MARKET WRAP: Sensex at new closing high of 38,897 on global cues; RIL up 2%
Among individual stocks, market heavyweight Reliance Industries (RIL) settled a new all-time high of Rs 1,323, up 2.4 per cent.
 "Markets")
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
The benchmark indices settled at their record closing highs on Tuesday taking positive cues from global markets after the United States and Mexico agreed to overhaul the North American Free Trade Agreement.
The S&P BSE Sensex settled at a fresh record closing high of 38,897, up 203 points, while the broader Nifty 50 index closed at a new high of 11,739, up 47 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38938.91. The Nifty50 index, on the other hand, touched its record high level of 11,760.20.
Among individual stocks, market heavyweight Reliance Industries (RIL) settled a new all-time high of Rs 1,323, up 2.4 per cent.
In sectors, the Nifty Metal index settled 1.8 per cent higher led by a rise in the share prices of Vedanta, JSW Steel and Hindalco Industries.
The S&P BSE Sensex settled at a fresh record closing high of 38,897, up 203 points, while the broader Nifty 50 index closed at a new high of 11,739, up 47 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38938.91. The Nifty50 index, on the other hand, touched its record high level of 11,760.20.
Among individual stocks, market heavyweight Reliance Industries (RIL) settled a new all-time high of Rs 1,323, up 2.4 per cent.
In sectors, the Nifty Metal index settled 1.8 per cent higher led by a rise in the share prices of Vedanta, JSW Steel and Hindalco Industries.
Economic Data
Investors will look forward to June-quarter GDP data to be announced on August 31. For the quarter ended March 31, 2018, the GDP growth print stood at 7.7 per cent.
Global Markets
Asian shares advanced on Tuesday and the US dollar hovered near its lowest in a month, with risk appetite sharpened by the United States and Mexico reaching a deal to overhaul the North American Free Trade Agreement.
Investors expect Canada too would agree to the new terms to preserve a three-nation pact, ultimately dispelling the economic uncertainty caused by US President Donald Trump’s repeated threats to ditch the 1994 NAFTA accord.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.4 per centfor a second straight day of gains. Australian shares added 0.7 per cent while Japan's Nikkei pared early gains to end 0.1 per cent higher.
(With inputs from Reuters)
3:43 PM
Nifty Metal index ends 1.82% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) | VOLUME |
|---|---|---|---|---|---|
| APL APOLLO | 1686.50 | 1623.80 | 62.70 | 3.86 | 23650 |
| HINDALCO INDS. | 239.00 | 230.25 | 8.75 | 3.80 | 18865065 |
| JSW STEEL | 366.20 | 355.60 | 10.60 | 2.98 | 6121154 |
| VEDANTA | 230.30 | 225.50 | 4.80 | 2.13 | 15426791 |
| WELSPUN CORP | 166.70 | 163.45 | 3.25 | 1.99 | 891970 |
3:39 PM
Nifty sectoral gainers and losers of the day
3:37 PM
BSE Sensex: RIL top gainer of the day, YES Bank top loser
3:35 PM
Market at close
The S&P BSE Sensex settled at a fresh record closing high of 38,897, up 203 points, while the broader Nifty 50 index closed at a new high of 11,739, up 47 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38,938.91. The Nifty50 index, on the other hand, touched its record high level of 11,760.20.
The S&P BSE Sensex settled at a fresh record closing high of 38,897, up 203 points, while the broader Nifty 50 index closed at a new high of 11,739, up 47 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38,938.91. The Nifty50 index, on the other hand, touched its record high level of 11,760.20.
3:15 PM
Sterlite closure hits copper production, imports up 221% in June quarter
Domestic refined copper production fell 47.1 per cent in quarter ending June (Q1FY19), leading to an increase in price and fall in exports. Though the fall in production was mainly due to the closure of Vedanta's smelter plant at Thoothukudi, the shutdown of smelters of Hindustan Copper (HCL) and Hindalco for maintenance purposes also had an impact. READ MORE
2:59 PM
SAIL closing in on NMDC's iron ore capacity
The gradual ramp-up of SAIL's captive iron ore capacity has brought it within striking distance of the country's largest iron ore producer, NMDC, which supplies to major steel producers like JSW Steel and Essar. READ MORE
2:47 PM
NMDC increases price of lump ore, iron ore fines by Rs 150 a tonne
NMDC Limited, a state-controlled mineral producer, has increased the price for lump ore and iron ore fines by Rs 150 a tonne with effect from August 22.
The company informed exchanges that the price has been increased to Rs 3,350 a tonne from Rs 3,200 a tonne for lump ore and to Rs 2,960 a tonne from Rs 2,810 a tonne for iron ore fines. READ MORE
2:32 PM
Gold steadies as US-Mexico trade deal weighs on dollar, China ties in focus
Gold steadied on Tuesday as the dollar hovered near a one-month low following a trade deal between the United States and Mexico, but concerns around a still developing US-China trade row kept a check on prices of the precious metal.
Spot gold inched 0.1 per cent higher to $1,212.33, after falling as much as 0.3 per cent earlier in the day. Prices on Monday hit their highest in two weeks. US gold futures were up 0.2 per cent at $1,218.40 an ounce. READ MORE
2:15 PM
Adani Group shares gain; Adani Transmission zooms 40% in two days
Shares of Gautam Adani-led Adani Group companies – Adani Transmission, Adani Enterprises, Adani Power and Adani Green Energy – have rallied by up to 17% on the BSE in intra-day trade on Tuesday. READ MORE
2:00 PM
Market Check
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 38,892.47 | +198.36 | +0.51 |
| S&P BSE SENSEX 50 | 12,292.39 | +49.87 | +0.41 |
| S&P BSE SENSEX Next 50 | 35,035.99 | -143.22 | -0.41 |
| S&P BSE 100 | 12,036.15 | +34.05 | +0.28 |
| S&P BSE Bharat 22 Index | 3,715.46 | -11.25 | -0.30 |
(Source: BSE)
1:45 PM
REITs: Good option for investors seeking regular income, diverse portfolio
Embassy Office Parks, the joint venture between Bengaluru-based Embassy group and US-based private equity fund Blackstone, plans to file the offer document for its real estate investment trust (REIT) soon. REITs, a long-awaited investment product, will give retail investors access to one more asset class with which to diversify their portfolios. READ MORE
1:30 PM
Weak rupee, firm alumina prices to bolster Nalco's earnings
A subdued rupee and the firming up of international alumina prices have spelt a bonanza for state controlled National Aluminium Company (Nalco). Since Nalco exports nearly 1.3 million tonnes alumina each year, it is harvesting the gains from the commodity’s price upswings as well as the falling rupee which is piling up gains. READ MORE
1:13 PM
Top gainers in BSE 500:
» More on Top Gainers
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
| ADANI TRANSMISSI | 233.90 | 30.75 | 15.14 | 1474947 |
| CHAMBAL FERT. | 166.10 | 14.10 | 9.28 | 776950 |
| J KUMAR INFRA | 243.50 | 18.80 | 8.37 | 49776 |
| EQUITAS HOLDINGS | 155.95 | 10.95 | 7.55 | 340993 |
| PFIZER | 3622.55 | 206.65 | 6.05 | 56091 |
1:02 PM
Cost structure in Rs 23-trillion mutual fund industry comes under Sebi lens
The cost structure in the Rs 23-trillion mutual fund (MF) industry has come under the radar of market regulator Securities and Exchange Board of India (Sebi). Sources say the regulator wants to probe the different components of the so-called total expense ratio (TER) charged to investors by fund houses. READ MORE
12:45 PM
Launch pipeline key for Godrej Properties after Q1 miss; stock falls
The Godrej Properties stock is down 5 per cent since the beginning of this month, and 20 per cent since May on signs of slowing growth and whether the company can match the record sales it achieved in 2017-18. In the June quarter, the company reported new bookings at Rs 8.2 billion, down 44 per cent over the year-ago quarter. READ MORE
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First Published: Aug 28 2018 | 8:15 AM IST