LIVE: Nifty above 9,900; RIL’s market-cap crosses Rs 5-lakh crore mark

July 17
15:25 2017

3:21 PM

3:12 PM European markets were trading mmixed as investors reacted to robust economic growth data in China and monitored the second round of formal Brexit talks in Brussels. The pan-European Stoxx 600 moved up 0.2%, Britain’s FTSE 100 was also up 0.3%, but France’s CAC 40 and Germany’s DAX were down 0.2% and 0.4%, respectively.

3:06 PM In the broader market, BSE Midcap was up 0.1%, while BSE Smallcap continued trading flat. 

3:03 PM

2:42 PM All sectoral indices but Nifty FMCG (down 1%) and Nifty PSU Bank (down 0.4%) are trading in green. 

1:55 PM Jubilant Foodworks surged over 4% to Rs 1,215 after the company reported over 25% jump in its standalone net profit in the June quarter of FY18. 

1:33 PM Market Check: At 1:30 pm, S&P BSE Sensex was trading at 32,075, up 55 points while the broader NIfty50 index was ruling at 9,909, up 22 points.

In broader markets, both BSEmidcap nad BSE small cap indices were very little changed.

12:35 PM Reliance Industries hit its fresh 52-week high on Monday, crossing the Rs 5 lakh crore market-capitalisation to become the most valued company on the bourses. Click here for full report

12:20 PM Nifty IT was the  top sectoral gainer, lifted by index heavyweights Wipro (up 3.1%) and Infosys (up 1.3%)

12:16 PM Markets pare some morning gains: At 12:16 pm, the S&P BSE Sensex was trading at 32,070, up 40 points while the broader Nifty50 was ruling at 9,907, up 20 points.

In broader markets, BSE Midcap index was trading in red, soen 0.2% while BSE Smallcap index was little changed

12:02 PM GVK Power & Infrastructure jumped 6.88%, extending Friday’s gains after the company completed the sale of residual 10% stake in Bangalore International Airport. The stock has rallied over 10% post the stake sale.

11:37 AM

GST Council Meet: Cigarettes firms slip on cess hike speculations; ITC down 3%

Click here to read full report

11:15 AM Nifty Bank gains for fourth straight session, ICICI Bank top gainer, up 1.4%

11:10 AM All sectoral indices except Nifty FMCG (down 1.5%) were trading in green. Niftyy IT and Nifty Metals were the top sectoral gainers on the index.

10:50 AM Commodity outlook by NIrmal Bang

10:38 AM Top gainers and losers on BSE Sensex

10:36 AM At 10:35 am, the S&P BSE Sensex was trading at 32,119, up 98 points while the broader Nifty50 index was ruling at 9,916, up 29 points

In broader markets, BSE Midcap was littled changed while BSE Smallcap indices gained 0.2%

10:31 AM Sensex, Nifty hits new high: Sensex gains as much as 108 points to hit new high of 32,128, surpassing previous milestone of 32,109 hit on July 14 while Nifty50 rises as much as 32 points to hit new high of 9,918, surpassing previous milestome of 9,913 hit on July 14

9:50 AM Indraprastha Gas hits fresh 52-week high, up over 3% after Haryana government permited the company to lay, build and operate City Gas Distribution (CGD) network in Gurugram.

9:45 AM Alkem Laboratories gains 2.1% after USFDA cleared its Bioequivalence facility located at Taloja post inspection

9:41 AM China GDP

9:37 AM Shares of Wipro rose over 3% in the early trade on Monday after the third largest IT services firm Wipro on Friday said its board will consider a proposal for buyback of equity shares on July 20.

9:25 AM Karnataka Bank fell 2% even after the lender reported a 10% growth in net profit in April-June quarter compared to the same period last fiscal year.

9:24 AM Geojit Financial Service says: 10k is near, and Nifty is yet to show much giddiness. It is not necessary that a psychological level should turn the trend, but some deal of volatility needs to be priced in. Favoured view expects the trend to continue aiming 10,300, but a pull back below 9,740 could change all that.

9:20 AM Wipro, ONGC, Reliance Industries, ICICI Bank, Infosys and Cipla contributed the most on BSE Sensex while ITS, Axis Bank and Dr Reddy’s shed the most

9:18 AM INTERVIEW OF THE DAY: Our Sensex target for March 2018 is 32,200: Citi India’s Abhinav Khanna CLICK HERE TO READ MORE

9:16 AM ICICI SECURITIES ON FMCG COMPANIES: Post GST rollout, most companies have tweaked their MRPs and restructured trade margins, hence we believe trade disruption will continue even in July FY18, but restocking will resume by end of Q2FY18. We believe consumer companies with strong focus on direct distribution will continue to fare better than those dependent on indirect distribution

9:16 AM

In broader markets, the BSE Midcap and BSE smallcap indices were up 0.3% and 0.4% respectively.

9:15 AM Benchmark indices opened marginally higher with Nifty50 above 9,900 tracking positive Asian peers after Wall Street ended at record high on Friday. 

Sentiment was also lifted as investors awaitied the start of the Monsoon session of Parliament for more reforms after a successfull roll-out of GST.

9:13 AM KOTAK SECURITIES ON CYIENT: Positives are more or less priced in and the stock is fairly valued at ~11.9x FY19E EPS. We maintain REDUCE with revised target price of Rs 521 (Rs 526 earlier)

9:10 AM STOCK RECOMMENDATION: Given structural volume growth visibility (though now deferred beyond FY18), operating leverage benefits and MCX’s entrenched leadership, we assign 36x earnings multiple giving us a fair value of INR1,310 for the stock. Maintain ‘BUY’ — Edelweiss on MCX

9:09 AM Chart check: We continue to maintain our medium term target of 9950 and then 10150 if Nifty manages to hold above 9900 level. On the lower side 9850 and 9820 are crucial support levels: Anand Rathi Research 

9:07 AM 17 companies will report their results for the quarter ended June on Monday which include names like ACC, Hindustan Media Ventures, Jubilant FoodWorks, Prakash Industries, Sharda Motors Industries, Linde India Ltd among others.

9:05 AM Markets trade flat in pre-open trade: Sensex was trading at 32,033, up 12 points while the broader Nifty50 index was ruling at 9,907, up 20 points

9:02 AM Top technical calls from Prabhudas Lilladher:

BUY ACC for an upside target of Rs 1,850 keeping a stop loss of Rs 1,680.

BUY SBI for an upside target of Rs 310 keeping a stop loss of Rs 280.

Click here for full report

8:59 AM 9,600-10,000 levels are strong support and resistance on Nifty: Devang Shah    Click here for more

8:53 AM Oil prices rose 1% boosted as US crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global supply remained strong

8:47 AM

The Dow Jones Industrial Average was up 84.65 points, or 0.39 percent, to 21,637.74, the S&P 500 gained 11.44 points, or 0.47 percent, to 2,459.27, and the Nasdaq Composite added 38.03 points, or 0.61 percent, to 6,312.47.

8:46 AM

8:42 AM At 8:43 am, the Nifty50 futures on the Singapore Stock Exchange were trading 39 points higher at 9,943 indicating a positive opening for the domestic market

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