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MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Sensex ended at record closing high on Thursday, driven by gains in financial and energy stocks

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Bse  |  Sensex  |  Nse

SI Reporter  |  New Delhi 

Sensex ended at record closing high on Thursday, driven by gains in financial and energy stocks as optimism around corporate earnings and stronger Asian shares boosted sentiment. The broader Nifty50 index also ended above its crucial 11,000-mark. The S&P BSE Sensex ended at record closing high of 36,548, up 282 points, surpassing previous closing high of 36,283 on January 29, 2018 while the broader Nifty50 index settled at 11,023, up 75 points. In intra-day, the S&P BSE Sensex hit a record high of 36,699.53 levels surpassing its previous high of 36,444 recorded on January ...

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MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

MARKET COMMENT by Gautam Duggad, Head of Research, Motilal Oswal Institutional Equities   Sensex crossed all-time high on the back of global cues as well as solid start to earnings season with TCS beating expectations. The divergence between large-caps and mid-caps has widened in 2018 with mid-cap and small-cap indices still down 15-20% from the top. Even within Nifty - select high quality stocks with earnings visibility are driving the index with TCS, HDFC Bank, HUL, Reliance being the key outperformers in YTD CY18.   We expect the markets to remain in a tight range albeit with higher volatility in 2018 given the busy political calendar ahead. Our relative preference stays with large caps as midcaps are still trading at premium to largecaps.  

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

RIL settled 4.05% higher at Rs 1,080.90 on the NSE

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Nifty PSU Bank index settles 1.12% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) BANK OF BARODA 118.80 116.20 2.60 2.24 ST BK OF INDIA 262.05 259.10 2.95 1.14 PUNJAB NATL.BANK 75.85 75.55 0.30 0.40

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Nifty sectoral performers of the day

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

BSE Sensex: RIL is top gainer of the day, ending 4.33% higher

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Market at close   The S&P BSE Sensex ended at record closing high of 36,548, up 282 points, surpassing previous closing high of 36,283 on January 29, 2018 while the broader Nifty50 index settled at 11,023, up 75 points.

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Tata Power, Vedanta, UPL hit 52-week lows Shares of Tata Power Company, Vedanta and UPL have hit their respective 52-week lows, falling in the range of 2% to 3% on the BSE in otherwise firm market. READ MORE

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Sector watch: Prabhudas Lilladher on road construction stocks Road sector stocks have corrected by ~15-20% over last 3 months in spite of all time high order inflow and order book in FY18, our interaction with investor suggest one of apprehension is risk to execution due to reluctance on part of banking sector to lend to road sector (O/s credit to sector coming down YoY since last several months).   While political uncertainty might continue to weigh on sector in near term, concerns on execution are over done in our view.  We continue to like players with a strong track record of execution and large balance sheet to support/fund large projects wins. We continue to maintain "BUY" on Sadbhav Engineering and Ashoka Buildcon with price target of Rs 417 and Rs 287, respectively

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Sector-wise FDI flow (Image source: CARE Ratings report)

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Trends in FDI (Image source: CARE Ratings report)

MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Ircon stake sale on course; govt plans to raise around Rs 6 billion   After the massive response from investors for the initial public offering (IPO) of RITES, the government is set to divest around 10.5 per cent stake in another Railways subsidiary, Ircon International, in September.   The government is targeting to raise around Rs 6 billion through the listing of Ircon. On the other hand, the divestment of the government's stake in the other two Railways subsidiaries -- Rail Vikas Nigam Limited (RVNL) and Indian Railway Finance Corporation (IRFC) -- might happen during the October to December quarter of the current financial year. READ MORE

First Published: Thu, July 12 2018. 08:15 IST
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MARKET WRAP: Sensex ends at record closing high, up 282 pts; RIL up 4%

Sensex ended at record closing high on Thursday, driven by gains in financial and energy stocks

Sensex ended at record closing high on Thursday, driven by gains in financial and energy stocks as optimism around corporate earnings and stronger Asian shares boosted sentiment. The broader Nifty50 index also ended above its crucial 11,000-mark. The S&P BSE Sensex ended at record closing high of 36,548, up 282 points, surpassing previous closing high of 36,283 on January 29, 2018 while the broader Nifty50 index settled at 11,023, up 75 points. In intra-day, the S&P BSE Sensex hit a record high of 36,699.53 levels surpassing its previous high of 36,444 recorded on January ...

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