Sensex, Nifty snap 4-day record-breaking run; newly-listed stocks crack up to 13%
The market appears to have the momentum to continue the bull run a little longer even though stock valuations have become skewed. Will tepid earnings from TCS prove a drag? Watch this space as we bring you all the action in a live blog from Dalal Street.
1 New Update
05:06:42 PM IST, 14 July 2017
CLOSING BELL
The domestic equity indices ended a four-day winning run to come off lifetime highs on Friday, as selling in IT stocks accelerated after muted Q1 earnings numbers by local software giants, Infosys and TCS, failed to enthuse investors.
02:50:58 PM IST, 14 July 2017
NEWLY-LISTED STOCKS CRACK UPTO 11%
Shares of Au Small Finance Bank (down 10.50 per cent), Hudco (down 8.9 per cent), Central Depository Services (India) (down 7.83 per cent), Avenue Supermarts (down 3 per cent) cracked up to 11 per cent on BSE in Friday's trade as the market turned cautious after a steep rally in these counters.
02:45:18 PM IST, 14 July 2017
SC ACCEPTS VIKRAM LIMAYE'S RESIGNATION FROM COMMITTEE OF ADMINISTRATORS.
02:08:42 PM IST, 14 July 2017
KOTAK INSTITUTIONAL RETAINS 'ADD' RATING ON BAJAJ CORP
Kotak Institutional Equities maintains 'add' rating on Bajaj Corp despite weak June quarter result citing potential revival in volumes and inexpensive valuation. The brokerage has raised target price on the stock to Rs 460 from Rs 430 as it has rolled forward valuation to June 2019. At 2.08 pm, the stock was trading 1.54 per cent lower at Rs 399.05.
02:06:00 PM IST, 14 July 2017
RBI NOMINATES SUBHASH CHANDRA GARG ON RBI CENTRAL BOARD
01:24:08 PM IST, 14 July 2017
PSU BANKS RECOVER POST WPI DATA
Nifty Bank, which was trading in red in morning deals, turned positive after data on Friday showed that lower inflation in food articles, manufacturing and fuel cooled India's wholesale inflation to 0.9 per cent in June from 2.17 per cent in May.
12:54:31 PM IST, 14 July 2017
AUSTRALIA SHARES END HIGH
Australian shares ended higher on Friday and posted their best weekly performance in a month, as financials tracked Wall Street counterparts higher ahead of big US banks earnings. The S&P/ASX 200 index finished 0.5 per cent, or 28.33 points, higher at 5,765.10.
12:15:03 PM IST, 14 July 2017
MONNET ISPAT FALLS AS SBI REFUSES JSW STEEL STAKE BUY
Shares of debt-ladden Monnet Ispat and Energy fell over 3 per cent in Friday's trade after SBI (which heads the consortium of lenders) informed the Mumbai bench of the National Company Law Tribunal (NCLT) that it is not in favour of JSW Steel's proposal to buy a controlling stake in the company.
12:00:56 PM IST, 14 July 2017
BHUSHAN STEEL FALLS AS NCLT HEARS CO'S BANKRUPTCY PETITIONS
Shares of Bhushan Steel fell over 2 per cent in Friday's trade after National Company Law Tribunal (NCLT) heard the bankruptcy petitions by lenders against the company, and Bhushan Power and Steel, and decided to give four more days to the company to formulate a reply.
11:32:55 AM IST, 14 July 2017
TCS DROPS 3% POST POOR Q1 SHOW; ANALYSTS TURN CAUTIOUS
Shares of TCS dropped nearly 3 per cent in Friday's trade after many brokerages turned cautious over firm's prospects following the lower-than-expected June quarter results. The stock fell 2.78 per cent to hit a low of Rs 2,376.10 on BSE.
10:55:29 AM IST, 14 July 2017
STOCKS THAT HIT 52-WEEK LOW TODAY
Nearly 15 stocks, including FCS Software Solutions, High Ground Enterprise, KSS, LCC Infotech, Lanco Infratech, Rei Agro and Spacenet Enterprises hit their fresh 52-week low on NSE in Friday's early trade as markets, after a positive start, turned cautious.
10:40:14 AM IST, 14 July 2017
From growth perspective, it is a very encouraging quarter, definitely weaker than typical Q1 but in the overall scheme of things, very encouraging quarter.
- Rajesh Gopinathan, CEO, TCS
10:29:22 AM IST, 14 July 2017
BIOCON SURGES ON USFDA'S CANCER DRUG APPROVAL
Taking its winning streak to the fourth consecutive session, shares of Biocon surged over 8 per cent in Friday's trade after The US Food and Drug Administration approved the Biocon and US drug maker Mylan's proposed biosimilar breast cancer drug Trastuzumab.
10:14:19 AM IST, 14 July 2017
IT INDEX TURNS CAUTIOUS
After the second largest domestic IT firm Infosys reported a 3.3 per cent sequential drop in net profit at Rs 3,483 crore for June quarter, the Nifty IT index dropped up to 0.49 per cent in Friday's early trade. The index was trading at 10,389.15, 0.49 per cent down. However, Infosys was trading in green.
10:02:04 AM IST, 14 July 2017
5 KEY TAKEAWAYS FROM INFOSYS Q1 RESULTS
Liquid assets including cash and cash equivalents and investments were $6,091 million as on June 30, 2017 as compared to $5,979 million as on March 31, 2017. Here are the five key takeaways from first quarter earnings.
09:47:50 AM IST, 14 July 2017
SHARES OF INFOSYS WERE TRADING 1.30 PER CENT UP AT RS 989.
09:20:29 AM IST, 14 July 2017
OPENING BELL: NIFTY HITS 9,900 FOR THE FIRST TIME EVER
Sensex above 32K; Infosys surges 3%; TCS slips 2%.
09:15:13 AM IST, 14 July 2017
INFOSYS Q1 PROFIT SLIPS 3.3% TO RS 3,483 CRORE
Infosys, second largest domestic IT firm, on Friday reported a 3.3 per cent sequential drop in net profit at Rs 3,483 crore for June quarter. The numbers though beat Rs 3,429 crore profit estimate projected by analysts in an ETNow poll. The IT major had reported Rs 3,603 crore profit for the corresponding quarter last year.
08:42:14 AM IST, 14 July 2017
GREED & FEAR INDEX
08:34:56 AM IST, 14 July 2017
CRUDE PRICES INCH LOWER
Brent crude futures, the international benchmark for oil prices, were down 8 cents, or 0.2 per cent, at $48.34 per barrel at 0151 GMT, but up 3.5 per cent for the week. US West Texas Intermediate (WTI) crude futures were at $45.98 per barrel, down 10 cents, or 0.2 per cent, but up around 4 per cent for the week.
08:20:35 AM IST, 14 July 2017
FDI POLICY REVIEW TODAY
Prime Minister Narendra Modi will hold a high-profile meeting to review the country's foreign direct investment policy on Friday, where further easing of restrictions may also be discussed. Finance minister Arun Jaitley, commerce and industry minister Nirmala Sitharaman, Niti Aayog CEO Amitabh Kant and DIPP secretary Ramesh Abhishek will attend the meeting.
08:20:10 AM IST, 14 July 2017
WPI DATA AWAITED
The inflation data based on wholesale price index (WPI) for June is slated for release on Friday. The WPI inflation had fallen to a five-month low of 2.17 per cent in May, mainly because of a sharp drop in vegetable prices.
08:19:00 AM IST, 14 July 2017
INFOSYS TO REPORT Q1 NOS TODAY
Brokerage firm Motial Oswal believes Infosys may post 4.5 per cent quarter-on-quarter (QoQ) fall in net profit at Rs 3,438 crore compared with Rs 3,603 crore profit reported for the sequential quarter ended March 31, 2016. The company’s revenue may slip 0.43 per cent QoQ to Rs 17,654 crore.
08:18:17 AM IST, 14 July 2017
ASIA MARKETS AT TWO-YEAR HIGH
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.3 per cent to its highest level in two years. It's set for a 3.3 per cent gain for the week. Japan's Nikkei added 0.15 per cent, poised for a weekly rise of 1 per cent. Hong Kong's Hang Seng climbed 0.2 per cent.
08:15:36 AM IST, 14 July 2017
SIGNAL FROM SINGAPORE
Nifty50 futures on the Singapore Stock Exchange were trading 7.50 points, or 0.08 per cent, higher at 9,901.50.50 , indicating a flat start for the NSE Nifty index.
08:14:18 AM IST, 14 July 2017
SENSEX ON THURSDAY
The Sensex climbed 232.6 points, or 0.7%, to close at 32,037.38 after hitting a lifetime high of 32091.52 during the day. The Nifty fell short of the 9,900-mark but nevertheless scaled a new peak of 9,897.25 before ending at 9,891.70, up 75.60 points, or 0.8%.
08:13:02 AM IST, 14 July 2017
Good morning, dear reader! Here’s something to kickstart your trading day
