MARKET WRAP: Sensex ends at fresh closing high of 38,024; Bankex up 1.3%
ICICI Bank, Axis Bank, SBI lead charge on the 30-share index
 "Markets, Stocks, BSE, NSE, Trade")
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The benchmark indices settled at fresh closing high on Thursday, led by a rise in the shares of financial and realty stocks. The S&P BSE Sensex settled at a record high of 38,024, up 137 points, while the broader Nifty 50 index closed at a new high of 11,471, up 21 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 38,076.23. The Nifty50 index, on the other hand, touched its record high level of 11,495.20.
In stocks, ICICI Bank settled 4.64 per cent higher at Rs 332.95 while Axis Bank rose 3.86 per cent at Rs 619.45 on the BSE.
Among sectoral indices, the Nifty PSU Bank index gained around 3 per cent led by rise in Union Bank of India and Bank of India. The Nifty Realty index too, moved up 2 per cent led by DLF and Unitech.
Banks rally
Shares of public sector undertaking (PSU) bank were in focus with the Nifty PSU Bank index gaining around 3% on the National Stock Exchange (NSE) in an otherwise range-bound market on Thursday.
Union Bank of India, Allahabad Bank and Oriental Bank of Commerce were up 5% each, while Andhra Bank, Bank of India, Canara Bank, Bank of Baroda, Syndicate Bank, Punjab National Bank (PNB) and State Bank of India (SBI) were up in the range of 3% to 4% on the NSE.
Global Markets
Asian share markets found support on Thursday as a rally in Chinese stocks helped offset the latest escalation in the Sino-US trade war, while Russia's rouble tumbled as the United States slapped fresh sanctions on the country.
Shanghai blue chips climbed 2.7 per cent amid talk of possible government support for home-grown technology companies, just the latest in a series of growth boosting measures rolled out by Beijing as the trade dispute worsens.
The gains in Chinese stocks helped MSCI's broadest index of Asia-Pacific shares outside Japan reverse early losses to nudge up 0.5 per cent. Japan's Nikkei slipped 0.2 per cent, weighed in part by a shock slump in core machinery orders.
The gains in Chinese stocks helped MSCI's broadest index of Asia-Pacific shares outside Japan reverse early losses to nudge up 0.5 per cent. Japan's Nikkei slipped 0.2 per cent, weighed in part by a shock slump in core machinery orders.
(with wire inputs)
3:47 PM
The Nifty PSU Bank index ends 2.98% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
|---|---|---|---|---|
| UNION BANK (I) | 89.15 | 85.05 | 4.10 | 4.82 |
| BANK OF INDIA | 98.00 | 94.00 | 4.00 | 4.26 |
| BANK OF BARODA | 154.75 | 148.60 | 6.15 | 4.14 |
| ALLAHABAD BANK | 45.80 | 44.00 | 1.80 | 4.09 |
| ORIENTAL BANK | 81.05 | 78.15 | 2.90 | 3.71 |
3:43 PM
Nifty sectoral gainers of the day
3:39 PM
BSE Sensex: ICICI Bank, Axis Bank, SBI among top gainers
3:35 PM
Market at close
The S&P BSE Sensex settled at a record high of 38,024, up 137 points, while the broader Nifty 50 index closed at a new high of 11,471, up 21 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 38,076.23. The Nifty50 index, on the other hand, touched its record high level of 11,495.20.
The S&P BSE Sensex settled at a record high of 38,024, up 137 points, while the broader Nifty 50 index closed at a new high of 11,471, up 21 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 38,076.23. The Nifty50 index, on the other hand, touched its record high level of 11,495.20.
3:18 PM
HPCL gains after strong Q1 earnings
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3:02 PM
Page Industries, Graphite India hit record highs on strong Q1 results
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2:44 PM
Best is yet to come for NSE: Former prime minister Manmohan Singh
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2:29 PM
Gold remains weak on muted demand, global cues
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Gold
2:15 PM
Market Check
> More on BSE Indices
| INDEX | LATEST | PREVIOUS | CHANGE | CHANGE(%) |
|---|---|---|---|---|
| BSE SENSEX | 38045.41 | 37887.56 | 157.85 | 0.42 |
| BSE 500 | 15505.29 | 15450.35 | 54.94 | 0.36 |
| BSE MID-CAP | 16340.79 | 16245.33 | 95.46 | 0.59 |
| BSE SMALL-CAP | 16912.36 | 16868.20 | 44.16 | 0.26 |
| S&P BSE LARGECAP | 4452.88 | 4437.99 | 14.89 | 0.34 |
2:00 PM
Shares of Bandhan Bank have surged 7% to Rs 742 per share, their highest level since listing on March 27, 2018 on the National Stock Exchange (NSE), on back of heavy volumes. The market price of the private sector bank jumped nearly 100% against its issue price of Rs 375. READ MORE
Bandhan Bank hits new high; stock soars nearly 100% against issue price
Shares of Bandhan Bank have surged 7% to Rs 742 per share, their highest level since listing on March 27, 2018 on the National Stock Exchange (NSE), on back of heavy volumes. The market price of the private sector bank jumped nearly 100% against its issue price of Rs 375. READ MORE
1:46 PM
Companies conduct analyst meets at the rate of two a day as markets soar
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1:29 PM
Top gainers in BSE 500:
» More on Top Gainers
| COMPANY | PRICE() | CHG() | CHG(%) |
|---|---|---|---|
| HIND.CONSTRUCT. | 12.78 | 1.29 | 11.23 |
| REL. COMM. | 19.84 | 1.48 | 8.06 |
| VENKY'S (INDIA) | 3229.90 | 216.45 | 7.18 |
| NATL. ALUMINIUM | 71.85 | 4.45 | 6.60 |
| SOBHA | 527.95 | 32.40 | 6.54 |
1:16 PM
Shortage of long product steel hurting EPC companies as cost goes up
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1:00 PM
On the occasion of the National Stock Exchange’s (NSE’s) silver jubilee celebration, its MD and CEO Vikram Limaye spoke to Somesh Jha to discuss the way forward and how the exchange plans to deal with the present set of issues. READ MORE HERE
Extended trading hours from October 1, says NSE CEO Vikram Limaye
On the occasion of the National Stock Exchange’s (NSE’s) silver jubilee celebration, its MD and CEO Vikram Limaye spoke to Somesh Jha to discuss the way forward and how the exchange plans to deal with the present set of issues. READ MORE HERE
Vikram Limaye. Photo: Business Standard
12:47 PM
L&T Infotech premium valuations to sustain, strong show leads to rerating
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First Published: Aug 09 2018 | 8:15 AM IST