The Sensex and Nifty opened at fresh high on Monday thanks to gains in index heavyweights such as ICICI Bank, State Bank of India and Reliance Industries. The gains came even as Asian markets drifted lower while currencies kept to familiar ranges ahead of a busy week peppered with central bank meetings, corporate results and updates on US inflation and payrolls.

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At 9:20 am, the Sensex was trading at 37,423, up 86.52 points, while the broader Nifty50 was ruling at 11,295, up 16.90 points.

Overseas, technology and energy shares led Japan's Nikkei down 0.4 per cent in early trade, while tech also featured in South Korea's 0.2 per cent decline. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.03 per cent.

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7) W, Aurelia, Wishful brands fail to charm D-Street; TCNS Clothing tanks 6% on debut

Women's apparel maker TCNS Clothing made a flat debut on Dalal Street by listing 0.14 per cent below its issue price of Rs 716. The stock listed at Rs 715 on the BSE.  The stock slipped as much as 6 per cent to Rs 672.90 on the BSE against its issue price. The company recently concluded its initial public offer. The Rs 1,125-crore public offer was open during July 18-20 and was subscribed over 5 times. Price band for the offer was set at Rs 714-716 per share. The public offer was of 1,57,14,038 shares, including anchor portion of 47,14,210 shares.

6) Market breadth

Market breadth, indicating the overall health of the market, remained positive. On the BSE, 798 stocks rallied, 392 stocks declined, while 49 stocks remained unchanged. 

5) Markets at open

At 9:20 am, the Sensex was trading at 37,423, up 86.52 points, while the broader Nifty50 was ruling at 11,295, up 16.90 points. In the broader market, the BSE Smallcap added 0.3 per cent, while the BSE Midcap remained unchanged.

4) Reliance Industries, ICICI Bank among top stocks in focus today

Reliance Industries: Reliance Industries on Friday reported a record Rs 9,459-crore net profit in April-June, up 18% from Rs 8,021 crore in the same period a year ago, on the back of near doubling of earnings from petrochemical business. Revenue was up 56.5% at Rs 141,699 crore. Reliance Jio's standalone net profit increased 19.9% to Rs 612 crore for the three-month period ended on June 30, as against the preceding quarter. 

3) FAST MONEY: Here are top intraday trading ideas

CG Power  

Target: Rs 70 
Stoploss: Rs 61 

  • The company may report profit worth Rs 63 crore vs losses in the previous quarter
  • To receive Rs 300 crore by selling Hungary business; debt will reduce by 15%

2) Asian markets cautious ahead of central bank, data fest

Asian share markets drifted lower on Monday while currencies kept to familiar ranges ahead of a busy week peppered with central bank meetings, corporate results and updates on US inflation and payrolls. Technology and energy shares led Japan's Nikkei .N225 down 0.4 percent in early trade, while tech also featured in South Korea's 0.2 per cent decline. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.03 percent. The week ahead features quarterly earnings from more than 140 S&P 500 companies, including Apple Inc.

1) Markets on Monday

The Sensex and Nifty jumped to record closing highs on Friday, driven by gains in heavyweight ITC on the back of strong quarterly results, while banks extended rally after lenders lined up to enrol for a scheme for faster bad-loan resolution.

The Sensex closed up 0.95 per cent at 37,336.85 after hitting a record high for a fourth straight session, the broader Nifty ended 0.99 per cent higher at 11,278.35 after hitting an all-time high of 11,283.40. In the broader market, the BSE Midcap and the BSE Smallcap indices added 0.9 per cent each.