Markets Live: Sensex ends at new high of 38,286; Nifty closes at 11,571

Sensex gainers, losers

Nifty gainers, losers

BSE sectoral indices

Power, healthcare, IT and TECk indices found investors' support, while realty, metal, consumer durables and FMCG succumbed to selling pressure.

NSE sectoral indices

Closing bell

Domestic shares continued their winning run for the third straight session today and hit yet another record closing high on buying in pharma and IT stocks amid optimism over US-China trade talks.

The Sensex ended up 7 points or 0.02 per cent at a new high of 38,285.75 and the Nifty closed higher by 19.15 points or 0.17 per cent at a record high of 11,570.90.

Intraday, the BSE index touched a new high of 38,402.96 surpassing the previous high of 38,340.69 reached yesterday. The NSE index posted intraday record high of 11,581.75, breaking its previous day’s record of 11,565.30.

According to brokers, unabated buying by domestic institutional investors and positive sentiment in world markets helped domestic markets scale fresh highs today. Investors remain optimistic over the outcome of US-China trade talks that will begin on Tuesday.

As per provisional data, domestic institutional investors bought shares worth Rs 593.22 crore, while foreign portfolio investors sold shares worth Rs 483.04 crore yesterday.

Bullion prices

FILE PHOTO: A salesperson attends to a customer (not pictured) inside a jewellery showroom, during Akshaya Tritiya, a major gold-buying festival, in Mumbai, India April 28, 2017. REUTERS/Shailesh Andrade/File Photo

Gold prices shot up Rs 180 to Rs 30,600 per 10 gm at the bullion market on buying by local jewellers to meet the festive season demand and firm global cues. Silver gained Rs 50 to Rs 38,150 per kg on increased offtake by industrial units and coin makers. Read more

Global markets

Critical comments by US President Donald Trump about the country's central bank held back some stocks, while the dollar fell for the fourth consecutive day in its worst spell since March. The pan-European STOXX 600 index rose 0.2 per cent in early trade, with export-led UK stocks underperforming.  Click here to read more

European markets

The pan-European STOXX 600 index was flat in percentage terms by 0723 GMT. Germany's DAX rose 0.2 per cent and Britain's FTSE 100 was also steady ahead of US-China trade talks. Read more

Domestic shares were trading flat as investors remained wary ahead of US-China trade talks that begin on Wednesday. Worries over a trade dispute between the US and China have been a drag on markets, accompanied by escalating rounds of tit-for-tat tariffs.

Global sentiment was also hit as US President, Donald Trump, said he was “not thrilled” with the Federal Reserve for raising interest rates.

Meanwhile, investors looked ahead to the release of the Fed's August meeting minutes on Wednesday and the bank's annual policy symposium at Jackson Hole, Wyoming later this week.

The Sensex was trading up 39.01 points or 0.1 per cent at 38,317.76 and the Nifty up 14.5 points or 0.13 per cent at 11,566.25.

Top five Sensex gainers were Coal India, Wipro, Sun Pharma, Axis Bank and Reliance, while the major losers were Tata Steel, HUL, IndusInd Bank, M&M and Vedanta.

Results round-up

Paint companies have shown solid performance in the recent June quarter, despite an increase in the cost of raw materials. Companies such as Asian Paints and Kansai Nerolac have taken sustained efforts to pass on the higher costs to customers, thus cushioning their margins.  Click here to read more

Rupee outlook

The Indian rupee may get a temporary breather in the near term. A cluster of resistances are poised in between 70 and 70.20. Only a strong break below 70.2 will bring back the pressure on the currency. Immediate resistances are at 69.5 and 69.4, which are likely to be tested as long as the currency remains above 70. Click here to read more

Nalco: Retains its sheen - Buy

Despite protectionist trade policies and trade wars initiated by a few major economies, the global outlook for aluminium and its essential raw material, alumina, is positive. National Aluminium Company is poised to capitalise on the growth demand for these globally. Click here to read more

MCX gold, silver

Tracking a firm global trend, gold prices moved up by 0.17 per cent to Rs 29,547 per 10 grams at the futures trade due to building up of fresh positions by speculators. Read more

L&T: Engineered for success

As a play on the domestic infrastructure theme, led by government spending on key projects, and a revival in capex in segments such as hydrocarbons due to the rise in crude oil prices, engineering conglomerate Larsen & Toubro is in a favourable spot. At ₹1,242, the stock trades at 18 times its likely per share earnings for FY20. This is lower than the three-year average price-earnings multiple of 22. Click here to read more

Sensex gainers, losers

Nifty gainers, losers

Domestic shares were trading flat after hitting record highs earlier in the day due to profit-booking by funds and retail investors ahead of US-China trade talks.

The Sensex was trading up 17.18 points or 0.04 per cent at 38,295.93 and the Nifty up 17.1 points or 0.15 per cent at 11,568.85.

The 30-share BSE index spurted 124.21 points, or 0.32 per cent, to hit a new high of 38,402.96 in early trade, surpassing its previous record of 38,340.69 marked yesterday.

The 50-share NSE Nifty also rose 30 points, or 0.25 per cent, to hit a fresh high of 11,581.785, breaking it previous record of 11,565.30 hit yesterday.

US President Donald Trump’s comments on manipulation of currencies by China and Europe ahead of the resumption of trade talks between US and China weighed on global investor sentiment.

Asian stocks rose, 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.

“Global sentiment is there to some extent... sectors which had not participated earlier are now contributing to Nifty gains,” said Siddhartha Khemka, head of retail research at Motilal Oswal Securities.

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. Click here to read more

Nifty 50 August Futures (11,577)

The contract marked an intra-day low of 11,553 and reversed higher. The near-term outlook remains positive as long as the contract trades above the key support level of 11,550 levels.  Read more

Dilip Buildcon has bagged a metro rail project worth Rs 247.06 crore in Madhya Pradesh. The company shares were trading up 0.11 per cent at Rs 855 on the BSE. Read more

Lupin has received final approval from the United States Food and Drug Administration to market Hydrocortisone Butyrate lotion, used for the treatment of mild atopic dermatitis in patients 3 months of age and older, in the US market. The company shares were trading up 0.21 per cent at Rs 871.65 on the BSE. Read more

FDC shares slump over 8%

Shares of pharmaceutical company FDC Ltd slumped as much as 8.1 per cent to Rs 232, their biggest intraday percentage drop since May 31 on USFDA inspection. Read more

SpiceJet jumps 3%, IndiGo 1.6%

SpiceJet shares jumped as much as 3 per cent, while IndiGo owner InterGlobe Aviation rose as much as 1.6 per cent on strong July passenger data. According to the data released by the Directorate General of Civil Aviation, passengers carried by domestic airlines in July rose 20.8 per cent y/y. Read more

Idea Cellular jumps 3%, Airtel slips 2%

Shares of Bharti Airtel slipped as much as 2 per cent, while rival Idea Cellular rose 3 per cent. According to official figures, India's mobile phone customer base rose 1.4 per cent to 1.15 billion in June from May. Read more

BSE sectoral indices

NSE sectoral indices

Sensex gainers, losers

Nifty gainers, losers

Benchmark indices were trading flat after hitting record highs in opening trade due to profit-booking by funds and retail investors amid weak global cues.

The Sensex was up 7.49 points or 0.02 per cent at 38,286.24 and the Nifty up 7.85 points or 0.07 per cent at 11,559.60.

The S&P BSE index spurted 124.21 points, or 0.32 per cent, to hit a new high of 38,402.96 in early trade, surpassing its previous record of 38,340.69 marked yesterday.

The Nifty50 also rose 30 points, or 0.25 per cent, to hit a fresh high of 11,581.785, breaking it previous record of 11,565.30 hit yesterday.

As per provisional data, domestic institutional investors bought shares worth Rs 593.22 crore, while foreign portfolio investors sold shares worth Rs 483.04 crore.

Dollar slips

The dollar slipped against the yen and a basket of major peers after US President Donald Trump said he was “not thrilled” with Federal Reserve Chairman Jerome Powell for raising interest rates. The dollar fell below the psychologically-significant 110 yen level for the first time since June 28. Read more

Rupee jumps to 69.52

Extending its rising streak for the second day, the rupee appreciated 30 paise against the US dollar to 69.52 owing to dollar selling by banks and exporters and the greenback’s weakness against other currencies overseas. Read more

Silly Monks picks up stake in Chintala Sports

Hyderabad-based digital media entertainment firm, Silly Monks, which was listed on the National Stock Exchange, has acquired a 51 per cent stake in Chintala Sports Pvt Ltd. Read more

Bank Nifty

On the put option chain, the In-The-Money Bank Nifty Put 28,300 option contract saw maximum addition of fresh positions. OI rose sharply by 215.30 per cent. Click here to read more

Apollo Tyres has disclosed to the exchanges that production at the company’s plants located at Perambra and Kalamassery, Kerala, have been disrupted due to floods in the State. The company shares were trading up 0.27 per cent at Rs 262.40 on the BSE. Read more

Benchmark indices were trading flat due to profit-booking by funds and retail investors amid weak global cues. The Sensex was trading up 33.77 points or 0.09 per cent at 38,312.52 and the Nifty up 16.1 points or 0.14 per cent at 11,567.85.

Asian stocks were capped and the dollar dipped after US President Donald Trump accused China and Europe of manipulating their currencies and said he was “not thrilled” with the Federal Reserve for hiking interest rates.

40 stocks to turn ex-dividend

About 40 companies will turn ex-dividend on Thursday. Investors wishing to receive the payouts need to buy these companies’ shares by Tuesday. Read more

What to watch

HDFC Asset Management

HDFC Asset Management Co , Motilal Oswal Financial and Orchid Pharma, will declare their results today. Read more

Indian Hume Pipe gets new order

Shares of Indian Hume Pipe Company were trading up by   1.01 per cent at Rs 289.30 on the BSE as the company has received a work order of ₹256.19 crore from the Tamil Nadu Water Supply & Drainage Board, Coimbatore.  Read more

Asian markets

Asian stocks were capped and the dollar dipped as US President Donald Trump accused China and Europe of manipulating their currencies and said he was “not thrilled” with the Federal Reserve for hiking interest rates. Click here to read more

Dangee Dums plans IPO

Dangee Dums is planning to raise ₹20.07 crore through an initial public offering in the SME category. The issue, to be open during August 20-24, will result in the company’s shares being listed on the NSE Emerge platform. Read more

Navneet Education board okay buyback

The board of Navneet Education has approved the buyback of up to 46.875 lakh equity shares, representing up to 2.01 per cent of the total number of equity shares of the company at ₹160 a share, aggregating to ₹75 crore. Read more

Day Trading Guide

₹2097 • HDFC Bank

₹1385 • Infosys

₹313 • ITC

₹168 • ONGC

₹1234 • Reliance Ind.

₹307 • SBI

₹2010 • TCS

11578 • Nifty 50 Futures

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Click here to read more

The BSE index Sensex opened higher by 75.09 points at 38,353.84 against the previous close of 35,278.75 and the 50-share NSE index Nifty up 24.45 points at 11,576.20 against 11,551.75.

Today's stock pick

Datamatics Global Services (₹122.8): Buy

Investors with a short-term perspective can buy the stock of Datamatics Global Services at current levels. Following a sideways consolidation in the range between ₹96 and ₹111 for about two-and-a-half months, the stock has decisively broke out of this range on Monday, by gaining 6.9 per cent. Read more

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