Markets Live: Sensex spurts 331 points to end at new high of 38,279; Nifty closes at 11,552

Closing bell

The Sensex surged 330.87 points or 0.87 per cent to end at a new high of 38,278.75 and the Nifty jumped 81 points or 0.71 per cent to a record closing high of 11,551.75. Intraday, the BSE index touched 38,340.69 and the NSE index hit 11,563.80.

Sensex gainers, losers

Heavy buying in capital goods, metal, infrastructure and oil & gas stocks boosted the domestic sentiment. On the other hand, IT, TECk and consumer durables succumbed to selling pressure.

As per provisional data, domestic institutional investors bought shares worth Rs 151.89 crore, while foreign portfolio investors bought shares worth Rs 147.31 crore on Friday.

Global markets

The gains in Europe helped lift the MSCI All-Country World index, which tracks shares in 47 countries, by 0.3 per cent. The gauge has nearly recouped the losses from last week caused by the plunge in Turkey's currency. Click here to read more

European markets

Hopes that the United States and China might find a compromise to resolve their trade dispute lifted European shares, while Turkey's currency crisis showed no immediate sign of worsening. At 0835 GMT, the pan-European STOXX 600 was up 0.7 per cent at 383.7 points. Read more

Bullion prices

Gold prices recovered by Rs 170 to Rs 30,420 per 10 grams at the bullion market on the back of a firm global trend amid fresh buying by local jewellers. Silver edged higher by Rs 100 to Rs 38,100 per kg due to increased offtake from industrial units and coin makers. Read more

Sensex gainers, losers

Sensex movers, shakers

The S&P BSE index surged 353.94 points or 0.93 per cent to 38,301.92 and the Nifty50 climbed 85.4 points or 0.74 per cent to 11,556.15 on heavy buying in capital goods, metal, infrastructure and oil & gas stocks amid firm global cues.

L&T shares rallied as much as 7.3 per cent to Rs 1,331 as the company plans to consider a share buyback proposal at its board meeting on August 23.

Top five Sensex gainers were L&T, Tata Motors, ONGC, Vedanta and Tata Steel, while the major losers were Infosys, ICICI Bank, Axis Bank, Maruti and HUL.

Infosys shares slumped over 4 per cent to Rs 1,373.55 as the board had accepted the resignation of the company's CFO, M D Ranganath.

RIL shares hit record high

Shares of Reliance Industries Ltd jumped as much as 2.55 per cent to Rs 1,234.50, their highest ever, as a media report said Alibaba Group Holding Ltd may invest at least $5 billion in Reliance Retail to form a joint venture. Read more

BSE to delist 17 companies

The companies are -- Associated Marmo & Granites, Baroda Electric Meters, Bihar Air Products, Cana Glass, Graphic Charts, IAG Company, Kiev Finance, Mahavir Impex, Neelkanth Motels & Hotels, Prithvi Information Solutions, Realtime Finlease and Sibar Media & Entertainment.

Besides, Sudar Industries, Valuemart Retail Solutions, Graham Firth Steel Products India, Spartek Ceramics India and Yule Financing & Leasing Company will also be delisted. Read more

Top gainers, losers

Construction major L&T jumped 6.4 percent in its biggest daily percentage gain in over two years as the company plans to consider a proposal for share buyback on August 23.

The Nifty infrastructure index rose as much as 2.4 percent, driven by L&T. Market heavyweights Reliance Industries and HDFC Bank were among top contributors to the NSE index, with both trading over 1.5 per cent higher.

Infosys Ltd shares fell over 4 per cent as the board had accepted the resignation of chief financial officer M.D. Ranganath on Saturday.

Domestic shares jumped nearly one per cent in the mid-session trade on heavy buying in capital goods, metal, oil & gas and infrastructure stocks amid firm global cues. Only IT, TECk and consumer durables succumbed to selling pressure.

The S&P BSE Sensex surged 352.57 points or 0.93 per cent to 38,300.45 and the Nifty50 climbed 82.8 points or 0.72 per cent to 11,553.55. Intraday, the Sensex hit a new high of 38,321.95 and the Nifty touched 11,562.05.

Sentiment picked up across Asia as investors awaited developments on proposed Sino-US trade talks and the yuan rallied from alarming lows. Investors were also encouraged by news China and the US will hold lower-level trade talks this month, offering hopes of resolving an escalating tariff war.

“Markets have been on a bit of a bull run. I don't see any clouds on the horizon right now... Today there is a bit of global overhang,” said Jayant Manglik, president - retail distribution, Religare Broking.

Nifty 50 August Futures (11,573)

Traders with a near-term perspective can buy the contract in dips with a fixed stop-loss. Key supports are at 11,550 and 11,520. Next key supports below 11,520 are placed at 11,500 and 11,475 levels. Click here to read more

Page Industries hits 52-week high

Shares of Page Industries rose 3 per cent to its 52-week high of Rs 35,049.90. The company shares opened on a bullish note at Rs 34,144, then gained further ground and touched its 52-week high of Rs 35,049.90, up 2.95 per cent over their previous closing price. Read more

Sun Pharma: Consider bull-call spread strategy

The short-term outlook has turned positive for Sun Pharmaceutical Industries (₹623.50), which has been making consistent recovery after it touched a low of ₹435 in May. The stock finds an immediate support at ₹580 and a crucial one at ₹499. A close below the latter will re-confirm the bearish trend on Sun Pharma.

Reliance Capital pauses at a key barrier

The stock of Reliance Capital had encountered a significant long-term resistance at ₹780 in September 2017 and changed direction. Since then, it has been in an intermediate-term downtrend. However, after recording a 52-week low at ₹334 in mid-July this year, the stock halted its downtrend and reversed upwards. Click here to read more

Brent crude dips to $72

Oil prices dipped as concerns over slowing economic growth weighed on markets. Brent crude oil futures were at $71.78 per barrel, down 5 cents from their last close. WTI crude futures were down 4 cents, at $65.87 per barrel. Read more

Worrying signs on forex reserves front

American 10 dollars greenback rolled up on the black.

The Centre’s response to the recent bout of weakness in the rupee has been surprisingly nonchalant. While the RBI was mum, the Finance Minister decided to talk up the rupee by tweeting that India’s foreign exchange reserves are comfortable, going by global standards and sufficient to mitigate any undue volatility in the foreign exchange market. Click here to read more

Strong US dollar to continue to weigh on rupee

The strong US dollar is expected to further weigh on the Indian rupee, which hit a low past the 70-mark against the greenback in recent foreign exchange movements, according to Singapore’s DBS Bank Group. Click here to read more

Sovereign credit risk from rupee decline limited

Global rating agency Fitch says strong external finance is likely to limit the impact of rupee weakening against the US dollar on the country’s sovereign rating profile. This report has come at a time when the rupee breached the 70 level against US dollar last week. Read more

Addicted to trading? You may have to reveal your financial sources

A 22-member committee headed by TK Viswanathan, ex-Secretary General, Lok Sabha, and ex-Law Secretary, has recently submitted its report to SEBI. The committee was mandated to review the existing legal framework to deal with market abuse to ensure fair market conduct in the securities market and to review the surveillance, investigation and enforcement mechanisms being undertaken by SEBI to make laws more effective in protecting market integrity and investor interest. Click here to read more

The S&P BSE Sensex was trading higher by 299.14 points or 0.79 per cent at 38,247.02 and the Nifty50 up 71.3 points or 0.62 per cent at 11,542.05 on heavy buying in capital goods, infrastructure, metal and oil & gas stocks. Only IT and TECk stocks succumbed to selling pressure.

According to brokers, fresh inflows by foreign funds, persistent buying by domestic institutional investors and strengthening of rupee boosted the domestic sentiment.

Top five Sensex gainers were L&T, Tata Motors, ONGC, Asian Paints and HDFC, while the major losers were Infosys, Maruti, PowerGrid, Bharti Airtel and ICICI Bank.

Intraday, the Sensex hit all-time high of 38,266.95 and the Nifty scaled record peak of 11,544.40.

Most Asian share markets crept cautiously higher as investors awaited developments on the proposed Sino-US trade talks and the Chinese yuan rallied away from alarming lows.

Spreadbetters pointed to a mildly positive start for European shares with FTSE futures up 0.1 per cent. Eurostoxx 50 futures opened 0.3 per cent higher.

L&T stocks spurt 6.4%

Larsen & Toubro shares jumped as much as 6.4 per cent to Rs 1,319.65, their biggest daily percentage gain since October 2017, on share buyback proposal. In terms of equity volume, 7.27 lakh shares exchanged hands in the morning trade. Read more

Infosys slumps over 4%

Shares of India's second largest software services exporter, Infosys Ltd, fell as much as 4.03 per cent to Rs 1,373.5, their biggest percentage loss since July 5. After opening weak at Rs 1,388.70 against the previous close of Rs 1,431.35, the stock touched intraday high of Rs 1,408 and a low of Rs 1,373.55. Read more

Spot gold up at $1,185

Gold prices inched higher as hopes of easing trade tensions between the United States and China put pressure on the dollar, adding to demand for the yellow metal that improved last week after the prices touched 19-month lows. Spot gold rose 0.1 per cent to $1,185.31 an ounce at 0245 GMT. Click here to read more

Rupee rebound to 69.76

The rupee recovered from its all-time low by rising 39 paise to 69.76 against the US dollar on fresh selling of the greenback by exporters and banks ahead of US-China trade talks this week. Read more

Nikkei falls 0.2%

Japan's Nikkei fell as chip-related stocks weakened, tracking their US peers's declines on Friday, while investors awaited developments from trade talks scheduled between the United States and China this week.The Nikkei share average dropped 0.2 per cent to 22,230.46 at the midday break. Read more

FPIs infuse Rs 7,577 crore

Foreign investors have pumped in Rs 7,577 crore into the Indian capital markets so far this month due to better corporate earnings coupled with improvement in crude oil prices. Click here to read more

How the markets will react this week

13/05/2011 MUMBAI:A street signal in the foreground of the Bombay Stock Exchange's (BSE) Jeejeebhoy Towers on Dalal Street seems to reflect the mood of the stock markets as the BSE sensex went up by 247 points in Mumbai on May 13, 2011. Photo: Paul Noronha

Trade talks between China and the US, movement of Turkish lira and rupee would take centre stage this week and dictate the trend in the equity markets. Also, Federal Open Market Committee minutes on Wednesday will be watched. Click here to read more

M-cap of top-10 Sensex cos

Four out of the top-10 valued Indian firms together added Rs 34,982.23 crore to their market valuation last week, with ITC emerging as the biggest gainer.  ITC’s valuation zoomed Rs 11,062.56 crore to Rs 3,83,522.35 crore. Click here to read more

Markets finally find support from good quarterly performance

Mustafa Nadeem, CEO, Epic Research, says that the Indian markets may continue to be in a secular bullish trend given ample liquidity, positive domestic cues (double-digit earnings, volume growth, improved margins) and rebound in mid- and small-cap stocks for the last few weeks. Click here to read more

The S&P BSE Sensex surged 268.29 points to an all-time high of 38,206.72 against the previous close of 37,947.88 and the Nifty50 climbed 67.3 points to scale a new peak of 11,538.05 against 11,470.75.

Heavy buying in capital goods, infrastructure, metal and oil & gas stocks boosted the domestic sentiment. 

Top five Sensex gainers were L&T, ONGC, YES Bank, Coal India and Tata Motors, while the major losers were Infosys, Bharti Airtel, ITC, TCS and Axis Bank.

Asian share markets crept cautiously higher as investors awaited developments on the proposed Sino-US trade talks and the Chinese yuan rallied away from dangerous lows. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent, while Shanghai blue chips firmed 0.2 per cent.

Weekly trading guide

SBI (₹302)

SBI opened the week on a negative note with a wide gap-down at ₹296 and fell to a low of ₹290.5 on Thursday. However, the stock reversed sharply higher on Friday, recovering most of the loss. The bullish outlook is intact. A near-term support is at ₹298.

ITC (₹313.7)

ITC snapped its two-week sideways consolidation last week. The stock has surged, breaking above a key resistance level of ₹308 and has closed 3 per cent higher for the week. The rally in the past week has strengthened the uptrend. The region between ₹310 and ₹308 will now act as a strong near-term support.

Infosys (₹1,431.3)

Infosys surged over 3 per cent last week. This brings the three-week sideways consolidation move, between ₹1,335 and ₹1,390, to an end. Though the overall uptrend is intact, crucial resistances are ahead. Key long-term trend line resistances are at ₹1,450 and ₹1,470.

RIL (₹1,203.4)

RIL was stuck in a narrow range between ₹1,183 and ₹1,216 last week. The near-term outlook is mixed. A break-out on either side of the immediate support at ₹1,180 or resistance at ₹1,225 will decide the next move.

Tata Steel (₹580.6)

Tata Steel was broadly range-bound and closed marginally higher last week. The support at ₹565 is holding well. An up-move to test the key ₹595-₹600 resistance region is likely in the near term.

'10% growth estimate under UPA is not official data'

The Narendra Modi-led government has clarified that the back series GDP estimates made public recently, which appeared to show that the economic growth exceeded 10 per cent under the erstwhile UPA government, are ‘not official'. It also said that these estimates are meant only to facilitate taking a decision for an appropriate approach in dealing with the economy. Click here to read more

The S&P BSE Sensex opened higher by 107.65 points at 38,055.53 against the previous close of 37,947.88 and the Nifty50 up 40.85 points at 11,511.60 against Friday's close of 11,470.75.

Index Outlook

Trade talks between US and China can lend direction to the global markets in the coming truncated week. The Federal Reserve will release the minutes of its August monetary policy meeting this week. A rebound in the rupee from the ebb could also aid the markets. Traders can remain cautious in the ensuing week as the indices hover at key resistance area. Click here to read more

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