You are here: Home » Markets » News
Business Standard

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Among sectoral indices, the Nifty PSU Bank index ended over 2 per cent lower due to a fall in share prices of Andhra Bank and Punjab National Bank (PNB).

SI Reporter  |  New Delhi 

The benchmark indices ended flat with the Nifty 50 settling at a new closing high on Tuesday amid firm global markets. The Nifty 50 index settled at a fresh closing high of 11,389, up 2 points. However, the S&P BSE Sensex ended at 37,666, down 26 points. Earlier in the day the S&P BSE Sensex hit a fresh all-time high of 37,876.87 while the Nifty50 index touched its record high level of 11,428.95 in intra-day deals. Among sectoral indices, the Nifty PSU Bank index ended over 2 per cent lower due to a fall in share prices of Andhra Bank and Punjab National Bank ...

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 Credit Cards and select Debit Cards (Issued by ICICI Bank only)
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.
  • Requires you to share personal information like date of birth, income, location amongst other fields. This information alongwith your contact information will be shared with the partners associated with this program, who contribute towards subsidizing the offer. By subscribing to this product you acknowledge and accept that our Partners may choose to contact you with offers of their products and services.
  • This is an optional offer - Not comfortable with sharing personal data - please opt for the full price offer which requires you to share minimal information

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

BS Digital + FREE Monthly access to The Wall Street Journal online

Business Standard Digital - 1 Month + FREE 1 Month access to
The Wall Street Journal online*
199.00
subscribe
FREE across device access to The Wall Street Journal online*
Convenient – Pay as you go
Pay using Credit Cards and select Debit Cards (Issued by ICICI Bank only)
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
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.
  • 18 years of archival data.

ON THE wall street journal online

  • Seamless access to The Wall Street Journal online on any device with your Business Standard Digital account.
  • Experience the best of WSJ’s reporting, video and interactive features (More business executives read the journal globally than any other publication).
  • Get WSJ’s take on people and events shaping business, finance, technology, politics and culture.
  • Get WSJ newsletters in your inbox to make life easier on your busiest days.
  • Your access to The Wall Street Journal online is subject to you not being an existing user of The Wall Street Journal online. Existing users include current or past Premium Users of The Wall Street Journal online. If you happen to be one, your subscription will be valid for Business Standard Digital only without any change in the subscription price.

NOTE :

  • This product is a monthly auto renewal product.
  • If you have been a past Free/Registered User of The Wall Street Journal online - You will not be eligible for the seamless account creation on The Wall Street Journal online facility. Kindly  email us your non-confidential password on The Wall Street Journal online to enable us activate your access from the backend.
  • 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.

SMART ANNUAL

BS Digital + Free 12 Month Access to The Wall Street Journal online

Business Standard Digital - 12 Months + FREE 12 Months access to The Wall Street Journal online*
1999.00
subscribe
Get 12 months of The Wall Street Journal online worth Rs 17165 FREE*
Single Seamless Sign-up to Business Standard Digital and The Wall Street Journal online
Convenient - Once a year payment
Pay using Credit or Debit Card
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 your 5 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.

ON THE wall street journal online

  • Seamless access to The Wall Street Journal online on any device with your Business Standard Digital account.
  • Experience the best of WSJ's reporting, video and interactive features (More business executives read the journal globally than any other publication).
  • Get WSJ's take on people and events shaping business, finance, technology, politics and culture.
  • Get WSJ newsletters in your inbox to make life easier on your busiest days.
  • Your access to The Wall Street Journal online is subject to you not being an existing user of The Wall Street Journal online. Existing users include current or past Premium Users of The Wall Street Journal online. If you happen to be one, your subscription will be valid for Business Standard Digital only without any change in the subscription price.

NOTE :

  • Saving calculated at the current WSJ price - US $ 1 for the first 3 months and US $ 28.99 thereafter Conversion scale 1 US$ = 65.04 INR
  • If you have been a past Free/Registered User of The Wall Street Journal online - You will not be eligible for the seamless account creation on The Wall Street Journal online facility. Kindly  email us your non-confidential password on The Wall Street Journal online to enable us activate your access from the backend.
  • 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.

SMART ANNUAL

Business Standard Digital

Business Standard Digital - 12 Months
1999.00
subscribe
Pay as you go
Payment though credit card only
Auto renewed (Subject to your card issuer's permission)
Exclusive invite to select Business Standard events
Cancel any time in the future

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 your 5 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 :

  • 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: Nifty settles at fresh closing high of 11,389; PSU banks slip

MARKET COMMENT Jayant Manglik, President, Religare Broking The equity benchmark indices traded in a narrow range, amidst intraday volatility. The Nifty index ended flat to close at 11,391 levels. The broader market indices’ performance was largely in line with the benchmark with BSE Midcap and BSE Smallcap ending with minor losses of 0.2% each. The sector indices exhibited mixed trend with Consumer Durables and Metals being the outperformers whereas, Oil & Gas, Healthcare and Realty were the top losers. Amongst the global markets, both Asian as well as European markets traded higher. With the frontline index trading at record highs, some consolidation cannot be ruled out. We expect stock specific volatility to continue with more corporate earnings scheduled in the next 1-2 weeks. Further, market participants would keep an eye on global developments especially the US-China trade war, progress of monsoon, currency and crude oil price movement  

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Nifty PSU Bank index ends 2.14% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) PUNJAB NATL.BANK 82.85 90.05 -7.20 -8.00 ANDHRA BANK 34.00 36.00 -2.00 -5.56 SYNDICATE BANK 41.90 44.10 -2.20 -4.99 UNION BANK (I) 86.50 90.60 -4.10 -4.53 ORIENTAL BANK 78.80 82.35 -3.55 -4.31

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Nifty sectoral gainers and losers of the day

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

BSE Sensex: Tata Steel, Asian Paints among top gainers of the day, Adani Ports top loser

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Markets at close The Nifty 50 index settled at a fresh closing high of 11,389, up 2 points. However, the S&P BSE Sensex ended at 37,666, down 26 points.

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

SoftBank posts 60% gain on Flipkart bet, sets aside $650 million STCG tax Masayoshi Son-led Japanese conglomerate SoftBank on Monday showed a gain of ¥ 164.25 billion (around $1.48 billion) on its balance sheet owing to an increase in the fair value of its stake in Flipkart, translating to 60 per cent return on its last year’s investment in the e-commerce firm. This comes ahead of the closure of the deal that will see SoftBank selling its entire 19.95 per cent stake in Flipkart for around $4 billion to Walmart. READ MORE

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Intellect Design zooms 20% on multi-million dollar deal with an Asian bank Shares of Intellect Design Arena is locked in the upper circuit of 20% at Rs 244 per share, also their 52-week high on the BSE, after the IT company announced a multi-million dollar deal with a leading bank in Asia with a strong foothold in Singapore, Malaysia, Indonesia, Thailand and China. READ MORE

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

PSU banks trade weak; Andhra Bank, Syndicate Bank, PNB down 5% Shares of public sector undertaking (PSU) banks have fallen by upto 5% on the National Stock Exchange (NSE) on Tuesday in intra-day trade after scam-hit Punjab National Bank (PNB) incurred a net loss for the second consecutive quarter. PNB slipped 5% to Rs 85.60, falling 7% from intra-day high on the BSE, after the bank reported a net loss of Rs 9.4 billion in June quarter (Q1FY19), on higher provision for bad loans. READ MORE  

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

M&M beats estimates for Q1 profits, net surges 63% to Rs 12.2 bn India's Mahindra & Mahindra Ltd reported a better-than-expected 63 per cent surge in first-quarter profit on Tuesday, underpinned by robust sales.   Standalone profit after tax, which does not include share of profit from its unit Mahindra Vehicle Manufacturers Ltd, stood at Rs 12.21 billion ($177.50 million) for the quarter ended June 30, compared with Rs 7.49 billion a year earlier. READ MORE Stock Quote:

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Market Check INDEX LATEST PREVIOUS CHANGE CHANGE(%) BSE SENSEX 37745.67 37691.89 53.78 0.14 BSE 500 15410.54 15404.19 6.35 0.04 BSE MID-CAP 16200.54 16248.48 -47.94 -0.30 BSE SMALL-CAP 16858.47 16899.52 -41.05 -0.24 S&P BSE LARGECAP 4425.55 4419.32 6.23 0.14 > More on BSE Indices

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Top gainers in BSEE 500: COMPANY PRICE() CHG() CHG(%) VOLUME T N NEWSPRINT 323.35 23.15 7.71 34288 DEEPAK NITRITE 266.95 16.95 6.78 52330 INOX LEISURE 229.85 14.35 6.66 89369 KRBL 364.55 17.55 5.06 59476 MANPASAND BEVER. 153.60 7.30 4.99 400280 » More on Top Gainers

First Published: Tue, August 07 2018. 08:15 IST
RECOMMENDED FOR YOU

MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Among sectoral indices, the Nifty PSU Bank index ended over 2 per cent lower due to a fall in share prices of Andhra Bank and Punjab National Bank (PNB).

The benchmark indices ended flat with the Nifty 50 settling at a new closing high on Tuesday amid firm global markets. The Nifty 50 index settled at a fresh closing high of 11,389, up 2 points. However, the S&P BSE Sensex ended at 37,666, down 26 points. Earlier in the day the S&P BSE Sensex hit a fresh all-time high of 37,876.87 while the Nifty50 index touched its record high level of 11,428.95 in intra-day deals. Among sectoral indices, the Nifty PSU Bank index ended over 2 per cent lower due to a fall in share prices of Andhra Bank and Punjab National Bank ...

image
Business Standard
177 22