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Closing Bell: Sensex ends 157 points higher, Nifty settles near 11,320, Nifty PSU Bank rises 4.3%

Closing Bell: Sensex ends 157 points higher, Nifty settles near 11,320, Nifty PSU Bank rises 4.3%

Closing Bell: Sensex ends 157 points higher, Nifty settles near 11,320, Nifty PSU Bank rises 4.3%
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Summary

Indian markets recovered in the end after seeing a short period selling in mid-day trade. Earlier, the market had opened on a strong note on Monday defying weak global cues. The Sensex opened 93 points higher at 37,429.70 and finally settled at 37,494, ending 157 points higher, while the Nifty 50 started 21 points higher at 11,299.50 and closed at 11,319, adding 41 points. The Nifty PSU Bank ended 4.30 percent higher with all 12 shares advancing higher. Asian shares closed in the red. Here are the major highlights from the stock markets today:

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Sensex gainers and losers##Sensex gainers and losers

Closing Bell: Sensex ends 157 points higher, Nifty settles near 11,320, Nifty PSU Bank rises 4.3%

HCL Tech top index loser after Q1 Results on Friday##HCL Tech top index loser after Q1 Results on Friday

Tech Mahindra Q1FY19 net profit at Rs 897.9 crore##Tech Mahindra Q1FY19 net profit at Rs 897.9 crore

Tech Mahindra Q1FY19 net profit at Rs 897.9 Cr Vs CNBC-TV18 poll of Rs 885 crore. The stock traded at Rs 654.60, rising by 1.46 percent, or Rs 9.45 in value on the BSE.

ICICI Bank surges in trade after Q1 results##ICICI Bank surges in trade after Q1 results

Closing Bell: Sensex, Nifty recover in the end after short-selling in mid-day trade##Closing Bell: Sensex, Nifty recover in the end after short-selling in mid-day trade

The BSE Sensex ended 157 points higher at 37,494, while the Nifty 50 ended 41 points higher at 11,319 on the first day of week after record opening in the morning. ICICI Bank, Bharti Airtel, SBI, Axis Bank, UltraTech Cement were among top gainers, while IT stocks led by Infosys, Wipro declined along wiht HDFC twins, Adani Ports, L&T, Bajaj Auto, Kotak Bank. Among sectoral indices, Nifty PSU Bank shone the most with 4.3 percent rise with all 12 public sector banks listed rising on the indice. Market breadth is in favour of advances with advance-decline ratio at 2:1. Banks lead Nifty gains today with the SBI, ICICI and Axis Bank leading the pack. Texrail surges over 14% intra-day after good Q1 numbers. 

Chennai Petro reports Q1FY19, net profit falls by 12.4%##Chennai Petro reports Q1FY19, net profit falls by 12.4%

Vedanta hits 3-week high; technicals suggest further rise##Vedanta hits 3-week high; technicals suggest further rise

Vedanta Ltd’s shares traded at Rs 224, rising by 1.91 percent, or Rs 4.20 on the BSE at 3 pm. The stock has swung between Rs 232.95 and Rs 217.35, after opening at Rs 222 in intra-day trade.

The stock breaks above a descending trend line, suggesting, it may rise up to the next resistance at Rs 242.04, the 38.2 percent Fibonacci retracement level of the uptrend from February 12, 2016 low to January 29, 2018 high. Stock’s wave pattern suggests the five-wave correction that started in late January this year may have completed and stock is now in the initial wave of a five-wave uptrend. MACD is above its signal line, seen favourable. 

Vedanta share is down 33.4 percent this year as of Friday, while the broader NSE Index is up 7.1 percent in the same period.

Market update: Sensex, Nifty sustain gains##Market update: Sensex, Nifty sustain gains

Markets trade higher ahead of the last hour of trade on Monday. The Sensex trades 142 points higher or up by 0.38 percent to 37,479.25, while the Nifty 50 is 23 points higher, or 0.20 percent, to 11,301.35.

Shares of Texmaco Rail & Engineering or Texrail surged by over 14 percent to Rs 78.90 or higher by Rs 9.75 after results on the BSE. 

HDFC net profit at Rs 2,190 crore vs CNBC-TV18 poll of Rs 2,108.4 crore##HDFC net profit at Rs 2,190 crore Vs CNBC-TV18 poll of Rs 2,108.4 crore

HDFC reported a net profit of Rs 2,190 crore today against CNBC-TV18 poll of Rs 2,108.4 crore.  HDFC shares traded at Rs 2,035.50, or down by Rs 8.95, or 0.44 percent on the BSE after Q1 results.

Piramal Ent reports Q1 earnings with net loss at Rs 69.8 crore (YoY)##Piramal Ent reports Q1 earnings with net loss at Rs 69.8 crore (YoY)

Here's a snapshot of Q1 results released so far##Here's a snapshot of Q1 results released so far

Godrej Consumer reports deferred tax at Rs 116 cr Vs Rs 0.1 cr (YoY); Godrej Consumer reports domestic volume growth at 14%  Vs CNBC-TV18 poll of 10-12% growth.


Srikalahasthi Pipes reports Q1 earnings with net profit down 52.5% at Rs 17.3 cr Vs Rs 36.4 cr (YoY).

Shree Cement net profit at Rs 279.5 crore Vs CNBC-TV18 poll of Rs 391 crore; Shree Cement reports Q1 earnings with net profit at Rs 279.5 crore Vs CNBC-TV18 poll of Rs 391 crore.

RITES net profit up 7.7% at Rs 363.2 crore Vs Rs 337.1 crore (YoY); Revenue up 11.2% at Rs 1,503 crore Vs Rs 1,351.5 crore (YoY); EBITDA up 15.2% at Rs 410.1 crore Vs Rs 356.1 crore (YoY); EBITDA margin at 27.3% Vs 26.3% (YoY).

Market update: Sensex rise by over 123 points, Nify above 11,300##Market update: Sensex rise by over 120 points, Nify above 11,300

Indian equity markets recouped losses in early afternoon trade with the Sensex rising by over 123 points, or 0.33 percent, to 37,460.22, while the Nifty 50 reclaimed 11,300 mark, to trade higher by 25 points, or 0.23 percent, to 11,303.85. ICICI Bank, SBI, Bharti Airtel, Vedanta, M&M, were among top index gainers, while shares of HDFC Bank, Kotak Mahindra, Infosys, L&T, Adani Ports, HCL Tech, Hindalco, Bajaj Finance declined. Midcaps were trading in the green with the BSE MidCap nearing half a percent. Among sectoral indices, BSE Telecom, Bankex surged by up to 1.73 percent, while IT, Capital Goods, Teck trading in the negative zone. All other indices were trading higher of flat. On the NSE, PSU Bank surged 4.70 percent, while Nifty IT traded in the red.

SBI’s shares rises on interest rate hike##SBI’s shares rises on interest rate hike

Shares of State Bank of India were trading at Rs 298.70, higher by 4.22 percent, or Rs 12.10 on the BSE. Earlier, it rose as much as 4.4 percent to Rs 299.55, highest since February 9. The share has ranged between Rs 299.55 and Rs 287.60. India’s biggest lender by assets hikes interest rate on retail domestic term deposits below Rs 10 million for more than 1-year tenors. More than 18.8 million shares change hands, compared with the 30-day moving average of 16.2 million. Up to last close, stock had fallen 7.5 percent, compared with Nifty Bank Index’s gain of 8.2 percent.

Century Textile Q1 results announced##Century Textile Q1 results announced

Srikalahasthi Pipes falls 8.29%, Q1 profit down##Srikalahasthi Pipes falls 8.29%, Q1 profit down

Shares of Srikalahasthi Pipes Ltd traded at Rs 208.00, or lower by Rs 18.80, or down by 8.29 percent on the BSE. The company reported today Q1 earnings with net profit down 52.5% at Rs 17.3 crore Vs Rs 36.4 crore (YoY). The promoters intend to buy shares worth Rs 2 crore in Open Market after August 1.

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