Sensex ends 88 pts higher after gyrating nearly 250 pts; Nifty above 10K
While bank shares dragged the Nifty and the Sensex by more than half-a-per cent on Thursday, there is no sign that the broader market will come crashing down in a hurry. For Friday though, the market does not have much of positive trigger either. Watch this space as we bring you LIVE updates of the proceedings from Dalal Street.
1 New Update
04:30:37 PM IST, 04 August 2017
CLOSING BELL: SENSEX ENDS 88 PTS HIGHER
The S&P BSE Sensex ended at 32,325.41, up 87 points or 0.27 per cent with shares of Tata Steel (up 3.57 per cent), Hero MotoCorp (up 3.05 per cent), Coal India (up 3.04 per cent) and NTPC (up 2.96 per cent) being the top gainers in the index.
03:13:55 PM IST, 04 August 2017
GOVT UNVEILS BHARAT 22 ETF
Bharat-22 ETF to have some holdings of SUUTI: FM Arun Jaitley
03:02:55 PM IST, 04 August 2017
HPCL REPORTS 56% YOY FALL IN Q1 NET PROFIT; GRM AT $5.86/BBL
Oil marketing major Hindustan Petroleum Corporation (HPCL) on Friday posted 56 per cent year-on-year decline in net profit at Rs 924.75 crore for the quarter ended June 30, 2017 against Rs 2,098.38 crore in the crore in the corresponding quarter last year.
02:08:25 PM IST, 04 August 2017
THESE STOCKS CRACKED UP TO 33% TODAY
Shares of KSS (down 33.33 per cent), LCC Infotech (down 20 per cent) and Shekhawati Poly-Yarn (16.67 per cent) cracked up to 33 per cent in Friday's trade amid a subdued market. Other stocks, such as Indo Thai Securities (down 9.99 per cent), Housing Development and Infrastructure (down 9.34 per cent), Kokuyo Camlin (down 8.52 per cent) and The Ruby Mills (down 7.43 per cent) too saw significant fall.
01:24:54 PM IST, 04 August 2017
NEARLY 30 STOCKS HIT FRESH 52-WEEK LOW TODAY
Shares of Morepen Labs, NDTV, Mandhana Industries, Orissa Minerals, Vimal Oil Food, Sun Pharma, Lloyd Electric, Cambridge Tech, Dr Reddys Labs, SML Isuzu, SURANA Solar, Lupin, Nitin Fire Prot, Coal India, Adlabs Entertainment and Ajanta Pharma were among the 30 stocks that touched their new 52-week low in Friday's trade.
01:04:49 PM IST, 04 August 2017
PHARMA STOCKS CRACK FOR THIRD DAY IN A ROW; SHOULD YOU BUY?
Tracking company-specific action and appreciation in rupee, Nifty Pharma index extended its losing run for the consecutive trading session on Friday. The index was trading 1.37 per cent down at 9,209 in Friday's early trade, with Cadila Healthcare (down 3.07 per cent) was among top losers in the index.
12:43:46 PM IST, 04 August 2017
100-BAGGER RETURN IN 6 YEARS! LUCKNOW LADS PROVE THEIR METTLE
Ayush Mittal is just 33 and his brother Pratyush Mittal, 29. Over the past decade or so, they have developed a flair for spotting potential value bets among smaller companies and made big money on them.
12:24:10 PM IST, 04 August 2017
SMALL-TOWN INDIA HOOKED TO SIPS, MULTIBAGGERS
The bull run in equities may stumble here and there, but it is definitely not ending anytime soon. People in India’s countryside are showing strong appetite for equity if Google search patterns from small-town India is any indication to go by. With rising awareness about equity investment, search for the words ‘SIP’ and multibaggers on Google has reached the highest levels in five years.
12:30:33 PM IST, 04 August 2017
IOC GAINS 4% AS Q1 RESULTS BEAT STREET EXPECTATIONS
Shares of Indian Oil Corporation (IOC) advanced over 4 per cent in Friday's trade even as the company on Thursday reported a 45 per cent in net profit in its fiscal first quarter of 2017, still beating analysts' estimates.
12:30:13 PM IST, 04 August 2017
VIDEOCON SHARES FALL AS LENDERS ORDER FORENSIC AUDIT OF ACCOUNTS
Shares of Videocon Industries fell over 2 per cent in Friday's trade after a SBI-led consortium of lenders ordered a forensic audit of the company to find out whether the company foundered because of adverse business conditions or financial mismanagement.
12:30:02 PM IST, 04 August 2017
BIOCON TUMBLES 9% AS USFDA ISSUES 10 OBSERVATIONS
Shares of Biocon tumbled over 9 per cent in Friday’s trade after the US drug regulator USFDA issued 10 observations on the drugmaker’s Bangalore plant. Following the development, Biocon dropped 9.13 per cent to hit a low of Rs 341 on BSE.
12:29:45 PM IST, 04 August 2017
ITC SHARES GAIN ON REPORTS OF HIKE IN SELECT CIGARETTE BRANDS
Shares of diversified major ITC advanced over 1 per cent in early trade after reports that the company has increased prices of select cigarette Kings brand by 20 per cent to Rs 360 per 20 cigarette pack.
12:29:29 PM IST, 04 August 2017
TITAN COMPANY SURGES 10% POST Q1
Shares of Titan Company jumped over 10 per cent in Friday’s trade after the Tata group firm reported a 96.84 per cent year-on-year (YoY) increase in consolidated net profit at Rs 237.97 crore for the June quarter, thanks to robust sales reported by jewellery business.
12:29:01 PM IST, 04 August 2017
PNB HOUSING FINANCE SURGES 8% POST Q1 RESULTS
Shares of PNB Housing Finance surged nearly 8 per cent in early trade after the housing finance company on Thursday reported a 92.70 per cent rise in net profit to Rs 184.80 crore for the first quarter ended June 30, 2017.
12:28:12 PM IST, 04 August 2017
CEAT PLUNGES OVER 6% POST Q1 RESULTS
Shares of tyre manufacturer Ceat slipped as much as 6.43 per cent in early trade on Friday after the company on Thursday registered a 98.6 per cent fall in its consolidated net profit at Rs 1.38 crore for the June quarter due to destocking by trade partners ahead of the GST rollout and higher expenses.
12:27:26 PM IST, 04 August 2017
RUPEE OPENS 2 PAISE HIGHER AGAINST US DOLLAR AT 63.67
The rupee on Friday opened 2 paise up at 63.67 against dollar on account of selling of American currency by banks and exporters. Angel Broking believes USD-INR spot is expected to weaken on Friday tracking losses in Asian markets. Uncertainty has clouded the global markets which is affecting markets across the globe to some extent.
09:33:15 AM IST, 04 August 2017
OPENING BELL: SENSEX, NIFTY OFF TO A CHOPPY START
Sensex, Nifty50 start on a choppy note; Biocon slips 8%, CEAT 4%, Sun Pharma 3%; Titan up 4%.
09:19:13 AM IST, 04 August 2017
HSBC, CLSA CUT LUPIN'S PRICE TARGET
HSBC has cut target price on Lupin to Rs 1,205 from Rs 1,395 to reflect subdued FY18 for company, while maintaining a 'buy' on the stock. CLSA has reduced the target price on Lupin to Rs 1,100 from Rs 1,310. This brokerage has cut EPS estimate for the drugmaker by 13-35 per cent due to sharp decline in US sales, currency/GST related pressure in June quarter.
09:05:06 AM IST, 04 August 2017
PRE-OPEN SESSION: NIFTY BELOW 10,000
Nifty slips below 10,000, Sensex trades above 32,250 level; Rupee trades above 63.67 against US dollar.
08:59:26 AM IST, 04 August 2017
ASIAN MARKETS MIXED
MSCI's broadest index of Asia-Pacific shares outside Japan was marginally higher, with many investors reluctant to stake out fresh positions ahead of US job data later in the day, Reuters reported. Japan's Nikkei dropped 0.4 per cent on a stronger yen, and looked set to end the week little changed. South Korea's KOSPI which closed at a 3-1/2-week low on Thursday, recovered 0.3 per cent. It is down 0.4 percent this week, the report said.
08:58:59 AM IST, 04 August 2017
KEY EARNINGS TO WATCH OUT FOR
Mahindra & Mahindra, HPCL, Fortis Healthcare, Andhra Bank, Apollo Tyres and Sobha are some of the companies which will report their June quarter earnings on Friday. CPCL, Arvind, MRF and Aban Offshore would also announce their quarterly earnings during the day.
08:55:17 AM IST, 04 August 2017
SIGNAL FROM SINGAPORE
Nifty50 futures on the Singapore Stock Exchange were trading 2.50 points lower at 10,039.50, indicating a flat opening for the domestic market.
08:54:31 AM IST, 04 August 2017
NIFTY TECHNICAL CHARTS
The index on Thursday made a ‘Bearish Belt Hold’ pattern for the second consecutive day. Though corrections since June lows have not lasted beyond two days, the index needs to hold above 9,985 level to avoid any weakness in the trend. The index has broken 11-day ascending channel with multiple touch points on lower time frame charts, said Mazhar Mohammad of Chartviewindia.in, who believe the breach has projected downside target close to 9,916 levels.
08:53:50 AM IST, 04 August 2017
FORENSIC AUDIT ON VIDEOCON ORDERED
A SBI-led consortium of lenders has ordered a forensic audit of Videocon Industries' accounts to find out whether the company foundered because of adverse business conditions or financial mismanagement, said two people with knowledge of the matter. The move is preliminary to the start of debt restructuring after Videocon defaulted on loans worth Rs 43,000 crore, they said.
08:51:42 AM IST, 04 August 2017
COGNIZANT RAISED 2017 OUTLOOK
Cognizant said it expects 9-10 per cent revenue growth in 2017. It had previously forecast growth of 8-10 per cent for the year. The company announced $3.67 billion revenue for the June quarter, up 3.5 per cent from the March quarter. The company axed over 4,000 jobs in the previous quarter, the highest among industry peers.
08:51:09 AM IST, 04 August 2017
SIP GAINING INVESTOR INTEREST
The search for the keyword, `Systematic Investment Plan' (SIP) ,using the Google search engine has peaked. Contrary to general perception, an overwhelming number of people in states like Jharkhand, Sikkim, and Haryana -where Assets Under Management (AUM) as a percentage of respective state domestic products (SDP) is low -are trying to find out more about SIPs.
08:47:34 AM IST, 04 August 2017
COCHIN SHIPYARD SUBSCRIBED 76 TIMES!
The Rs 1,468-crore initial public offering of Cochin Shipyard ended on a strong note on Thursday , with the issue being subscribed 76.1 times. The offer received bids for 258.69 crore shares compared to 3.39 crore shares offered (excluding the portion for anchor investors).
08:43:46 AM IST, 04 August 2017
US STOCKS CLOSED MIXED OVERNIGHT
The Dow Jones Industrial Average index rose 0.04 per cent, or 9.86 points, to settle an all-time closing high of 22,026.1.The S&P500 index declined 0.22 per cent to 2,472.16 and the Nasdaq Composite index dropped 0.35 percent to 6,340.34.
08:42:35 AM IST, 04 August 2017
SENSEX ON THURSDAY
The S&P BSE Sensex on Thursday shed 239 points to end the day at 32,238 with telecom major Bharti AirtelBSE (up 2 per cent) being the top gainer and drug firm LupinBSE (down 4 per cent) the worst laggard. The Nifty50 index of NSE lost 68 points but managed to close above the crucial 10,000 mark at 10,014, with 31 constituents ending the session in the negative territory.
08:39:06 AM IST, 04 August 2017
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