Nifty ends above 10k for first time ever, Sensex closes at record high too

Catch all that happened in the market today here

3:59 PM

Analyst view

 

Vinod Nair of Geojit Financial Services says: Better Q1 results and short covering ahead of F&O expiry took the market to new heights by gaining investors confidence. Rising commodity prices & expectations of revival in demand for metals kept the counter busy. On the global front, rising consensus expectation for status quo on US key interest rate is providing support to the market but investors are keen on FEDs statement to get cues on timing of balance sheet trimming.

3:54 PM

Market breadth remained neutral with 1360 advances as against 1326 declines

3:47 PM

Nifty Metal index was the top sectoral gainer, up 1.7% led by gains in Jindal Steel and Power (up 8%), Tata Steel (up 2.3%), Vedanta (up 2.2%), NMDC (up 2.1%) and JSW Steel (up 1.8%)

3:46 PM

COMMENT: Kunj Bansal - Executive Director & CIO – Equity , Centrum Wealth Management 

 

Now that the psychological number is achieved, the markets sustaining at these levels would create a solid base the next leg higher. There are many moving parts specially in the near term as it is an action packed week, with all eyes on the global Central bank commentary and the expiry coming up which would be the first test. 

 

If one looks at the bigger picture, results season has not given too many positive surprises, so the markets should consolidate around this number. The risks are ever present but manifest in different ways, one will only know the reason for things turning with the benefit of hindsight. Hence, while it’s the index at five figure number, it is a virtuous cycle which follows in terms of new investors getting carried away and getting exuberant, this is the only thing one should watch for

3:44 PM

Yes Bank ended the day over 6% higher after the private lender announced Q1 PAT at Rs 960 cr, in line with Street expectations. The company board also approved stock split in ratio of 5-for-1.

3:40 PM

Emkay Global maintains a HOLD rating on HDFC post Q1 numbers with a target price of Rs 1,528

3:40 PM

In broader markets, BSE Midcap and BSE Smallcap indices ended 0.2% and 0.3% higher respectively

3:39 PM

The S&P BSE Sensex ended at fresh closing high of 32,382, up 154 points. The broader Nifty50 index, too settled at new closing high of 10,020, up 56 points.

3:37 PM

Top gainers and losers on BSE Sensex

Source: BSE

3:36 PM

FPIs invest over $25 billion in Indian markets in CY17 READ ABOUT IT HERE

3:34 PM

COMMENT: Motilal Oswal, CMD, Motilal Oswal Financial Services

 

From a short-term perspective, markets appear to be overheated and trading rich. A correction cannot be ruled out at this juncture. That said, this correction will not be very deep as a huge pool of cash is waiting to be deployed in the markets at lower levels. From a long-term perspective, this correction will be more like a running one and the markets will take it in stride to resume its upward journey, targeting new highs eventually

3:34 PM

All sectoral indices except IT and PSU Banks settled the day in green. Nifty Bank and Nifty Smallcap index also ended at fresh highs.

3:33 PM

Markets end higher with Nifty closing above 10,000-mark for teh first time ever. Sensex also ended at new record high led by gains in metals and pharma stocks.

3:12 PM

Nifty Bank up 166 points at 24,687.15, trades at day's high

3:10 PM

Nifty gained as much as 59 points to hit fresh high of 10,023, surpassing previous high of 10,011, hit yesterday. Senses also hit a new high of 32,413, rising as much as 185 points

2:47 PM

Top gainers and losers on BSE Sensex

Source: BSE

2:35 PM

Mixed Q1 for HDFC

HDFC trades flat after the company announced 16% fall in net profit to Rs 1,556 crore vs 1,870 crore in the same quarter last year. 

2:20 PM

Earnings

YES Bank gained 4% after it announced Q1 PAT at Rs 960 cr, in line with Street expectations. The company board also approved stock split in ratio of 5-for-1.

The private lender reported the net NPA at 0.39% vs 0.81% (QoQ)

A security guard stands outside a closed Yes Bank branch in New Delhi (Photo: Reuters)

2:04 PM

Market Check: At 2:03 pm, the Nifty was trading at 10,003 up 38 points, while the Sensex was ruling at 32,364, up 135 points. 

In broader markets, BSE Midcap and BSE Smallcap indices gained 0.2% and 0.4% respectively.

1:53 PM

Vedanta rose nearly 3% to their highest since Sept. 25 2014, after better margins from zinc operations helped double the company's June-quarter consolidated profit.

1:32 PM

Axis Bank fell over 3% and was among the top percentage losers on both the frontline indices after the private lender posted a 16% fall in June quarter profit. Analysts say concerns over the banks' unrecognised stress in power and others sectors linger.

1:26 PM

The Nifty has hit a string of record highs this year and is Asia's third best-performing index this year with a 22% gain

Nifty crosses 10,000 mark in early trade at NSE in Mumbai on Tuesday 25th July 2017 Photo: Kamlesh Pednekar

1:16 PM

European Markets: Supportive crude prices and strong results from energy firms Subsea 7 and Tullow Oil helped European shares inch higher on Wednesday, while banks weighed on index-level gains as investors awaited a Fed policy decision and UK GDP figures.

 

The pan-European STOXX 600 gained 0.3%, in line with euro zone stocks and blue-chips, as oil and gas stocks gained 0.8%.

1:14 PM

Currency Check: The dollar bobbed above a 13-month low against a basket of major currencies on Wednesday, as investors awaited the US Federal Reserve's policy statement for clues on the course of its next monetary tightening.

1:04 PM

Shares of gems & jewellery companies  moved higher by up to 20% on BSE after Thangamayil Jewellery posted a strong set of numbers for the quarter ended June, 2017 (Q1FY18).

 

Besides Thangamayil Jewellery, Tribhovandas Bhimji Zaveri (TBZ), Gitanjali Gems, Tara Jewels, Rajesh Exports and Renaissance Jewellery were also up between 2% and 7% on BSE

A salesperson attends to a customer (not pictured) inside a jewellery showroom, during Akshaya Tritiya, a major gold-buying festival, in Mumbai

12:52 PM

US Federal Reserve is expected to keep interest rates unchanged in its policy meeting later in the day. The Fed could possibly hint that it will start winding down its massive holdings of bonds as soon as September in what would be a vote of confidence in the US economy. CLCIK HERE FOR FULL STORY

12:48 PM

Foreign portfolio investors (FPIs) have pumped in over $25.4 billion into the Indian equity and debt market segments thus far in calendar year 2017 (CY17), data with the National Securities Depository Limited (NSDL) show. CLICK HERE FOR FULL REPORT

12:04 PM

Market at day's high

 

The Nifty50 reclaimed its crucial 10,000 mark in the noon deals. At 12:01 pm, the Nifty was trading at 9,999, up 35 points, while the Sensex was ruling at 32.324, up 96 points. 

11:38 AM

Metals stocks are in focus. Nifty Metal index hit 34-month high, and was the leading sectoral gainer. Hindalco, Vedanta were trading above their respective 52-week highs. CLICK HERE FOR THE REPORT 

11:02 AM

Markets check

At 11:00 am, the Sensex was trading at 32,317, up 89 points, while the broader Nifty50 was trading at 9,992, up 28 points.