Markets end at fresh closing highs amid earnings optimism; Airtel, RIL gain

Catch all that happened in the market here

4:03 PM

Anand James, Chief Market Strategist, Geojit Financial Services said: Market inched closer to the 10k level as the banking stocks registered a strong comeback today. Investors may expect buoyancy in the market to continue in the F&O expiry week, on the backdrop of short covering, especially in the banking sector. Monsoon updates, liveliness in rupee and the hopes on monsoon session of Parliament will drive the indices in the coming sessions.

3:43 PM

Nifty PSU Bank index

Source: NSE

3:42 PM

HDFC Bank gained 2% after the lender reported 20.22% rise in net profit to Rs 3,893.84 crore for the quarter ended on June 30, 2017, compared to the same period last year.

3:38 PM

Nifty50 index less than 50 points away from hitting the crucial 10,000-mark

3:37 PM

All except metals and pharma sectoral indices ended the day in green. Nifty PSU Bank was the top gainer, up 1.5% followed by Nifty IT (up 1%), Nifty FMCG (up 0.9%) and Nifty Bank (0.7%)

3:36 PM

Bharti Airtel, Reliance Industries, HDFC Bank, Wipro and TCS gained the most on BSE Sensex while Dr Reddy's, Axis Bank, Tata Steel and Sun Pharma lost the most on the index.

3:35 PM

Benchmark indices settled the day at record closing highs as investors stay optimistic on Q1 earnings results, despite weakness in global markets.

 

The S&P BSE Sensex ended the day at a new milestone of 32,245, up 216 points, surpassing previous closing high of 32,074, hit on July 17. The broader Nifty50 index also settled the day at fresh closing high of 9,966, up 55 points, racing ahead of its previous high of 9,915, hit on July 17.

3:07 PM

At 3:05 pm, the S&P BSE Sensex was trading at 32,229, up 200 points while the broader Nifty50 index was at 9,962, up 47 points.

In broader markets, both BS Midcap and BSE Smallcap indices underperformed the frontline indices, up 0.3% each.

3:05 PM

Shares of public sector banks (PSBs) were in focus with the Nifty PSU Bank gaining over 2% on the National Stock Exchange (NSE).

 

Jammu & Kashmir Bank, Allahabad Bank, Bank of India, Andhra Bank and IDBI Bank were up more than 3%, while State Bank of India (SBI), Oriental Bank of Commerce, Punjab National Bank, Union Bank of India and Bank of Baroda were up 1%-3% on NSE. Click here for full report

2:20 PM

Top gainers and losers on BSE Sensex

Source: BSE

2:01 PM

Markets Check

At 2:00 pm, the Sensex was trading at 32,251, up 223 points, while the broader Nifty50 was ruling at 9,970, up 55 points.  

1:41 PM

In the broader market, the BSE Midcap and the BSE Smallcap indices added 0.3% and 0.6%, respectively.

1:24 PM

Amtek Auto hit its upper circuit of nearly 5% at Rs 31 after the troubled auto component firm said its arm Amtek Global Technologies would sell its UK-based subsidiaries' plants to the Liberty group. CLICK HERE FOR THE FULL REPORT 

1:07 PM

Markets check

 

At 1:00 pm, the Sensex was trading at 32,226, up 197, while the Nifty50 was ruling at 9,962, up 47 points. 

12:46 PM

HDFC Bank at day's high post Q1 results, gains 2%  

12:31 PM

Q1 earnings 

HDFC Bank set aside Rs 1,559 crore in provisions, compared with Rs 1,261.80 crore reported in the March quarter. The private sector lender's net interest income (NII) came in at Rs 9,370 crore, up 15% year-on-year. 

12:24 PM

Q1 earnings

HDFC Bank was trading flat at Rs 1,698 after the company reported 20.22% rise in net profit at Rs 38,94 crore for the June quarter against Rs 32,39 crore reported in the same quarter of previous year. 

11:43 AM

ITC rebounded to add over 2% to Rs 295 on the BSE after the company hiked the prices of select cigarette brands following the GST Council's move to hike the cess on cigarette firms.

11:28 AM

Gold prices touched their highest in four weeks on Monday, supported by political uncertainty in the United States that pushed the dollar to its lowest in over a year. Spot gold was nearly flat at $1,254.31 per ounce. It earlier hit a 4-week high of $1,257.18 an ounce, having risen 2.1% last week. US gold futures for August delivery were also nearly unchanged at $1,254.70 per ounce.

11:16 AM

Dollar index struggles near a 13-month low 

The dollar struggled near a 13-month low against a basket of major currencies ahead of the Fed policy meeting later in the week as US political woes dampened hopes for quick passage of president Donald Trump's stimulus and tax reform agendas. After touching 93.823, its lowest level since June 2016 early on Monday, it edged up to 93.908, marginally above Friday's close.

11:01 AM

At 11:00 am, the Sensex was trading at 32,218, up 189 points, while the Nifty50 was ruling at 9,967, up 51 points. 

10:57 AM

RIL hits fresh 52-week high; top gainer on Sensex, Nifty

10:40 AM

Markets extend gains

Nifty nears its key psychological 10,000 mark, while Sensex trades above 32,200 

10:22 AM

Overseas investors have pumped in $2.4 billion in the capital markets this month, enthused by trouble-free roll-out of GST and on hopes of better corporate earnings, taking the total to $25 billion so far this year. CLICK HERE FOR DETAILS

10:12 AM

The International Monetary Fund (IMF) has retained India's economic growth projections at 7.2 per cent in 2017-18, up slightly from 7.1 per cent in the previous year. However, the growth would accelerate to 7.7 per cent in 2018-19, IMF said while also maintaining the growth rate level projected in April. CLICK HERE FOR FULL REPORT

10:05 AM

Markets at new highs

In intraday trade, the Sensex gained as much as 156 points to touch its fresh high of 32,185 level, while the Nifty added 37 points to hit its new high of 9,953 mark.

10:01 AM

Lupin bucked weakness in the Nifty Pharma index to gain nearly 3% to Rs 1,175 on the NSE after the company announced the successful completion of an inspection carried out by the US regulator at its Goa manufacturing facility.   

9:51 AM

Divi's Labs shed over 4% after the drug firm reported 41.50% dip in standalone net profit at Rs 176.54 crore for the first quarter ended June 30, impacted by USFDA alert for a unit at its Visakhapatnam facility. The company had posted a net profit of Rs 301.81 crore for the corresponding period of previous fiscal.

9:50 AM

ITC hikes cigarette prices effective July 18: TV reports 

9:39 AM

Sensex touches fresh high of 32,140, surpassing previous high of 32,131 hit on July 17.