You are here: Home » Markets » News
Business Standard

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

Among sectoral indices, the Nifty Metal index settled 3% higher led by a sharp rise in the shares of Hindalco Industries and Jindal Steel & Power.

SI Reporter  |  New Delhi 

The benchmark indices ended at their record highs on Tuesday. The S&P BSE Sensex ended at 36,825, up 106 points. The index hit its intra-day high of 36,902.06 today. The broader Nifty50 index settled at 11,134, up 50 points. It had hit a fresh near six-month high of 11,143.40 in intra-day deals. CLICK HERE TO SEE WHICH STOCKS CONTRIBUTED TO SENSEX'S GAIN TODAY Among sectoral indices, the Nifty Metal index moved up 3%, led by a sharp rise in Hindalco Industries and Jindal Steel & Power. The Nifty Realty index ended 2.5% higher, led by Unitech and ...

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

MARKET COMMENT Mustafa Nadeem, CEO, Epic Research Market hits a new all-time high with S&P Sensex hitting 36902, just a tad below 37K mark while on the other side Nifty has been shy of testing its all-time high of 11171. Though, Nifty has given a definite breakout after consolidating in a flag pattern for a week. Further, We have seen a positive close above the resistance line of the flag which has turned bulls aggressively bullish. A flag is a continuation pattern which indicates the continuation of the preceding trend in the market. While its Pole being the previous rally we have observed from 10600 odd levels which come to be 500 odd points while the breakout has happened above at 11050, the point of inflection for the pattern. Nifty has successfully closed above this point for the second consecutive day which indicates the control of directional bulls. With that, 11450 is the conservative target for this pattern in short-term

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

Nifty Metal index ends 2.99% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) HINDALCO INDS. 207.60 196.15 11.45 5.84 WELSPUN CORP 115.05 109.75 5.30 4.83 JINDAL STEEL 195.90 187.45 8.45 4.51 JINDAL STAIN .HI 130.25 124.70 5.55 4.45 NATL. ALUMINIUM 61.05 58.55 2.50 4.27

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

Nifty sectoral gainers of the day

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

BSE Sensex: L&T, Asian Paints, Vedanta among top gainers of the day

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

Market at close   The S&P BSE Sensex ended at 36,825, up 106 points while the broader Nifty50 index settled at 11,134, up 50 points.

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

IDBI Capital on L&T Infotech We factor Q1FY19 beat and increase FX rate to Rs68 vs. Rs65.5 earlier for rest of FY19E and FY20E. We increase FY19/20E revenue by 2.6%/3.2% and EPS by 6.3%/5.7%. We now forecast FY18-20E revenue (US$)/EPS CAGR of 16.9%/18.3%. We also raise our target price to Rs1,809 based on 20x FY20E and maintain HOLD

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

SBI Ecowrap: RBI to maintain status quo on August 01 We believe August rate decision is a close call, though we believe status quo rather than a hike looks the best option. The only reason for a rate hike by RBI at this juncture might be to satiate the self fulfilling prophecy of market expectations of a rate hike to stem the rupee depreciation (though rupee depreciated by 3% post June).   In our view, inflation risks are still evenly balanced. While the MSP hike could statistically push up CPI by 73 basis points, such inflation is unlikely to materialize as it is purely subject to procurement by the Central Government/State Government. In fact, without effective procurement, historical trends suggest that market prices have often fallen below MSP due to demand supply dynamics

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

Exporters fear India may lose $5.5 bn in gold medallion, coin exports India is set to lose around $5.5 billion worth of gold medallion and coin exports due to the government's decision to ban shipment of gold beyond 22 carat of purity. Since gold medallions and coins contain 24 carats of gold, their export has been banned, albeit unintentionally. READ MORE

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

GlaxoSmithKline Pharmaceuticals zooms 17% on 1:1 bonus Shares of GlaxoSmithKline Pharmaceuticals have zoomed 17% to Rs 3,249 per share, also their 52-week high on the BSE, after the company's board recommended a bonus issue in the ratio of 1:1. READ MORE

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

Rail related stocks in focus; Titagarh Wagons, Texmaco Rail surge 20% Shares of railway related stocks such as Titagarh Wagons, Texmaco Rail & Engineering, Cimmco, Hind Rectifiers and Commercial Engineering & Body Builders Company have rallied up to 20% on the BSE.   According to a PTI report, the railway is looking at 4,000 km of track renewal in each of the next two financial years --2018-19 and 2019-20. Its estimated cost for 2018-19 is a little above Rs 100 billion. READ MORE

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

MARKET CHECK INDEX LATEST PREVIOUS CHANGE CHANGE(%) BSE SENSEX 36863.29 36718.60 144.69 0.39 BSE 500 14994.78 14855.22 139.56 0.94 BSE MID-CAP 15615.89 15392.58 223.31 1.45 BSE SMALL-CAP 16185.83 15867.21 318.62 2.01 S&P BSE LARGECAP 4317.47 4286.44 31.03 0.72 > More on BSE Indices

First Published: Tue, July 24 2018. 08:15 IST
RECOMMENDED FOR YOU

MARKET WRAP: Indices settle at record high led by L&T, Infosys, HDFC

Among sectoral indices, the Nifty Metal index settled 3% higher led by a sharp rise in the shares of Hindalco Industries and Jindal Steel & Power.

The benchmark indices ended at their record highs on Tuesday. The S&P BSE Sensex ended at 36,825, up 106 points. The index hit its intra-day high of 36,902.06 today. The broader Nifty50 index settled at 11,134, up 50 points. It had hit a fresh near six-month high of 11,143.40 in intra-day deals. CLICK HERE TO SEE WHICH STOCKS CONTRIBUTED TO SENSEX'S GAIN TODAY Among sectoral indices, the Nifty Metal index moved up 3%, led by a sharp rise in Hindalco Industries and Jindal Steel & Power. The Nifty Realty index ended 2.5% higher, led by Unitech and ...

image
Business Standard
177 22