Sensex, Nifty settle at record closing highs; Nifty Bank ends above 25,000
All that happened in Monday's trade
 "MARKETS LIVE: Sensex extends gains, Nifty nears 10,050 ahead of RBI meet")
The markets ended at fresh closing highs on Monday after the country's biggest lender, State Bank of India, rallied as it introduced a 2-tier savings bank interest rate, while investors awaited a rate cut by the Reserve Bank of India in its two-day policy meeting which begins on Tuesday.
Economists are divided on what action the RBI will take in its policy review that concludes on Wednesday. Of the 14 economists polled by Business Standard, five said there would be the status quo this time. In most cases where the economists said there would be a cut, they warned it was a close call. CLICK HERE FOR FULL REPORT
Meanwhile, the retail inflation rate is running well below RBI's target. It had eased to its slowest pace in over five years in June.
4:06 PM
Vinod Nair, Head of Research, Geojit Financial Services
Good results from index heavyweights continue to add liquidity, while country’s largest PSU bank SBI's interest rate cut decision attracted investors to the banking stocks on expectations of more peers to follow the trend. Additionally, moderation in inflation to below RBI's target of 4% heightened the hopes of rate cut in the next monetary policy.
4:04 PM
Q1 Earnings
Tech Mahindra reported 34.3% sequential growth in its consolidated net profit at Rs 791.8 crore against 589.7 crore reported in the same quarter of the previous fiscal year. The IT major's revenue growth in CC terms rose 2.1% to Rs 7336.1 crore, while dollar revenue growth came in at $1138 million, up 0.6% QoQ.
3:57 PM
HEATMAP: Top Sensex gainers and losers
Source: BSE
3:48 PM
Market breadth turns negative
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,425 shares fell and 1,255 shares rose. A total of 196 shares were unchanged.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,425 shares fell and 1,255 shares rose. A total of 196 shares were unchanged.
3:46 PM
Broader markets trail behind
The BSE Midcap index added 0.3%, while the BSE Smallcap gained 0.1% at close.
3:44 PM
Nifty PSU Bank (up 3.6%) was the leading sectoral gainer, led by gains in SBI (up 4.5%), Bank of Baroda (up 2.9%) and Punjab National Bank (up 2.4%).
3:42 PM
Nifty Bank ends above 25,000 for first time ever
Source: NSE
3:37 PM
Markets end at record highs
The Sensex settled above 32,500 for the first time ever, while Nifty ended firmly above 10,050. At close, the Sensex quoted 32,514, up 205 points, while the Nifty50 was at 10,070, up 62 points.
3:31 PM
Pharma index top sectoral loser; Lupin hits 52-week low
Shares of pharmaceutical companies continued to trade under pressure with Nifty Pharma index down more than 1% for the third straight trading sessions after firms reported a disappointing set of numbers for the quarter ended June 2017 (Q1FY18). CLICK HERE FOR MORE
3:25 PM
Nifty Bank continues to trade above 25,000
The index is set for record closing high. SBI, Bank of Baroda, ICICI Bank top gainers.
The index is set for record closing high. SBI, Bank of Baroda, ICICI Bank top gainers.
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First Published: Jul 31 2017 | 3:33 PM IST