Sensex today: RIL investors richer by 4%, stock top gainer; index settles 166 points higher
Sensex today: The benchmark indices traded strong on Tuesday thanks to smart gains in index heavyweights Reliance Industries and YES Bank, which rallied 3 per cent each. Positive trade in European markets also contributed to the gains. The Sensex ended at 34,616, up 165.87 points, while the broader Nifty50 closed at 10,614, up 29.65 points.
In the broader market, the BSE Midcap remained unchanged, while BSE Smallcap indices gained 0.1 per cent. Market breadth, indicating the overall health of the market turned negative. On the BSE, 1,483 stocks declined, 1,188 stocks rallied, while 146 stocks remained unchanged.
Overseas, World stocks steadied on Tuesday after three sessions of losses thanks to strong earnings from the likes of Google and as a rise in US bond yields towards the key 3 per cent level stalled, while oil prices stretched to fresh highs above $75 a barrel.
European stocks opened broadly higher with blue-chip stock markets in London and Frankfurt 0.3 per cent higher, while shares in Paris were flat.
Markets brushed off further signs that Europe’s biggest economy Germany is losing some of its momentum, with the Ifo business climate index falling in April.
In Asia, Japan's Nikkei added 0.9 per cent as a lower yen supported export-heavy firms and Chinese shares posted their strongest gains in two months.
That left MSCI’s world equity index marginally higher on the day after three days of declines.
On Monday, The Sensex ended at 34,450, up 35.19 points, while the broader Nifty50 closed at 10,584, up 20.65 points.
Provisional data with the exchanges showed that foreign institutional investors sold scrip worth Rs 259.08 crore, while the domestic institutional investors purchased stocks worth Rs 387.26 crore.
Sensex today: The benchmark indices traded strong on Tuesday thanks to smart gains in index heavyweights Reliance Industries and YES Bank, which rallied 3 per cent each. Positive trade in European markets also contributed to the gains. The Sensex ended at 34,616, up 165.87 points, while the broader Nifty50 closed at 10,614, up 29.65 points.
In the broader market, the BSE Midcap remained unchanged, while BSE Smallcap indices gained 0.1 per cent. Market breadth, indicating the overall health of the market turned negative. On the BSE, 1,483 stocks declined, 1,188 stocks rallied, while 146 stocks remained unchanged.
Overseas, World stocks steadied on Tuesday after three sessions of losses thanks to strong earnings from the likes of Google and as a rise in US bond yields towards the key 3 per cent level stalled, while oil prices stretched to fresh highs above $75 a barrel.
European stocks opened broadly higher with blue-chip stock markets in London and Frankfurt 0.3 per cent higher, while shares in Paris were flat.
Markets brushed off further signs that Europe’s biggest economy Germany is losing some of its momentum, with the Ifo business climate index falling in April.
In Asia, Japan's Nikkei added 0.9 per cent as a lower yen supported export-heavy firms and Chinese shares posted their strongest gains in two months.
That left MSCI’s world equity index marginally higher on the day after three days of declines.
On Monday, The Sensex ended at 34,450, up 35.19 points, while the broader Nifty50 closed at 10,584, up 20.65 points.
Provisional data with the exchanges showed that foreign institutional investors sold scrip worth Rs 259.08 crore, while the domestic institutional investors purchased stocks worth Rs 387.26 crore.
Latest Updates
Sectoral Trend at Close
Source: NSE
316% profit growth in a year! This Rakesh Jhunjhunwala-favoured casino play soars; should you buy?
One of Rakesh Jhunjhunwala's favourite stocks has just reported a staggering 316 per cent year-on-year growth for the March quarter of financial year 2017-18, reacting to which the stock of this casino play rallied nearly 6 per cent on the BSE. The stock is none other than Delta Corp, which has been a multibagger stock, multiplying investor wealth by three times in last five years.
Markets at Close
The Sensex ended at 34,616, up 165.87 points, while the broader Nifty50 closed at 10,614, up 29.65 points.
TCS drops below $100 bln market cap
Tata Consultancy Services slipped 1 per cent to Rs 3,369.8 with company's market capitalisation staying below the $100 billion hit on Monday. TCS became the first Indian technology co to enter the elite league, powered by record quarterly profit and weaker rupee.
Energy-to-telecom conglomerate Reliance Industries could possibly be the next Indian firm to hit the $100 bln mark, provided it gains about 12 per cent from Monday’s close of Rs 936. Reliance shares rose nearly 2 per cent to Rs 958.50.
TCS has risen about 26 per cent this year, while Reliance Industries has gained only 1.6 per cent this year until Monday.
Rakesh Jhunjhunwala-backed Nazara Technologies gets Sebi nod to float IPO
Rakesh Jhunjhunwala-backed Mobile gaming company Nazara Technologies, which is popularly known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series, has received markets regulator Sebi's go-ahead to float an initial public offering. Nazara, which filed draft papers with Sebi to launch an IPO on February 1, obtained its "observations" on April 20, as per the latest update with the market regulator.
Sebi's observations are necessary for any company to launch public issue like initial public offer (IPO), follow-on public offer (FPO) and rights issue, said PTI.
Top gainers
YES Bank (up 3 per cent), Reliance Industries (up 2 per cent), Adani Ports (up 1.5 per cent) and ICICI Bank (up 1.4 per cent) were the top gainers on Sensex.
Sensex Heatmap at Open
Source: BSE
Market Breadth
Market breadth, indicating the overall health of the market turned positive. On the BSE, 696 stocks rallied, 386 stocks declined, while 45 stocks remained unchanged.
Markets at Open
At 9:18 am, the Sensex was trading at 34,574, up 123.59 points, while the broader Nifty50 was ruling at 10,600, up 15.40 points.
Nifty outlook by Angel Broking
Until last half an hour, things were looking extremely bright and index did not show any sign of weakness. But, as always market surprises us, the index saw some corrective moves precisely after nearing the stiff hurdle of 10640. This is what we have been mentioning since last few days and the level has clearly proved its significance. Going ahead, traders needs to keep a close eye whether Nifty is able to surpass this level or not? In case of another unsuccessful attempt, we could see selling intensified in the market. On the downside, 10495 remain to be a key support. A sustainable move below this level would apply immediate brakes on the recent relief rally. Till then the index may continue gyrating within a range of 10,495-10,640.
Stocks in News
- GNFC: 4Q net income 3.3b rupees vs 2.4b year ago; Co. to pay 7.5 rupees/share as dividend
- Indiabulls Ventures: 4Q profit 610.1m rupees vs 540.6m year ago
- LIC Housing Finance: 4Q net income 5.39b rupees, Beats est. 5.25b; Co. to pay 6.80 rupees/share as dividend
- Reliance Infra: 4Q group profit 1.6b rupees vs 409.2m year ago; Co. to pay 9.5 rupees/share as dividend
Rupee at Open
Rupee opens strong at 66.42 per dollar against Monday’s close of 66.48 per dollar
The benchmark indices pared some gains to settle flat on Monday after investors booked profits in index heavyweight Tata Consultancy Services (TCS), which hit a record high, becoming India's first company in a decade to cross the $100 billion mark. The Sensex ended at 34,450, up 35.19 points, while the broader Nifty50 closed at 10,584, up 20.65 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices soared 0.5 per cent each. Market breadth, indicating the overall health of the market turned positive. On the BSE, 1,391 stocks rallied, 1,293 stocks declined, while 163 stocks remained unchanged.
TCS shares gained as much as 4.6 per cent to hit a record high of 3,557.90 rupees in intraday trade. The stock settled flat at Rs 3407. Strong results from the company and Infosys, coupled with a weakening of the rupee, have led to buying in the sector. The Nifty IT index gained as much as 2 per cent to touch a record high in intraday trade.
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