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MARKET WRAP: Sensex ends 267 pts up; HUL, RIL HDFC twins among key gainers

Among the sectoral indices, the Nifty Auto index settled 1.25% higher led by a rise in the shares of Bajaj Auto, TVS Motos and Maruti Suzuki

SI Reporter  |  New Delhi 

MARKETS LIVE, Nifty, Sensex, US, China, trade war, oil prices, asian market

MARKET COMMENT Jayant Manglik, President, Religare Broking We expect the Indian equities to remain range bound in the coming sessions. Domestic macro data and movement of currency & crude oil will dictate the further course of the market in the near term. Market participants would also closely monitor the trade tension between US & China. Under uncertain domestic and global environment, steady reform implementation and revival in the corporate earnings is essential for the markets. We advise traders to trade cautiously whereas investors can continue to accumulate fundamentally sound companies Nifty Auto index ended 1.25% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) BAJAJ AUTO 2979.05 2862.40 116.65 4.08 TVS MOTOR CO. 581.40 561.15 20.25 3.61 MARUTI SUZUKI 9220.80 8975.15 245.65 2.74 BHARAT FORGE 636.75 620.40 16.35 2.64 AMARA RAJA BATT. 777.00 762.35 14.65 1.92 Nifty sectoral performers of the day BSE Sensex: Bajaj Auto, Maruti Suzuki among top gainers of the day, NTPC top loser Market at close   The S&P BSE Sensex ended at 35,645, up 267 points while the broader Nifty50 index settled at 10,770, up 70 points. In big jump, SMEs raise Rs 8.25 billion through IPOs in April-June quarter Small and medium enterprises (SMEs) raised a staggering Rs 8.25 billion through initial public offerings in the first quarter of 2018-19, more than a two-fold jump from the preceding financial year.   Funds raised through initial public offers (IPOs) were meant for business expansion plans, working capital requirements and other general corporate purposes, according to offer documents. READ MORE

The benchmark indices settled higher on Wednesday despite concerns in the global markets, including - worries and

The S&P BSE ended at 35,645, up 267 points while the broader Nifty50 index settled at 10,770, up 70 points. Gains in the S&P BSE were led by Bajaj Auto, Hindustan Unilever (HUL), Reliance Industries (RIL), HDFC and HDFC Bank that firmed up 1.5 per cent to 4.4 per cent.

Among the sectoral indices, the Auto index settled 1.25% higher led by a rise in the shares of Bajaj Auto, TVS Motos and Maruti Suzuki. The Pharma index also rose 0.8% as stocks of Lupin, Dr Reddy's and Cadila Healthcare rallied between 1.9 per cent to 3.9 per cent.

GLOBAL MARKETS

Asian stocks slipped on Wednesday as an end-of-week deadline for tariffs on $34 billion worth of Chinese imports loomed while the yuan stabilised after China's central bank moved to calm nervous investors.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent, a day after it hit a nine-month low. Japan's Nikkei erased earlier losses to stand flat by late afternoon. Mainland Chinese shares dropped, with CSI300 Index off 0.7 per cent.
 
Many investors fear Washington will go ahead with its plan to impose tariffs on $34 billion worth of Chinese goods on July 6, which Beijing has vowed to match with tariffs on products, raising the risk of a full-blown

OIL PRICES

edged up on Wednesday following a report of tightening fuel inventories amid an outage at Syncrude Canada oil sands facility in Alberta, which usually supplies the United States.

Prices were also pushed up by looming US sanctions against Iran, which threaten to cut supplies to an already tight market despite pledges by producer cartel OPEC to raise output to make up for the disruptions.

US West Texas Intermediate (WTI) crude futures had risen 37 cents (0.4 per cent) to $74.51 a barrel, compared with their last settlement. On Tuesday, WTI hit its highest since November 2014 at $75.27. Brent crude futures were changing hands at $78.04 per barrel, up 28 cents (0.4 per cent) from their last close.

MINIMUM SUPPORT PRICE ON FARM PRODUCE

Back home, the government today hiked the minimum support price (MSP) for paddy by a steep Rs 200 per quintal as it looked to fulfil its poll promise to give farmers 50 per cent more rate than their cost of production.

The Cabinet Committee on Economic Affairs (CCEA) at its meeting today approved the MSP of 14 Kharif (summer-sown) crops.

(With wire inputs)

First Published: Wed, July 04 2018. 08:15 IST
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MARKET WRAP: Sensex ends 267 pts up; HUL, RIL HDFC twins among key gainers

Among the sectoral indices, the Nifty Auto index settled 1.25% higher led by a rise in the shares of Bajaj Auto, TVS Motos and Maruti Suzuki

The benchmark indices settled higher on Wednesday despite concerns in the global markets, including - worries and

The S&P BSE ended at 35,645, up 267 points while the broader Nifty50 index settled at 10,770, up 70 points. Gains in the S&P BSE were led by Bajaj Auto, Hindustan Unilever (HUL), Reliance Industries (RIL), HDFC and HDFC Bank that firmed up 1.5 per cent to 4.4 per cent.

Among the sectoral indices, the Auto index settled 1.25% higher led by a rise in the shares of Bajaj Auto, TVS Motos and Maruti Suzuki. The Pharma index also rose 0.8% as stocks of Lupin, Dr Reddy's and Cadila Healthcare rallied between 1.9 per cent to 3.9 per cent.

GLOBAL MARKETS

Asian stocks slipped on Wednesday as an end-of-week deadline for tariffs on $34 billion worth of Chinese imports loomed while the yuan stabilised after China's central bank moved to calm nervous investors.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent, a day after it hit a nine-month low. Japan's Nikkei erased earlier losses to stand flat by late afternoon. Mainland Chinese shares dropped, with CSI300 Index off 0.7 per cent.
 
Many investors fear Washington will go ahead with its plan to impose tariffs on $34 billion worth of Chinese goods on July 6, which Beijing has vowed to match with tariffs on products, raising the risk of a full-blown

OIL PRICES

edged up on Wednesday following a report of tightening fuel inventories amid an outage at Syncrude Canada oil sands facility in Alberta, which usually supplies the United States.

Prices were also pushed up by looming US sanctions against Iran, which threaten to cut supplies to an already tight market despite pledges by producer cartel OPEC to raise output to make up for the disruptions.

US West Texas Intermediate (WTI) crude futures had risen 37 cents (0.4 per cent) to $74.51 a barrel, compared with their last settlement. On Tuesday, WTI hit its highest since November 2014 at $75.27. Brent crude futures were changing hands at $78.04 per barrel, up 28 cents (0.4 per cent) from their last close.

MINIMUM SUPPORT PRICE ON FARM PRODUCE

Back home, the government today hiked the minimum support price (MSP) for paddy by a steep Rs 200 per quintal as it looked to fulfil its poll promise to give farmers 50 per cent more rate than their cost of production.

The Cabinet Committee on Economic Affairs (CCEA) at its meeting today approved the MSP of 14 Kharif (summer-sown) crops.

(With wire inputs)

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