way above its long-term averages. READ FULL REPORT

11:04 AM

Markets check

At 11:00 am, the S&P BSE Sensex was trading at 31,945, up 111 points, while the broader Nifty50 was ruling at 10,025, up 40 points.

10:44 AM

Nifty PSU Bank sole sectoral loser

Source: NSE

10:35 AM

Sector watch: Nifty PSU Bank index

Index	Chng	% Chng
NIFTY PSU BANK	-9.8	-0.32
IDBI	0.35	0.68
SYNDIBANK	0.05	0.08
INDIANB	0.15	0.06
PNB	0.05	0.04
ANDHRABANK	-0.05	-0.09
SBIN	-0.5	-0.2
ALBK	-0.15	-0.23
UNIONBANK	-0.8	-0.64
BANKBARODA	-1.25	-0.9
CANBK	-3.25	-1.06
BANKINDIA	-1.9	-1.41
ORIENTBANK	-2.35	-2.04

Source: NSE

10:31 AM

Oil & gas, infra firms to be hit by PE norms

 

Oil and gas, power and other infra sector companies will be the most impacted by the change in norms of permanent establishment (PE), post-India’s recent signing of the multilateral instrument (MLI) as part of measures to prevent base erosion and profit shifting.  Article 14 of the MLI provides for the criteria to determine whether time thresholds in a tax treaty for construction, installation, supervisory have exceeded the time after which a particular project or an activity will be treated as permanent establishment (PE). READ FULL REPORT 

10:29 AM

Market snapshot

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	31,945.34	+111.35	+0.35
S&P BSE SENSEX 50	10,411.86	+38.65	+0.37
S&P BSE SENSEX Next 50	34,366.01	+178.45	+0.52
S&P BSE 100	10,430.51	+41.27	+0.40
S&P BSE MidCap	15,868.13	+63.54	+0.40

(Source: BSE)

10:07 AM

Tech view

 

In line with expectations Nifty bounced till 10070 after breakout above 10020 levels, but failed to sustain & finally gave up gains & closed near 9980 levels. It attempted to enter back into the wedge, but failed & slipped back lower. On sustaining below 9980 further weakness towards 9920-9900 can be seen. Failure to break & sustain below 9980, can see it remain sideways between 9980 & 10020 levels.

 

 

(Source: Systematix Research)

10:05 AM

Result preview: RIL

 

2Q will likely be the 11th consecutive quarter of stand-alone q-q profit growth. We expect refining premium to the SG complex to moderate (USD4/bbl vs USD5.5/bbl in 1Q); still, both refining and petchem should report record EBITs. But the focus will be on R-Jio’s first reported quarterly numbers. Though it is difficult to forecast, we think Jio could report positive EBITDA in its first quarter itself.

 

 

(Source: Nomura report)

9:55 AM

Expert view: Bumps ahead for bull run

 

The Monetary Policy Committee's (MPC's) decision to leave policy rates unchanged was expected. The Reserve Bank of India (RBI) cut its median projections for gross value added growth for 2017-18 to 6.7 per cent from 7.3 per cent. It expects inflation to range between 4.2 and 4.6 per cent in the second half of the fiscal. Upside risks to inflation include farm loan waivers and possible pay hikes to state government employees. The central bank is a little apprehensive that inflation might overshoot. What's more, there's worry about currency turmoil READ MORE HERE