Sensex, Nifty give up all gains on F&O expiry; DRL cracks 4%, TCS 3%
Will the July F&O expiry on the back of a dovish Fed statement trigger a short-covering rally on Thursday? Watch this space as we bring you LIVE updates of the proceedings from Dalal Street.
1 New Update
04:17:28 PM IST, 27 July 2017
CLOSING BELL: SENSEX, NIFTY GIVE UP ALL GAINS ON F&O EXPIRY
The domestic indices shed 1 per cent in each, in the last hour of trade to end the day flat on Thursday after gains in banking stocks such as HDFC Duo, Kotak Mahindra Bank and SBI offset selling in index heavy weights such as Infosys (down 2.16 per cent), ITC (down 1.62 per cent) and RIL (down 1.45 per cent).
03:14:47 PM IST, 27 July 2017
In the aftermath of SEBI directive on issuance of P-Notes/ODIs against F&O, the market has witnessed unwinding of positions especially shorts in the beaten down names. However we strongly believe, some of the long positions held against such P-Notes/ODIs may opt to convert their holdings into cash on Thursday. We might end up being in a scenario wherein a good chunk of open interest will expire.
- Edelweiss Securities
03:09:06 PM IST, 27 July 2017
MARKET SEES SUDDEN DIP AHEAD OF F&O EXPIRY
02:56:59 PM IST, 27 July 2017
DR REDDY’S Q1 PROFIT MORE THAN HALVES TO RS 59 CRORE
Pharma major Dr Reddy’s Laboratories on Thursday reported 53.21 per cent year-on-year fall in consolidated net profit at Rs 59.10 crore for the quarter ended June 30, 2017 against Rs 126.30 crore in the corresponding quarter last year.
01:54:07 PM IST, 27 July 2017
MARUTI SUZUKI Q1 PROFIT RISES 4.4% TO RS 1,556 CRORE
Maruti Suzuki on Thursday reported a flat profit growth of 4.4 per cent to Rs 1,556 crore for June quarter, hurt by higher deferred tax provisions. The number came below Rs 1,684 crore profit estimated by analysts in an ET Now poll. Net sales for the quarter rose 16.17 per cent to Rs 17,132.4 crore, the company said in a BSE filing.
01:36:15 PM IST, 27 July 2017
THESE STOCKS SURGED UP TO 20%
Shares of Shekhawati Poly-Yarn (up 20 per cent), Salora International (up 19.92 per cent), Tamil Nadu Newsprint & Papers (up 11.50 per cent) and Som Distilleries & Breweries (up 10.18 per cent) surged over 10 per cent in Thursday's trade on NSE.
01:08:00 PM IST, 27 July 2017
SHREE RENUKA TANKS 8% AHEAD OF BOARD MEET, DOWN 14% IN 2 DAYS
Taking its losing streak to second session, shares of Shree Renuka dropped 8 per cent in Thursday’s trade amid reports of a massive restructuring plan that might b announced later in the day.
12:45:45 PM IST, 27 July 2017
YES BANK GAINS ON 32% INCREASE IN Q1 NET PROFIT
Shares of Yes Bank gained over 4 per cent in Thursday's trade after the bank reported a 32 per cent rise in net profit to Rs 966 crore in the quarter through June. Following the development, the stock advanced 4.87 per cent to Rs 1,795.50 on BSE. It opened at Rs 1,745 and touched an intraday high and low of Rs 1,796.50 and Rs 1,741 respectively.
12:16:39 PM IST, 27 July 2017
INDIABULLS REALTY RALLIED 9% AS CLSA INITIATES COVERAGE WITH A BUY RATING
Shares of Indiabulls Real Estate jumped over 9 per cent after foreign brokerage CLSA initiated coverage on the stock with a buy rating. CLSA said it has a 12-month price target of Rs 282 on the stock. Following the announcement, the stock rose 9.2 per cent to hit a high of Rs 244.50 on BSE. Even at this price, the stock holds 15.3 per cent upside potential as per CLSA’s price target.
11:47:45 AM IST, 27 July 2017
NIFTY BANK HITS NEW RECORD; TRADES ABOVE 25,000
11:09:48 AM IST, 27 July 2017
HDFC RALLIES AS BROKERAGES RAISE PRICE TARGET
Shares of HDFC advanced over 3 per cent in Thursday's trade after foreign brokerages remained upbeat on the largest home finance company, even as it reported a 16.83 per cent drop in standalone net profit at Rs 1,556 crore for the quarter ended June 30, 2017.
10:53:10 AM IST, 27 July 2017
NIFTY AT NEW HIGH, HITS 10,100
10:40:33 AM IST, 27 July 2017
OVER 50 STOCKS HIT FRESH 52-WEEK HIGH
Over 50 stocks including GTL Infra, Indiabulls Real Estate, Alok Industries, Eastern Silk, HDFC, YES Bank, IGL, HCL Tech, Eicher Motors, Bajaj Finserv, L&T Fin Holding and Bajaj Finance hit their fresh 52-week high on NSE in Thursday's trade.
10:17:17 AM IST, 27 July 2017
ICICI BANK TO REPORT Q1 RESULTS TODAY; HERE'S WHAT EXPERTS SAY
ICICI Bank is expected to report a 7-8 per cent year-on-year rise in net profit for June quarter. The lender is seen reporting 8-10 per cent growth net interest income (NII), while net interest margins (NIM) are expected to stay around same levels as last year’s.
10:00:32 AM IST, 27 July 2017
ITC LIKELY TO REPORT 6-8% GROWTH IN Q1 NET PROFIT
FMCG major ITC is expected to post a modest 6-8 per cent YoY growth in net profit for the June quarter dented by a flat to marginal fall in cigarette volumes. The stock is trading 1% higher ahead of Q1 numbers.
09:17:41 AM IST, 27 July 2017
OPENING BELL: SENSEX HITS FRESH RECORD HIGH
Sensex hits all-time high! Nifty stays above 10K; ICICI Bank, HDFC rise 1% each; YES Bank 3%.
08:53:27 AM IST, 27 July 2017
SIGNAL FROM SINGAPORE
Nifty50 futures on the Singapore Stock Exchange were trading 8 points higher at 10,039, indicating a positive opening for the domestic market.
08:52:45 AM IST, 27 July 2017
MARKET-WIDE ROLLOVERS AT 54%
Market-wide rollovers stood at 54 per cent till Wednesday, which were a tad lower than the average rollovers of 57 per cent seen on the comparable day, in the last three series. Nifty rollovers stood at 49 per cent, which were lower compared with the average rollover of 56 per cent in the last three series.
08:52:25 AM IST, 27 July 2017
FED MAINTAINS STATUS QUO
A Reuters poll taken Wednesday after the Fed's two-day policy meeting showed primary US dealers, the banks authorized to trade directly with the Fed, were uniform in the view that policy makers would forego an interest rate hike at their next meeting, on September 19-20.
08:51:58 AM IST, 27 July 2017
FED BALANCE SHEET WIND DOWN RELATIVELY SOON
The Fed signalled that the balance sheet reduction process would begin "relatively soon." It would follow a plan outlined in June to trim its holdings of US Treasury bonds and mortgage-backed securities, it said.
08:51:03 AM IST, 27 July 2017
NIFTY TECHNICAL CHARTS
The index witnessed a breakout above its three-month old ascending channel on the daily chart. It made a higher low for third session in a row. Analysts said that the breach of the level on a closing basis has opened up doors for much higher levels, even as traders remain reluctant bulls.
08:53:44 AM IST, 27 July 2017
KEY EARNINGS TO WATCH OUT FOR
Bank ICICI Bank, FMCG major ITC, carmaker Maruti Suzuki, oil giant ONGC and telecom operator Idea Cellular will announce their quarterly earnings on Thursday. HCL Technologies has before market hours reported Q1's total comprehensive income at Rs 2,210 crore.
08:49:13 AM IST, 27 July 2017
ASIAN MARKETS MIXED
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.5 per cent to heights not seen since January 2008. It has gained nearly 5 percent so far this month. South Korea added 0.6 percent and Australia 0.2 percent, while Japan's Nikkei was kept flat by a firmer yen.
08:48:54 AM IST, 27 July 2017
US STOCKS ROSE ON DOVISH FED
The Dow Jones Industrial Average rose 97.58 points, or 0.45 per cent, to end at 21,711. The S&P500 gained 0.7 point, or 0.03 per cent, to 2,477. The Nasdaq Composite index added 10.57 points, or 0.16 per cent, to 6,422.
08:48:00 AM IST, 27 July 2017
SENSEX ON WEDNESDAY
Riding high on positive cues, the S&P BSE Sensex on Wednesday gained 154 points to end the session at 32,382 with Tata Steel (up 2 per cent) being the top gainer and Axis Bank (down 3 per cent) the worst laggard. The NSE's Nifty closed 56 points higher at 10,020.65 with 30 components in the green and rest in the red.
08:43:47 AM IST, 27 July 2017
HCL TECH Q1 PROFIT AT 2,210 CRORE; FY18 REV GUIDANCE AT 10.5-12.5%
IT major HCL Technologies on Thursday reported a 10.7 per cent sequential fall in net profit at Rs 2,210 crore for the June quarter. Revenue for the quarter rose 0.8 per cent QoQ to Rs 12,149 crore, the company said. This was 7.2 per cent higher than the previous quarter on YoY basis.
08:28:44 AM IST, 27 July 2017
GOOD MORNING, DEAR READER!
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