MARKET WRAP: Indices end at new closing highs, Nifty at 11571; pharma gains
Among sectoral indices, Nifty Pharma index was the lead gainer, rising over 1.5 per cent led by Glenmark Pharmaceuticals and Piramal Enterprises.
 "SMEs, banks, foreign exchange, markets, forex, small and medium price industries,")
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
The benchmark indices settled broadly flat on Tuesday amid firm Asian markets.
The S&P BSE Sensex settled at a fresh record closing high of 38,286, up 7 points, while the broader Nifty 50 index closed at a new high of 11,571, up 19 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38,402.96. The Nifty50 index, on the other hand, touched its record high level of 11,581.75.
Among sectoral indices, the Nifty Realty index slipped around 2 per cent due to fall in shares of Housing Development and Infrastructure and Unitech. On the other hand, Nifty Pharma index was the lead gainer, rising over 1.5 per cent led by Glenmark Pharmaceuticals and Piramal Enterprises.
Rupee
The S&P BSE Sensex settled at a fresh record closing high of 38,286, up 7 points, while the broader Nifty 50 index closed at a new high of 11,571, up 19 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38,402.96. The Nifty50 index, on the other hand, touched its record high level of 11,581.75.
Among sectoral indices, the Nifty Realty index slipped around 2 per cent due to fall in shares of Housing Development and Infrastructure and Unitech. On the other hand, Nifty Pharma index was the lead gainer, rising over 1.5 per cent led by Glenmark Pharmaceuticals and Piramal Enterprises.
Rupee
Rupee rose to its highest in a week on Tuesday tracking Asian currencies after US President Donald Trump said in interview to Reuters that he was "not thrilled" with the Federal Reserve's interest rate hikes.
Global Markets
Global Markets
Asian stocks rose on Tuesday, supported by hopes Beijing and Washington would dial back trade hostilities, though comments from the US president about the yuan and Federal Reserve policy capped gains and weighed on the dollar.
In an interview with Reuters on Monday, President Donald Trump said that China was manipulating its currency to make up for having to pay tariffs imposed by Washington on some imports from China. This kept global trade conflict concerns alive and dented some of the market optimism ahead of upcoming US-China trade talks.
In an interview with Reuters on Monday, President Donald Trump said that China was manipulating its currency to make up for having to pay tariffs imposed by Washington on some imports from China. This kept global trade conflict concerns alive and dented some of the market optimism ahead of upcoming US-China trade talks.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.6 per cent. Australian stocks lost 1 per cent, South Korea's KOSPI gained 0.95 per cent and Japan's Nikkei advanced 0.2 per cent. Chinese shares rose, with the Shanghai Composite Index climbing more than 1 per cent, helped by bargain hunting of consumer and healthcare firms after their recent slump.
(with Reuters inputs)
3:42 PM
Nifty Pharma index ends 1.54% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
|---|---|---|---|---|
| GLENMARK PHARMA. | 638.30 | 608.20 | 30.10 | 4.95 |
| PIRAMAL ENTERP. | 2842.00 | 2771.80 | 70.20 | 2.53 |
| CADILA HEALTH. | 386.90 | 377.45 | 9.45 | 2.50 |
| LUPIN | 889.20 | 869.25 | 19.95 | 2.30 |
| SUN PHARMA.INDS. | 634.90 | 626.35 | 8.55 | 1.37 |
3:40 PM
Nifty sectoral gainers and losers of the day
3:39 PM
BSE Sensex: Sun Pharma, Axis Bank, COAL India among top gainers of the day, Tata Steel top loser
3:36 PM
Market at close
The S&P BSE Sensex settled at a fresh record closing high of 38,286, up 7 points, while the broader Nifty 50 index closed at a new high of 11,571, up 19 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38,402.96. The Nifty50 index, on the other hand, touched its record high level of 11,581.75.
The S&P BSE Sensex settled at a fresh record closing high of 38,286, up 7 points, while the broader Nifty 50 index closed at a new high of 11,571, up 19 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38,402.96. The Nifty50 index, on the other hand, touched its record high level of 11,581.75.
3:17 PM
Gold at 1-week high as Trump remarks on Fed weigh on dollar
Gold prices on Tuesday climbed to a one-week high on the back of a weaker dollar, after US President Donald Trump said he was "not thrilled" with the Federal Reserve for raising interest rates.
Spot gold rose 0.4 per cent to $1,194.81 an ounce, after touching $1,196.27 earlier, the highest level since Aug. 14. US gold futures climbed 0.5 per cent to $1,200.60 an ounce. READ MORE
Gold
3:03 PM
Loans for Indian firms may get costlier as foreign banks turn selective
Indian firms have enjoyed the cheapest foreign-currency loan costs in more than a decade but may find the tides turning as banks become more selective. READ MORE
2:44 PM
India tells state oil firm ONGC to list overseas unit
The Indian government has asked its biggest state-owned firm, Oil and Natural Gas, to list its overseas unit ONGC Videsh, according to a letter seen by Reuters.
The move to float the unit - which has investments in 11 producing assets in countries including Russia, Brazil and Iran - is part of a government push to sell state-assets to raise funds. READ MORE
2:29 PM
Nifty's journey from 1,000 to 11,500 levels: All you need to know
As Nifty50 hit a lifetime high of 11,581.75 on Tuesday, it is notable to know that the index hovered around 1,000 levels in back in 2002.
Over these 16 years, the representation in Nifty50 index has undergone a sea change in consonance with the changes in the underlying economy. As new sectors and companies evolved, their stocks found place in the benchmark index. Some, on the other hand, lost relative importance. READ MORE
2:14 PM
India's GDP brawl could hurt Modi politically and prevent a rupee reset
Just as some analysts were starting to believe in a reset for the Indian rupee, with the government becoming more relaxed about letting it weaken, history got in the way.
The history in question is past GDP data, which haven’t been officially released after India reworked its calculation methodology in early 2015. But the report of a subcommittee tasked to suggest ways to link the old and the new GDP series was recently made public. The panel’s calculations suggest growth averaged a tad above 8 per cent in the 10 years through fiscal 2014, compared with 7.4 per cent since then. READ MORE
2:01 PM
Market Check
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 38,275.13 | -3.62 | -0.01 |
| S&P BSE SENSEX 50 | 12,107.64 | +10.64 | +0.09 |
| S&P BSE SENSEX Next 50 | 34,663.00 | +257.65 | +0.75 |
| S&P BSE 100 | 11,863.18 | +22.09 | +0.19 |
| S&P BSE Bharat 22 Index | 3,659.77 | +4.53 | +0.12 |
(Source: BSE)
1:49 PM
Top gainers in BSE 500:
» More on Top Gainers
| COMPANY | PRICE() | CHG() | CHG(%) |
|---|---|---|---|
| KAJARIA CERAMICS | 452.10 | 38.05 | 9.19 |
| SUVEN LIFE SCIE. | 253.10 | 21.25 | 9.17 |
| CESC | 1015.65 | 75.15 | 7.99 |
| WELSPUN CORP | 149.20 | 8.15 | 5.78 |
| CUMMINS INDIA | 746.75 | 38.25 | 5.40 |
1:42 PM
LIC Housing Finance hits four-month high ahead of Q1 results
Shares of LIC Housing Finance hit a four month high of Rs 569 per share, rising 3% on the BSE ahead of April-June quarter (Q1FY19) results on Friday, August 24, 2018. READ MORE
1:31 PM
Growth in key markets perks up Aurobindo stock, earnings to increase
Shares of Aurobindo Pharma have been gaining on the bourses, and are up over 9 per cent since the June quarter results, announced a few days ago. This took the total gains to about 25 per cent since the June lows of Rs 526.
Easing concerns over pricing pressure in the US, and Food and Drug Administration (FDA) inspections at Aurobindo’s manufacturing units are behind the upbeat sentiment. Continued traction in the US and boost from European markets continue to drive performance. READ MORE
1:15 PM
Top fund houses turn overweight on capital goods amid capex revival signs
With capacity utilization showing improvement, money managers are raising their bets on the capital goods space. According to data collated by Edelweiss, top-five fund houses’ average overweight on capital goods stood at 536 basis points (bps) vis-a-vis Nifty 200. READ MORE
1:00 PM
NSE, SGX joint trading at GIFT likely to take place by December
Amid arbitration proceedings, the proposed collaboration between the Singapore Exchange (SGX) and the National Stock Exchange (NSE) to jointly offer trading at Gujarat International Finance Tec (GIFT) City could take shape before the end of the year, said people with knowledge of the development. GIFT is India’s only International Financial Services Centre (IFSC). READ MORE
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First Published: Aug 21 2018 | 8:15 AM IST
