The Sensex surged nearly 350 points and Nifty closed above its crucial psychological level of 7,650 in trades today on the back of expectations of good monsoon.
For the most part of the day, the Sensex and Nifty traded on a subdued note. But after the government in afternoon said that the monsoon this year is expected to be normal, the stock markets witnessed a sharp rally.
Buying was visible across the sectors. IT, banking and FMCG stocks which witnessed selling in morning trades recovered from intraday lows and the respective indices ended with a gain of 0.7-2 per cent each.
From the Nifty-50 basket of stocks, 46 ended higher while only 4 closed lower.
Idea Cellular was the top Nifty gainer, the stock advanced 6 per cent to Rs 115.20. Bosch, Hindalco, Adani Ports, Bank of Baroda, Bharti Airtel, BHEL and Tata Motors were also among the gainers.
On the other hand, Lupin, Ambuja Cements, Cipla, Dr Reddy’s Labs and UltraTech Cemet were among the notable losers.
3:21 p.m.: Buying visible across the sectors. Oil & gas, realty, capital goods, metal, banking, IT, capital goods and auto indices were up 1-2.2 per cent each.
3:01 p.m.: The stock markets continue the northward journey. The Sensex surged over 350 points to 25,043 and Nifty rose over 115 points to 7,677.
2:56 p.m.: FII buying and expectations of normal monsoons led to a sharp rally in stock markets today, says market expert Ajay Bagga.
2:51 p.m.: The stock markets extended gains in the late noon deals. The Sensex advanced 268 points to 24,942 and Nifty rose 91 points to 7,646.
2:40 p.m.: Just Dial shares surge 7.4 per cent to Rs 817 on the back of heavy volumes. As many as 7.54 lakh shares change hands on the Bombay Stock Exchange compared to average of 3.64 lakh shares traded daily in the past two weeks.
2:36 p.m.: Anil Dhirubhai Ambani group shares were witnessing buying interest. Reliance Infrastructure was the top gainer, up 6.2 per cent to Rs 574. Reliance Power, Reliance Capital and Reliance Communications were also up 2-5 per cent each.
2:33 p.m.: Idea Cellular was the top Nifty gainer, up 5 per cent to Rs 114.25. Hindalco, Bharti Airtel, Adani Ports and SEZ, Bosch, Tata Steel, BHEL, Tata Motors, Bank of Baroda and BPCL were also among the gainers.
2:30 p.m.: Ashoka Buildcon shares surged as much as 10 per cent to Rs 161.80 on Monday after the road construction company said “no incriminating documents have been found” during the income tax raid at its office.
Ashoka Buildcon in a statement to the Bombay Stock Exchange today said that the “proceedings (tax raid) have not impacted any routine operations and working of the company…and as far as the company and officials are concerned, no incriminating documents have been found.”
2:25 p.m.: Shares of Orchid Pharma surged over 13 per cent after the company received an Establishment inspection report (EIR) from the US health regulator based on the successful inspection closure for the API manufacturing facility in Tamil Nadu.
The stock soared 13.29 per cent to Rs 43.90 on BSE.(Read)
2:19 p.m.: The BSE mid-cap index was up 0.8 per cent; Reliance Infra was the top gainer from this space, up 6.2 per cent to Rs 574.50. Reliance Power, Allahabad Bank, Mphasis, Reliance Capital, Havells India, Amara Raja Batteries and UPL were also among the gainers.
1:49 p.m.: Bank of Baroda was the top gainer from the banking space, up 2.3 per cent to Rs 146.40. State Bank of India, Indusind Bank, Yes Bank, Axis Bank, Federal Bank and Canara Bank were also among the gainers.
1:39 p.m.: IT and banking stocks which were facing the heat of selling pressure recovered from intraday low levels. The BSE IT index which fell nearly 1 per cent was up 0.7 per cent and Bank Nifty advanced 0.8 per cent.
1:35 p.m.: The Sensex and Nifty recovered from intraday losses in the noon deals on the back of sharp recovery in banking and IT stocks. The Sensex in a very short span of time rose as much as 140 points to 24,814 and Nifty advanced 50 points to 7,603.
1:24 p.m.: The Sensex turns highly volatile, after falling over 150 points, the Sensex trades 32 points lower and Nifty trades 3 points lower at 7,552.
1:17 p.m.: Jefferies has maintained buy on Yes Bank for target of Rs 1,045 per share. It says focus will turn to quarterly earnings and prefer riding Q4 volatility through Yes Bank. It adds that Yes Bank trades at 2.2 times its one year forward book value. (Click here for more brokerage calls)
1:06 p.m.: The stock markets extended losses in the noon deals. The Sensex fell over 150 points and Nifty hit low of 7,516 on the back of losses in FMCG, pharma, banking and IT stocks.
1:00 p.m.: The market breadth turned neutral as 1,166 stocks were advancing while 1,155 were declining.
12:51 p.m.: The Nifty Pharma index fell 1 per cent; Lupin, Dr Reddy’s Labs, Cipla, Cadila Healthcare and Abbott India were among the losers.
12:46 p.m.: Shares of realty major DLF today climbed over 3 per cent after the company initiated the process to sell promoters’ 40 per cent stake in the rental arm, a deal estimated at Rs 12,000-14,000 crore.
Shares of the firm were trading at Rs 122.40 on BSE, up by 3.33 per cent over the previous close.
12:35 p.m.: HDFC Bank, HDFC, ITC, Mahindra & Mahindra, Lupin, ICICI Bank, Dr Reddy’s Labs and TCS were among the top Sensex movers.
12:26 p.m.: Nifty 7,600 strike price call option was the most active options contract on the National Stock Exchange. The premium on the contract fell 9 per cent to Rs 79. As many as 6.69 lakh shares were added to the open interest of over 4.17 million shares.
12:15 p.m.: Real estate stocks were witnessing buying interest. The BSE realty index was up 1 per cent; Phoenix Mills was the top gainer from this space, up 3 per cent to Rs 314. DLF, Sobha Developers, Prestige Estates, Oberoi Realty, Godrej Properties, Unitech and NBCC were also among the gainers.
12:08 p.m.: SRS Real Infrastructure was the top loser from the small-cap space, down 9 per cent to Rs 15.20. KSK Energy Ventures, Globus Spirits, ABG Shipyard, Sharon Bio-Medicine, Adhunik Industries and Shrenuj & Company were also among the losers.
12:00 p.m.: The stock markets continued to trade with a negative bias. The Sensex was down 54 points at 24,620 and Nifty slipped 12 points to 7,543.
11:35 a.m.: Select banking shares come under selling pressure. The Bank Nifty slipped 0.35 per cent; HDFC Bank, Punjab National Bank, ICICI Bank and Kotak Mahindra Bank were among the losers.
11:28 a.m.: FMCG stocks were witnessing selling pressure. The BSE FMCG index was down nearly 1 per cent; ITC, United Spirits, Nestle India, Godrej Consumer Products, United Breweries and Britannia Industries were among the losers.
11:22 a.m.: Jewellery exporter and retailer Rajesh Exports today said it has won a Rs 1,188-crore export order from the United Arab Emirates.
In a BSE filing, Rajesh Exports said it “has bagged an export order worth Rs 1,188 crore of designer range of gold and diamond-studded jewellery and medallions from the UAE”.(Read)
11:15 a.m.: Market breadth was positive as 1,192 stocks were advancing while 887 were declining.
10:55 a.m.: Buying visible in oil & gas, realty, metal, power, auto and capital goods stocks.
10:48 a.m.: Shares of innerwear makers such as Rupa & Company, Lovable Lingerie and Page Industries were in limelight on Monday in an otherwise dull market.
Rupa & Company’s shares were locked in upper circuit of 20 per cent at Rs 329.40 on the Bombay Stock Exchange after the company announced that its subsidiary Oban Fashions Private Limited acquired the exclusive licence from French Connection Limited to manufacture and market innerwear and related products with the brand name ‘FCUK’ in India.(Read)
10:25 a.m.: Lupin was the top Nifty loser, down 2 per cent to Rs 1,511. Dr Reddy’s Labs, Wipro, HDFC, Cipla, Mahindra & Mahindra, Infosys, ACC, Asian Paints and HDFC Bank were also among the losers.
10:10 a.m.: The stock markets edged lower owing to selling in IT, FMCG and healthcare stocks. The Sensex was down 73 points at 24,600 and Nifty slipped 20 points to 7,534.
9:51 a.m.: IT stocks were among the worst hit in trades so far. The BSE IT index was down 0.66 per cent; Infosys, TCS, Tech Mahindra, Wipro, HCL Technologies, Mindtree, OFSS and Persistent Systems were among the losers.
9:37 a.m.: Reliance Infrastructure was the top gainer from the mid-cap space; the stock advanced 2.13 per cent to Rs 552. Titan, JSW Energy, Pidilite Industries, Reliance Capital, Adani Power, Page Industries, Bajaj Holdings, Divis Labs and Emami were also among the gainers.
9:25 a.m.: The Sensex rose over 100 points and Nifty hit high of 7,580 in the opening deals but soon turned flat on the back of weakness in IT shares.
At 9:20 a.m., the Sensex was up 23 points at 24,697 and Nifty was at 7,563, up 7 points.
From the Nifty-50 basket of shares, 28 were advancing while 22 were declining.
Infosys, Mahindra & Mahindra, Wipro, BPCL, Cipla, Asian Paints, TCS, Tata Steel and HDFC were among the losers, down 0.5-1 per cent each.
On the other hand, Bharti Airtel was the top Nifty gainer, the stock advanced 2.75 per cent to Rs 344 after India’s biggest mobile operator struck Rs 3,500 crore-deal to buy Aircel’s 4G spectrum in eight circles. With this deal, Bharti Airtel completes its pan-India footprint in 4G.
Sun Pharma also advanced 1.3 per cent to Rs 823 after the company received approval from the US Food and Drug Administration (FDA) for its non-steroid drug BromSite used to treat inflammation and prevent pain in patients undergoing cataract surgery.
BHEL, ONGC, Tata Motors, Hindalco, Tata Motors DVR, Adani Ports and Coal India were also among the gainers.
The broader markets were marginally outperforming the benchmark indices. The BSE mid-cap and small-cap indices were up 0.3 per cent each.
7:55 a.m.: The BSE Sensex is likely to open lower on Monday tracking subdued trading across Asian markets. Japan’s Nikkei fell 1.56 per cent, Hong Kong’s Hang Seng declined 0.13 per cent and Taiwan Weighted slipped 0.15 per cent. On the other hand, China’s Shanghai Composite was up 1.6 per cent.
The Nifty futures, traded on Singapore Exchange (SGX Nifty), were down 0.2 per cent or 15 points at 7,566 in early trade.
On Friday, a sharp rally in crude oil and energy shares lifted US stocks, but indexes registered losses for the week. US crude oil settled more than 6 per cent higher after data showed lower stockpiles, driving gains of 2 per cent in the S&P energy index.
The Dow Jones industrial average closed up 35 points, or 0.2 per cent, to 17,576.96, the S&P 500 gained 5.69 points, or 0.28 per cent, to 2,047.6 and the Nasdaq Composite added 2.32 points, or 0.05 per cent, to 4,850.69.
Back home, foreign institutional investors bought shares worth Rs 180 crore, while domestic institutional investors sold shares worth Rs 159 crore on Friday.
Bharti Airtel will be in limelight today after India’s biggest mobile operator struck a Rs 3,500 crore-deal to buy Aircel’s 4G spectrum in eight circles. With this deal, Bharti Airtel completes its pan-India footprint in 4G.
Sun Pharmaceutical Industries will be in focus as the company received approval from the US Food and Drug Administration (FDA) for its non-steroid drug BromSite used to treat inflammation and prevent pain in patients undergoing cataract surgery.