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MARKET WRAP: Sensex hits new high; Nifty at highest level since February 01

Among sectoral indices, the Nifty FMCG index gained nearly 2.5%, led by a rise in the share prices of Godrej Consumer Products and ITC.

SI Reporter  |  New Delhi 

Markets, Stocks, Shares
A share broker monitors market fluctuation

MARKET COMMENT Jayant Manglik, President, Religare Broking Nifty settled with decent gains today and inched closer to its record high. The news of GST Council reduced on list of over 100 items and simplification of return filing brings in some cheer. Selective index majors from FMCG, auto, realty and metal fuelled the rally which further supported by rebound in banking pack. Besides, some relief was also witnessed on broader front.   Both Nifty and Bank Nifty have reached closer to their immediate and crucial hurdle of 11100 and 27100 respectively and a decisive breakout will trigger fresh surge ahead. But, we're in expiry week so volatility tends to remain high. We suggest maintaining positive yet cautious approach in the key indices, considering the mixed sentiment. Traders should focus more on the money management aspects and avoid taking unnecessary risk Nifty FMCG index ends 2.46% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) GODREJ CONSUMER 1344.75 1287.05 57.70 4.48 ITC 284.15 274.00 10.15 3.70 GODREJ INDS. 605.00 591.85 13.15 2.22 HIND. UNILEVER 1690.90 1655.85 35.05 2.12 TATA GLOBAL 243.00 238.60 4.40 1.84 Nifty sectoral gainers of the day BSE Sensex: ITC, Vedanta, Maruti Suzuki, Adani Ports among top gainers of the day Market at close The S&P BSE Sensex ended at 36,719, up 222 points while the broader Nifty50 index settled at 11,085, up 75 points. Tobacco / Cigarette-related stocks surge COMPANY NAME LATEST HIGH LOW CHG () CHG(%) VALUE ( CR) VOLUME ITC 283.80 286.50 276.00 10.35 3.78 37.09 1307010 GODFREY PHILLIPS 756.40 759.70 695.30 58.70 8.41 2.97 39290 VST INDS. 2817.00 2992.85 2616.15 319.10 12.77 5.89 20925 INDIAN WOOD PROD 705.00 705.00 695.00 5.00 0.71 0.05 646 NTC INDS. 32.50 32.50 30.50 0.65 2.04 0.00 216 GOLDEN TOBACCO 43.40 43.40 43.40 -2.25 -4.93 0.00 209

Benchmark ended higher on Monday lifted by consumer such as index heavyweight ITC, after the Goods and Services Tax (GST) Council cut tax rates on scores of items while keeping the cess on cigarettes unchanged during its weekend meeting.

The S&P ended at a record high of 36,719, up 222 points. The index had hit an intra-day high of 36,749.69. The broader Nifty50 index settled at 11,085, up 75 points.

Among sectoral indices, the FMCG index gained nearly 2.5%, led by a rise in the share prices of Godrej Consumer Products and ITC. The PSU Bank index also ended 2.4% higher led by Bank of Baroda and Punjab National Bank.

GST RATE CUT IMPACT

of paint, consumer durables and footwear companies have rallied by up to 10 per cent on the BSE, after the GST Council on Saturday reduced tax rates from 28 per cent to 18 per cent on a range of daily use products and appliances.

Among items on which GST was reduced include footwear, small televisions, water heater, electric ironing machines, refrigerators, lithium ion batteries, hair dryers, vacuum cleaners, food appliances and ethanol.

CALENDAR
 
Among key results, Asian Paints, Bharti Infratel, Hero MotoCorp, Larsen & Toubro, Maruti Suzuki, Bharti Airtel, ITC, HCL Technologies and Reliance Industries are likely to announce their 2018 quarter later this week.

GLOBAL MARKETS

Asian dipped on Monday while the dollar fell after US President Donald Trump criticised the Federal Reserve's monetary policy and amid reports Japan's central bank could wind back its massive fund purchases.

MSCI's broadest index of Asia-Pacific outside Japan fell 0.2 per cent on Monday. Japan's Nikkei stumbled 1.3 per cent while South Korea's Kospi index slipped 0.8 per cent.

OIL PRICES

Oil prices fell on Monday because of increasing concerns about fuel demand after finance ministers and central bank governors from the G20 warned that global economic growth risks have increased amid rising trade and geopolitical tensions.

Brent crude dropped 10 cents, or 0.1 per cent, to $72.97 a barrel. US West Texas Intermediate (WTI) futures declined 8 cents, or 0.1 per cent, to $68.18 a barrel.

(with wire inputs)

First Published: Mon, July 23 2018. 08:15 IST
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MARKET WRAP: Sensex hits new high; Nifty at highest level since February 01

Among sectoral indices, the Nifty FMCG index gained nearly 2.5%, led by a rise in the share prices of Godrej Consumer Products and ITC.

Benchmark ended higher on Monday lifted by consumer such as index heavyweight ITC, after the Goods and Services Tax (GST) Council cut tax rates on scores of items while keeping the cess on cigarettes unchanged during its weekend meeting.

The S&P ended at a record high of 36,719, up 222 points. The index had hit an intra-day high of 36,749.69. The broader Nifty50 index settled at 11,085, up 75 points.

Among sectoral indices, the FMCG index gained nearly 2.5%, led by a rise in the share prices of Godrej Consumer Products and ITC. The PSU Bank index also ended 2.4% higher led by Bank of Baroda and Punjab National Bank.

GST RATE CUT IMPACT

of paint, consumer durables and footwear companies have rallied by up to 10 per cent on the BSE, after the GST Council on Saturday reduced tax rates from 28 per cent to 18 per cent on a range of daily use products and appliances.

Among items on which GST was reduced include footwear, small televisions, water heater, electric ironing machines, refrigerators, lithium ion batteries, hair dryers, vacuum cleaners, food appliances and ethanol.

CALENDAR
 
Among key results, Asian Paints, Bharti Infratel, Hero MotoCorp, Larsen & Toubro, Maruti Suzuki, Bharti Airtel, ITC, HCL Technologies and Reliance Industries are likely to announce their 2018 quarter later this week.

GLOBAL MARKETS

Asian dipped on Monday while the dollar fell after US President Donald Trump criticised the Federal Reserve's monetary policy and amid reports Japan's central bank could wind back its massive fund purchases.

MSCI's broadest index of Asia-Pacific outside Japan fell 0.2 per cent on Monday. Japan's Nikkei stumbled 1.3 per cent while South Korea's Kospi index slipped 0.8 per cent.

OIL PRICES

Oil prices fell on Monday because of increasing concerns about fuel demand after finance ministers and central bank governors from the G20 warned that global economic growth risks have increased amid rising trade and geopolitical tensions.

Brent crude dropped 10 cents, or 0.1 per cent, to $72.97 a barrel. US West Texas Intermediate (WTI) futures declined 8 cents, or 0.1 per cent, to $68.18 a barrel.

(with wire inputs)

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