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Closing Bell: Sensex, Nifty end at record highs, Nifty PSU Bank at 6%, Yes Bank falls post Q1 results

Closing Bell: Sensex, Nifty end at record highs, Nifty PSU Bank at 6%, Yes Bank falls post Q1 results

Closing Bell: Sensex, Nifty end at record highs, Nifty PSU Bank at 6%, Yes Bank falls post Q1 results
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Summary

Indian markets ended at record high on Thursday, recovering ahead of close, on a day both indexes scaled new peaks led by sustained buying in banking and other sectors. Nifty PSU Bank ended at nearly 6 percent high, while both midcaps gained over half a percent. Yes Bank and Maruti Suzuki slipped after June quarter results were declared. Asian markets ended the day in the red. Here are the major updates and developments from the stock markets today:

Live Updates

Sensex, Nifty end at record closing highs###Sensex, Nifty end at record closing highs

Jul 26, 2018 3:49 PM

Closing Bell: Sensex, Nifty end at record highs##Closing Bell: Sensex, Nifty end at record highs

Indian markets ended the day at record highs on  a day the two benchmark indexes hit new intra-day highs. The Sensex touched 37,062, closing 0.3% higher or at 36,984, while the Nifty hit an intra-day high of 11,186. The broader index closed at 11,167. Bank stocks outperformed with the Nifty Bank just 92 points shy from record close. The market breadth favours advances with the advance-decline ratio at 1:1. SBI and ICICI Bank contributed over 90 percent to Nifty gains, while Maruti Suzuki India and Yes Bank dragged Nifty after their quarterly results were announced. Oil marketing companies and IT stocks were hit. 

Jul 26, 2018 3:43 PM

Indiabulls Housing Finance hits 3-month high; chart suggests more upside##Indiabulls Housing Finance hits 3-month high; chart suggests more upside

Indiabulls Housing Finance Ltd’s shares gain as much as 2.9 percent to Rs 1,345, highest since April 23. Stock breaks above a resistance at Rs 1,300.59, the 23.6 percent Fibonacci projection level of the uptrend from December 27, 2016 low to January 29, 2018 high. Breakout suggests stock may now rise up to the next resistance at Rs 1,420.81, the 38.2 percent projection level. Wave pattern suggests that a “double three” correction has completed and stock is now in the first wave of a five-wave uptrend.

Stock’s 20-day exponential moving average (EMA) cuts above the 50-day EMA, seen bullish for stock. Trend intensity indicator rises to 20, suggesting an uptrend for stock; MACD is also positive and above its signal line. Stock is up 9.26 percent this year as of last close, compared with the broader NSE index’s 5.7 percent gain. (Reuters)

Jul 26, 2018 3:21 PM

A snapshot of June quarter results released so far##A snapshot of June quarter results released so far

J&K Bank Q1FY19 net profit at Rs 52.6 crore Vs CNBC-TV18 poll of Rs 16.9 crore; Gross NPA at 9.83% Vs 9.96% (QoQ); Net NPA at 4.65% Vs 4.90% (QoQ).


Force Motors net profit up 36.6% at Rs 40.9 crore Vs Rs 30 crore (YoY); Revenue up 19.6% at Rs 890.5 crore Vs Rs 744.5 crore (YoY).

SBI Life Q1FY19 net profit at Rs 354.3 crore vs Rs 313.4 crore.


Dr Reddy's consolidated Rs 456.1 crore Vs CNBC-TV18 poll of Rs 309.1 crore. 

Jul 26, 2018 3:15 PM

Dr Reddy's reports healthy earnings against a low base##Dr Reddy's reports healthy earnings against a low base

Jul 26, 2018 3:10 PM

Market update: Sensex, Nifty off from day's high##Market update: Sensex, Nifty off from day's high

Indian markets cooled off from the day's record high in the afternoon trade on Wednesday ahead of the expiry of July contracts. So far, earnings of Maruti Suzuki, Yes Bank and other firms have not majorly inspired the street. The Sensex trades at 36,890.11, higher by 32 points, or 0.09 percent, while the Nifty 50 has slipped below the 11,150 mark to 11,136, just up by 5 points. Yes Bank and Maruti Suzuki are top losers after their Q1 results. Yes Bank shares trade lower by over 5 percent, while Maruti is down by 3.59 percent on the BSE. Other losers are L&T, Asian Paints, Kotak Bank, Infosys, all losing by up to 1.7 percent. SBI with 4.62 percent rise, ICICI Bank at 3.82 percent, Power Grid at 2.70 percent are Sensex gainers. BSE MidCap is trading higher by 0.69 percent, while the SmallCap is up by 0.18 percent. Among sectoral indices, Power, Bankex, Utilities, Finance trade positive, while others are trading near flatline or in the negative zone. On the NSE, Nifty PSU Bank has gained 4.40 percent with Nifty Bank, Fin Service also gaining by up to 1.32 percent. Nifty Auto, FMCG, IT, Media, Metal are in the red.

Jul 26, 2018 2:49 PM

A snapshot of June quarter results released so far##A snapshot of June quarter results released so far

Maruti Suzuki Q1FY19 net profit at Rs 1,975 crore; net profit up 26.9% at Rs 1,975 cr Vs Rs 1,556.4 cr (YoY); 


Colgate-Palmolive (India) Q1FY19 net profit at Rs 189.5 crore; Volume growth at 4%; Revenue at Rs 1,041.3 crore; Toothpaste market share at 52.4%; EBITDA At Rs 281.6 crore; EBITDA margin at 27%.

NIIT Q1FY19 net profit up 72.7% at Rs 17.9 crore Vs Rs 10.4 crore (QoQ); Revenue up 2.1% at Rs 214.2 crore Vs Rs 210 crore (YoY).


Eveready Q1FY19 net profit up 35.3% at Rs 18.4 crore Vs Rs 13.6 crore (YoY); Revenue up 13.25 at Rs 383.3 crore Vs Rs 338.8 crore (YoY); EBITDA up 24.7% at Rs 34.8 crore Vs Rs 27.9 crore (YoY); EBITDA Margin at 9.1% Vs 8.2% (YoY).


Bharat Fin Q1FY19 net profit at Rs 142.1 crore Vs CNBC-TV18 poll of Rs 171.3 crore; Revenue down 5.4% at Rs 611.3 crore Vs Rs 646 crore (YoY).

Shriram Transport Gross NPA at 8.98% Vs 9.15% (QoQ); Net NPA at 2.74% Vs 2.83% (QoQ).

Tata Power Q1FY19 consolidated net profit at Rs 1,769 crore Vs Rs 391 crore (YoY), one-time gain on sale of investments at Rs 1,897 crore; consolidated revenue up 14% at Rs 7,313 crore Vs Rs 6,415 crore (YoY);consolidated EBITDA down 8.5% at Rs 1,771 crore Vs RS 1,934 crore (YoY); consolidated EBITDA Margin at 24.2% Vs 30.1% (YoY).

Heidelberg Cement Q1FY19 net profit at Rs 51.1 crore Vs Rs 16 crore; Revenue up 22.5% at Rs 540.2 crore Vs Rs 441 crore (YoY).


Yes Bank Q1FY19 net profit at Rs 1,260 crore Vs CNBC-TV18 poll of Rs 1,193.80 crore; Gross NPA at 1.31% Vs 1.28% (QoQ); Net NPA at 0.59% Vs 0.64% (QoQ); Loan growth at 53.4% (YoY); Gross Slippages at Rs 560 crore Vs Rs 380.2 crore (QoQ). The bank recovered Rs 184 Cr from an NCLT account during the quarter.

Jul 26, 2018 2:29 PM

Yes Bank Q1FY19 net profit at Rs 1,260 crore ##Yes Bank Q1FY19 net profit at Rs 1,260 crore 

Jul 26, 2018 2:12 PM

Maruti Suzuki’s first-quarter profit rises about 27 percent, misses estimates##Maruti Suzuki’s first-quarter profit rises about 27 percent, misses estimates

India’s largest-selling car maker, Maruti Suzuki India, posted a rise of nearly 27 percent in first-quarter profit on Thursday, boosted by higher sales volumes, but missed street estimates. The company reported a profit of Rs 1,975 crore ($287.38 million) for the quarter ended June 30, against Rs 1,556 a year earlier. Maruti Suzuki India's shares traded at Rs 9,382, down by over 3.8 percent, losing nearly Rs 375 in value on the BSE. Meanwhile, the Sensex trades at 36,968.59, higher by 110.36 points, or 0.30 percent, while the Nifty is at 11,158.75, up by 26.75 points, or 0.24 percent. 

Jul 26, 2018 2:00 PM

Maruti Suzuki shares slip after Q1FY19 net profit at Rs 1,975 crore ##Maruti Suzuki shares slip after Q1FY19 net profit at Rs 1,975 crore

Jul 26, 2018 1:21 PM

Market update: Sensex, Nifty trade higher##Market update: Sensex, Nifty trade higher

Indian markets have come down from record levels. The Sensex trades higher by 139 points, or 0.38 percent, at 36,996.87, while the Nifty is at 11,171, rising by 39 points, or 0.38 percent. MidCaps continue to trade positive, with the BSE MidCap rising by 0.86 percent, while the Nifty MidCap is higher by 0.63 percent. SBI leads among Sensex gainers, trading higher by over 4 percent, followed by ICICI Bank at 3.6 percent, Power Grid Corp at 3.02 percent. Tata Motors and Bharti Airtel have also gained between 1.3 and 1.96 percent. Eicher Motors leads the Nifty gainers with 4.36 percent with SBI, ICICI Bank, Power Grid Corp, Grasim. Shares of Hindalco, Asian Paints, L&T, Tech Mahindra, Wipro trade lower on the NSE index, while Sensex laggards include Asian Paints, L&T, Wipro, Kotak Mahindra, Infosys. Among sectoral indices on the BSE, Realty, Power, Bankex, Auto, Utilities, Finance, Basic Materials trade higher by up to 1.31 percent, while Teck, Metal, Capital Goods, IT decline. On the NSE, PSU Bank indice has now cooled off to 3.89 percent, after surging over 4.5 percent earlier. IT, Media, Metal continue to be in the red.

Jul 26, 2018 1:06 PM

Europe opens higher after US-EU trade gathering##Europe opens higher after US-EU trade gathering

Jul 26, 2018 1:02 PM

Nifty PSU Bank surges over 4%##Nifty PSU Bank surges over 4%

Closing Bell: Sensex, Nifty end at record highs, Nifty PSU Bank at 6%, Yes Bank falls post Q1 results
Jul 26, 2018 12:22 PM

SBI hits near 6-week high##SBI hits near 6-week high


Shares in State Bank of India rose as much as 4.62 percent to Rs 284.50 rupees, its highest since June 15. The public sector bank's shares rose for eighth straight session, their longest rally since April 2013 and the stock is up 8 percent in last 7 sessions. At 11.05 am, shares of SBI traded at Rs 284, rising by 4.47 percent, or adding Rs 12.15 in value on the NSE. On the BSE, the stock trades at Rs 284.05, rising by 4.64 percent, or by Rs 12.60. The SBI stock breaks above a resistance at Rs 279.05, the 50 percent Fibonacci projection level of the uptrend from April 26 low to June 13 high.

Stock also breaks above its 200-day exponential moving average on Wednesday, seen bullish for the stock. Stock’s wave pattern suggests it’s in wave 3 of a five-wave cycle; the current wave is expected to rise up to Rs 294.14, the 76.4 percent Fibonacci projection level, or higher. Some resistance is expected at Rs 285.79, the 61.8 percent projection level, while support is at Rs 272.3 and Rs 263.95 from the 38.2 percent and 23.6 percent projection levels. MACD is positive and above its signal line. The SBI share is down 12.3 pct this year as of last close, while the broader NSE index is up 5.7 percent in the same period. (Reuters)

Jul 26, 2018 12:16 PM

Canara Bank rises to near 6-week top on positive Q1 results##Canara Bank rises to near 6-week top on positive Q1 results

Shares of state-run Canara Bank Ltd rose as much as 5.19 percent to Rs 272.40, their highest since June 15. At 12.06 pm, Canara Bank traded at Rs 274, rising by 5.81 percent, or adding Rs 15.05 on the NSE. Intra-day, it has touched a high of Rs 275.50 and a low of Rs 262.70, after opening at Rs 268. It last closed at Rs 258.95. The bank reported a surprise 11.9 percent rise in June-quarter net profit at Rs 281 crore. Motilal Oswal increases profit after tax estimates sharply for FY19/FY20 to account for improved operating performance but maintains a cautious tone on asset quality. Around 10 million shares changed hands, compared with 30-day average of about 5.8 million shares. Two of 18 brokerages covering the stock rate it “buy” or higher, five “hold” and 11 “sell” or lower; median price target Rs 270. The Canara Bank stock is up for a sixth straight session, and is the top percent gainer on Nifty PSU Bank index, which too has surged over 4 percent. (Reuters)

Jul 26, 2018 12:14 PM

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