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MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Benchmark indices rose on Monday with heavyweights ASian Paints and Reliance Industries driving the indices highe

SI Reporter  |  New Delhi 

Benchmark indices ended higher on Monday with Nifty50 index settling above its crucial  10,850 levels, tracking gains in Asian peers after favourable US jobs data boosted risk appetite, with heavyweights Asian Paints and Reliance Industries (RIL) driving the indices higher. The S&P BSE Sensex ended at 35,935, up 277 points while the broader Nifty50 index settled at 10,853, up 80 points. Among sectoral indices Nifty Bank, Nifty PSU Banks and Nifty Pvt Bank indices ended 1% higher each with Federal Bank, YES Bank, RBL Bank and Axis Bank as top gainers in the pack. Nifty ...

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MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Nifty PSU Bank index ends 1.55 per cent higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) SYNDICATE BANK 42.05 40.65 1.40 3.44 BANK OF INDIA 89.30 86.65 2.65 3.06 INDIAN BANK 348.50 342.55 5.95 1.74 ST BK OF INDIA 261.30 257.20 4.10 1.59 BANK OF BARODA 117.05 115.55 1.50 1.30 See More

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Nifty sectoral performers of the day

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

BSE Sensex: Yes Bank, Asian Paints, Reliance Industries among top gainers of the day

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Market at close   The S&P BSE Sensex ended at 35,935, up 277 points while the broader Nifty50 index settled at 10,853, up 80 points.

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Auto, IT, consumption stocks lead in Sensex 1,063-point rally since June 5   Shares of automobiles, information technology (IT), private banks and consumption related companies have led to an over 1,000 points rally in the S&P BSE Sensex since June 5.   Maruti Suzuki India and Bajaj Auto from automobiles, Tata Consultancy Services (TCS) and Infosys from IT, YES Bank and Kotak Mahindra Bank and Hindustan Unilever (HUL) and Asian Paints from consumption sector have outperformed the Sensex by gaining 6% to 9% during this period. READ MORE

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

COMMENT Q1FY19 Result expectations from Crisil Research Growth in corporate revenue – excluding banking, financial services, insurance, and oil companies – is expected to print at a 12-quarter high of 12.8% on-year for the first quarter of fiscal 2019, CRISIL Research’s analysis of ~350 companies, which account for 50% of the market capitalisation (excluding banking, financial services, insurance, and oil companies) of the National Stock Exchange, indicates. It would be the third consecutive quarter of double-digit growth. While the earlier two quarters had benefited from low-base effect following demonetisation in the corresponding year-ago period, this quarter will reaffirm a sustained pickup in demand in most consumption-linked sectors.  

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Cyrus Mistry to appeal NCLT order dismissing his plea against Tata Sons   Ousted Tata Sons chairman Cyrus Mistry on Monday said he would appeal against the order of the National Company Law Tribunal (NCLT) that dismissed pleas challenging his removal.   A statement from Mistry's office described the NCLT, Mumbai, ruling as "disappointing although not surprising".   "We will continue to strive for ensuring good governance and protection of interests of minority shareholders and all stakeholders in Tata Sons from the wilful brute rule of the majority," the statement said. READ MORE

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

New rules, trade war push some China funds to struggle for survival   It's already been a harsh year for Chinese funds, hit by new rules aimed at reining in debt in the country's financial system. Now, the sell-off in China stocks induced by trade war anxiety further threatens their health and for some, their survival.   Case in point: private fund house Nanjing Hu Yang Investment Co has seen its assets under management halve to 50 million yuan ($7.5 million) over the past year on redemptions and investment losses. READ MORE

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Sensex heat map

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Fund-raising via IPOs almost doubles in H1 2018: 18 firms raise Rs 236 bn   In a blockbuster performance, as many as 18 companies have raised a staggering Rs 236.7 billion through initial public offerings in the first half of this year, almost double from the year-ago period.   Moreover, the outlook appears to be bullish for the remaining part of 2018 as nearly 50 companies, including HDFC Mutual Fund, Lodha Developers and Rail Vikas Nigam are expected to launch their initial share-sale offers in the coming months. READ MORE

MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

WEB EXCLUSIVE Sectoral outlook for Q1FY19: Which are the five sectors to watch out for?   The upcoming results season of the first quarter in the current financial year 2018-19 (Q1FY19) has become more interesting because it is coming at the back of two years of sagging earnings growth. Will the market excuse another year of postponement in earnings recovery? Or will earnings growth finally begin to kick in at an aggregate level? Remember, the base quarter last year had a lot of business volume suppression owing to the goods and service tax (GST) transition. So it is only likely that we may see significant growth this time around in several sectors.    However, this may still not ignite full-fledged hopes of earnings recovery as GST related restocking will kick up the base in the coming quarter. READ MORE

First Published: Mon, July 09 2018. 08:15 IST
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MARKET WRAP: Banks push Sensex 277 pts higher; RIL up 2%, Infy gains 1%

Benchmark indices rose on Monday with heavyweights ASian Paints and Reliance Industries driving the indices highe

Benchmark indices ended higher on Monday with Nifty50 index settling above its crucial  10,850 levels, tracking gains in Asian peers after favourable US jobs data boosted risk appetite, with heavyweights Asian Paints and Reliance Industries (RIL) driving the indices higher. The S&P BSE Sensex ended at 35,935, up 277 points while the broader Nifty50 index settled at 10,853, up 80 points. Among sectoral indices Nifty Bank, Nifty PSU Banks and Nifty Pvt Bank indices ended 1% higher each with Federal Bank, YES Bank, RBL Bank and Axis Bank as top gainers in the pack. Nifty ...

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