MARKET WRAP: Sensex settles at record closing high of 37,888; RIL up 2.85%
Market heavyweight RIL ended the day at Rs 1,217.25 on the BSE, rising 2.85 per cent from the previous close. The stock had hit a new high of Rs 1,222 in intra-day deals.
 "BSE, NSE, Markets, SENSEX")
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The benchmark indices settled at new record closing highs on Wednesday led by a rise in the shares of financial stocks and Reliance Industries (RIL).
The S&P BSE Sensex settled at a record high of 37,888, up 222 points, while the broader Nifty 50 index settled at a new high of 11,450, up 61 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,931.42 while the Nifty50 index touched its record high level of 11,459.95.
Market heavyweight RIL ended the day at Rs 1,217.25 on the BSE, rising 2.85 per cent from the previous close. The stock had hit a new high of Rs 1,222 in intra-day deals.
Among sectoral indices, the Nifty PSU Bank ended nearly 1 per cent higher led by State Bank of India and Bank of baroda.
Global Markets
Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong US earnings and expectations that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington.
The S&P BSE Sensex settled at a record high of 37,888, up 222 points, while the broader Nifty 50 index settled at a new high of 11,450, up 61 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,931.42 while the Nifty50 index touched its record high level of 11,459.95.
Market heavyweight RIL ended the day at Rs 1,217.25 on the BSE, rising 2.85 per cent from the previous close. The stock had hit a new high of Rs 1,222 in intra-day deals.
Among sectoral indices, the Nifty PSU Bank ended nearly 1 per cent higher led by State Bank of India and Bank of baroda.
Global Markets
Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong US earnings and expectations that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, led by Taiwan, while Japan's Nikkei ticked down 0.1 per cent.
Oil Prices
(With inputs from Reuters)
Oil prices held steady on Wednesday, supported by a report of rising US crude inventories as well as the introduction of sanctions against Iran.
Front-month US West Texas Intermediate (WTI) crude futures were at $69.28 per barrel, up 11 cents from their last settlement. Brent crude oil futures were at $74.61 per barrel, down 4 cents from their last close.
(With inputs from Reuters)
3:47 PM
Nifty PSU Bank index ends 0.89% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
|---|---|---|---|---|
| BANK OF BARODA | 148.60 | 146.15 | 2.45 | 1.68 |
| ST BK OF INDIA | 308.70 | 304.05 | 4.65 | 1.53 |
| IDBI BANK | 62.25 | 61.90 | 0.35 | 0.57 |
3:44 PM
Nifty sectoral gainers of the day
3:40 PM
BSE Sensex: ONGC, RIL, ICICI Bank, SBI among top gainers of the day
3:35 PM
Markets at close
The S&P BSE Sensex settled at a record high of 37,888, up 222 points, while the broader Nifty 50 index settled at a new high of 11,450, up 61 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,931.42 while the Nifty50 index touched its record high level of 11,459.95.
The S&P BSE Sensex settled at a record high of 37,888, up 222 points, while the broader Nifty 50 index settled at a new high of 11,450, up 61 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,931.42 while the Nifty50 index touched its record high level of 11,459.95.
3:24 PM
Lupin slips 5% as Q1 profit misses Street's estimate
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3:12 PM
A rising dollar is set to limit the return on gold investment in the near-term, despite geopolitical tensions rising abroad. With the US Federal Reserve expected to raise interest rates again next month, the dollar might continue to fetch better returns than other asset classes, including gold and silver, in the near-term. READ MORE
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A rising dollar is set to limit the return on gold investment in the near-term, despite geopolitical tensions rising abroad. With the US Federal Reserve expected to raise interest rates again next month, the dollar might continue to fetch better returns than other asset classes, including gold and silver, in the near-term. READ MORE
2:58 PM
Why analysts are sceptic about India's record-breaking stock rally
When it comes to the Indian stock market, analysts are not following investors' exuberance. A booming economy and encouraging corporate results have sent the benchmark S&P BSE Sensex racing past 22 record highs this year. While gains have accelerated in the past six weeks, analysts have failed to keep up, and the average price estimate for members of the gauge is now just 14 per cent above their stock prices, the narrowest gap since February, data compiled by Bloomberg show. READ MORE
2:42 PM
India's MF industry one of the costliest globally: Ex-Sebi chief UK Sinha
The asset management industry in India is one of the costliest and there is a lot of scope to further bring down the costs of investing, said UK Sinha, former chairman, Securities and Exchange Board of India (Sebi). READ MORE
2:27 PM
Reliance Industries hits new high; soars 37% thus far in FY19
Shares of Reliance Industries (RIL) hit a new high of Rs 1,208 per share, up 2% on the BSE on Wednesday, surpassing its previous high of Rs 1,203 recorded on August 1, 2018 in intra-day trade. READ MORE
2:15 PM
M&M raises tractor volume forecast, posts 23% revenue growth to Rs 133 bn
Powered by strong volume growth in tractors and commercial vehicles (CVs), albeit on a low base, Mahindra & Mahindra posted robust 23 per cent growth in revenue to Rs 133 billion for the June quarter. While volume growth in the automobile segment was 19.6 per cent, that of the farm equipment segment was up 18 per cent over the year-before quarter. READ MORE
2:01 PM
Market Check
> More on BSE Indices
| INDEX | LATEST | PREVIOUS | CHANGE | CHANGE(%) |
|---|---|---|---|---|
| BSE SENSEX | 37891.56 | 37665.80 | 225.76 | 0.60 |
| BSE 500 | 15471.85 | 15391.07 | 80.78 | 0.52 |
| BSE MID-CAP | 16269.13 | 16219.24 | 49.89 | 0.31 |
| BSE SMALL-CAP | 16944.53 | 16862.46 | 82.07 | 0.49 |
| S&P BSE LARGECAP | 4441.66 | 4416.90 | 24.76 | 0.56 |
1:45 PM
The retail segment of the Rs23-trillion mutual fund (MF) industry is growing at a much faster clip. N S Venkatesh, chief executive of the Association of Mutual Funds in India (Amfi), talks to Jash Kriplani on the latest milestones. READ MORE
MF retail assets crossing Rs 10 trn a big achievement: Amfi's N S Venkatesh
The retail segment of the Rs23-trillion mutual fund (MF) industry is growing at a much faster clip. N S Venkatesh, chief executive of the Association of Mutual Funds in India (Amfi), talks to Jash Kriplani on the latest milestones. READ MORE
N S Venkatesh
1:32 PM
IMF says India's economy is an elephant that's starting to run, flags risks
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The $2.6 trillion economy was described by Ranil Salgado, the IMF’s mission chief for India, as an elephant starting to run, with growth forecast at 7.3 per cent in the fiscal year through March 2019 and 7.5 per cent in the year after that. The nation accounts for about 15 per cent of global growth, according to the Washington-based fund. READ MORE
1:16 PM
Britannia, ITC to hike product prices on account of rising wheat price
Sharp short-term rise in wheat prices is burdening manufacturers of products like atta and biscuits, who, in turn, pass on the increased cost to the customer. Britannia is considering price hike while ITC, another big procurer of wheat, is also mulling similar move in Aashirvaad Atta and its variants. Smaller manufacturers of wheat and other products like bread etc may also be forced to pass on the increased burden. READ MORE
1:05 PM
MNC pharma in focus; Merck, Novartis India, GSK Pharma hit 52-week highs
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First Published: Aug 08 2018 | 8:12 AM IST
