Sensex, Nifty end at record highs; SBI shares jump 6% in a day; ICICI Bank up 4%
The Sensex ended at 36,984, up 126.41 points, while the broader Nifty50 settled at 11,167, up 35.30 points. In intraday trade, the Sensex touched its fresh high of 37027, while Nifty hit its fresh lifetime high of 11,179.60.
The Sensex and Nifty hit their fresh closing highs on Thursday with the benchmark Sensex crossing 37,000 for the first time ever in intraday trade, led by banks. The Sensex ended at 36,984, up 126.41 points, while the broader Nifty50 settled at 11,167, up 35.30 points. In intraday trade, the Sensex touched its fresh high of 37027, while Nifty hit its fresh lifetime high of 11,179.60. The Nifty PSU Bank index surged 5.45 per cent in its sixth straight session of gains.
15) Vinod Nair, Head of Research, Geojit Financial Services
"Better Q1FY19 results from heavy weights and outperformance of PSU banks coupled with appreciation in rupee supported the main indices to touch another high. Additionally, the prospects of consumption story on the back of reduction in GST rates and good monsoon is restoring investors’ confidence in the market."
14) Sectoral trend at close
13) Markets at close: The Sensex ended at 36,984, up 126.41 points. Nifty closed at 11,167, up 35.30 points. In the broader market, the BSE Midcap and the BSE Smallcap indices added 0.7 per cent and 0.3 per cent, respectively.
Ambuja Cement share price rallied over 7 per cent on Thursday after the cement manufacturer reported a rise of 27.29 per cent in its standalone net profit for the quarter ended June 30, 2018. Reacting to earnings, the stock added as much as 7.63 per cent to Rs 225.50 on the BSE. According to the company, the profit after tax during the quarter under review rose to Rs 499 crore (including dividend from ACC at Rs 141 crore) from Rs 392 crore for the corresponding period of the previous year.
Maruti Suzuki, country's largest carmaker on Friday reported Profit After Tax (PAT) at Rs 1975.3 crore for the June quarter of financial year 2018, missing Zee Business estimates of Rs 2318 crore. Revenues came in at Rs 22,459.5 crore vs Zee Business estimates of Rs 22,462 crore. The auto major had reported PAT at Rs 1,882.1 crore for the fourth quarter ended March 2018. Net sales in Q1 stood at Rs 20,594.3 crore.
The BSE mid-cap and small-cap indices are down by nearly 15-20% in the first half of calendar year 2018. The fall in headline indices is far sober in comparison to many individual stocks. The BSE mid-cap index performed well last year, rising around 47%. The benchmark index for small-cap stocks too rose around 58%. Midcaps have outperformed the Sensex for the past three straight years.
9) Market update
The BSE Sensex hit the 37,000 level for the first time today on widespread buying in capital goods, FMCG, realty and banking stocks amid heavy buying by domestic institutional investors and positive global cues. NSE Nifty too touched a new peak of 11,172.20. Short-covering of bets, today being the last session of July expiry in the derivatives segment, and strengthening rupee against the dollar, kept the overall market sentiment high.
8) Sensex heatmap
7) Market breadth turns positive: Market breadth, indicating the overall health of the market, remaind positive. On the BSE, 1,061 stocks rallied, 585 stocks declined, while 70 stocks remained unchanged.
6) Markets at open: At 9:20 am, the Sensex was trading at 36,978, up 120.07 points, while the broader Nifty50 was ruling at 11,156, up 24.40 points. In the broader market, the BSE Midcap and the BSE Smallcap indices added up to 0.5 per cent.
Hero MotoCorp: The world's largest two-wheeler maker, Hero MotoCorp, posted a lower-than-expected quarterly profit on Wednesday, hit by higher cost of materials. Profit after tax fell slightly to Rs 909 crore ($132.2 million) in the first quarter ended June 30, compared with Rs. 914 crore a year earlier.
11,100 and 27,000 are going to be the deciding levels on Nifty and BankNifty. The small trading range on Nifty stands at 11,075-11,200 and the bigger range lies between 11,025-11,250. In the case of BankNifty, the small trading range will lie between 26,900-27,150, while 26,725-27,350 is going to be the bigger range. Important support zone on Nifty and BankNifty lies at 11,075-11,100 and 26,850-26,950 respectively.
3) Asian markets inch up after Trump, Juncker pledge cuts to trade barriers
Asian stocks edged higher on Thursday, taking comfort from gains on Wall Street after U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to work toward eliminating trade barriers on industrial goods. In a news conference following a meeting between the two leaders on Wednesday, Trump said he and Juncker had agreed to work to lower industrial tariffs on both sides and to increase European imports of liquefied natural gas and soybeans from the United States, among other measures.
2) FAST MONEY: Here are top intraday trading tips
Target: Rs 65
Stoploss: Rs 60
- Annual profit may go up by 240%
- The stock is under physical delivery series
1) Markets on Wednesday
The benchmark indices ended largely steady on Wednesday with the Sensex inching higher to a record close, as investor sentiment stayed positive on bullish global cues. Gains in metal, energy and banking stocks amid sustained buying by domestic and foreign institutional investors contributed to the rally. Covering-up of short positions by participants ahead of July futures and options (F&O) expiry tomorrow also supported the upmove.