Closing Bell: Sensex ends higher by 196 points, Nifty settles above 11,000##Closing Bell: Sensex ends higher by 196 points, Nifty settles above 11,000
The BSE Sensex closed at 36,519.96, rising by over 196 points, or 0.54 percent, while the NSE Nifty 50 ended above 11,014.85, rising by 0.71 percent, or 78 points. HUL is the biggest loser in trade today after brokerages downgrade the rating of the company post its Q1FY19 earnings. Bharti Airtel, Tech Mahindra, Dr Reddy's Labs, Eicher Motors were other losers, while shares of oil marketing companies topped the index gainers list as crude slips to three months low. Nifty Bank gained by 1.23 percent, while Nifty MidCap rose over 400 points, adding 2.33 percent.
Aviation stocks to face Crude headwinds, says Motilal Oswal##Aviation stocks to face Crude headwinds, says Motilal Oswal
Motilal Oswal says aviation stocks will face Crude Headwinds in near term. Expect Petro product price de-control to continue as long as Crude is below $100.
IndusInd Bank uptrend may have ended##IndusInd Bank uptrend may have ended
Shares of IndusInd Bank Ltd fell as much as 1.6 percent to Rs 1,892, lowest since June 8. The stock breaks below its 50-day exponential moving average after testing a resistance at Rs 1,995 for the last 1-1/2 months. Stock may fall up to a support at Rs 1,820.4, the 14.6 percent Fibonacci retracement level of the uptrend from February 11, 2016 low to June 27, 2018 high. Stock’s wave pattern suggests it has completed a five-wave uptrend and is in wave A of the corrective cycle. Typically the corrective cycle corrects prices by one-third to two-third of the entire uptrend. MACD also turns negative and is below its signal line. IndusInd Bank stock had gained up 16.6 percent this year as of Monday, outperforming the broader NSE index’s 3.86 percent rise. (From Reuters)
Market update: Sensex rises over 200 ponts, Nifty reclaims 11,000##Market update: Sensex rises over 200 ponts, Nifty reclaims 11,000
Indian markets rebounded in late afternoon trade buoyed by positive earnings results and rally in bank stocks. The Sensex surged by over 200 points to 36,531.61, rising 0.57 percent, while the Nifty reclaimed 11,000 mark, rising by 72.60 points, or 0.66 percent to 11,009.45 at 2.45 pm. Nifty PSU Bank has risen by 3.23 percent, with gains also seen in Metal, which has added 2.02 percent. Pvt Bank, Pharma, Auto, Bank, Fin Service, Realty are are trading above or near a percent. Oil companies led by HPCL, IOC top the charts on the NSE, followed by Hindalco, Sun Pharma, Tata Steel. Hindutan Unilever has declined the most on the Nifty, also dragging FMCG indice, which is down by nearly 0.80 percent. Bharti Airtel, Tech Mahindra, Dr Reddy's Labs, Eicher Motors are other laggards.
On the BSE, all sectoral indices trade in the positve zone except FMCG which trades lower at 0.65 percent. BSE Metal has gained 2.21 percent, while Basic Materials (1.75 percent), Energy, Finance, Healthcare, Industrials, Auto, Bankex, Consumer Durables, Oil & Gas, Power are all trading higher between 1-2 percent.Sensex gainers include Sun Pharma (3.39 percent), SBI (3.10 percent), Tata Steel (2.70 percent) Tata Motors (2.66 percent), Axis Bank (2.59 percent), Vedanta (2.45 percent), ICICI Bank (2.39 percent), Adani Ports (2.29 percent), M&M (2.19 percent), while Hindustan Unilever (3.52 percent), Bharti Airtel (1.04 percent), IndusInd Bank (1.02 percent) top the laggards.
Market update: Nifty eyes 11,000 mark, Sensex up by 90 points##Market update: Nifty eyes 11,000 mark, Sensex up by 90 points
The BSE Sensex added 90.48 points, or 0.25 percent, to 36,414.25, while the NSE Nifty 50 rose 48.10 points, or 0.44 percent, to 10,984.95. Midcaps on both indexes are trading nearly 1.5 percent higher. Shares of HPCL, BPCL lead the gainers, followed by Tata Steel, Sun Pharma, Hindalco, Tata Steel, Vedanta, M&M. Hindustan Unilever, Bharti Airtel, IndusInd Bank, NTPC, ITC, Eicher Motors, Dr Reddy's Labs top among losers.
Federal Bank Q1 profit jumps 25%, beats estimates##Federal Bank Q1 profit jumps 25%, beats estimates
Federal Bank Ltd posted a 25 percent jump in its first-quarter profit on Tuesday, helped by higher interest income. Net profit was Rs 263 crore in the three months ended June 30, compared with Rs 210 cores a year earlier, beating analyst expectation of a net profit of Rs 202 crore. Gross bad loans as a percentage of total loans was 3 percent at end-June, compared with 3 percent in the previous quarter and 2.42 percent a year earlier. Federal Bank shares surged over 12 percent to Rs 83.45 on the BSE at 1.30 pm.
Market update: Sensex, Nifty edge higher##Market update: Sensex, Nifty edge higher
The Sensex trades higher by 44.64 points, or 0.12 percent, to 36,368.41, while the Nifty rises by 0.28 percent, or 30.55 points, to 10,967.40. Midcaps rise over a percent, leaving behind the gloom of last four sessions.
Market update: Sensex trades in the green, Nifty above 10,950##Market update: Sensex trades in the green, Nifty above 10,950
The Sensex trades at 36,366.67, higher by 42.90, or 0.12 percent, while the Nifty is at 10,965.70, gaining 28.85 points, or 0.26 percent. MidCaps on both indexes have risen by nearly a percent. HPCL, Cipla, Sun Pharma, ICICI Bank, Tata Steel, Wipro, Tata Motors are among gainers, while shares of Hindustan Unilever, Bharti Airtel, IndusInd Bank, NTPC, Eicher Motors are among the laggards.