Author: Ajay Vaishnav

Sensex at fresh record high, Nifty starts above 11,050

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The BSE Sensex on Wednesday scaled a fresh record high of 36,747, while the Nifty started above 11,050 mark, 100 points away from its record high.

Indian market was seen extending Tuesday’s broad-based gains in the opening, tracking positive cues across global markets.

Investor sentiment was buoyed by strong corporate earnings posted by Federal Bank, Zee Entertainment, Ashok Leyland, ICICI Lombard and several others.

The Indian rupee too opened stronger at 68.42 against the US dollar after Tuesday’s close of 68.45.

However, the benchmark indexes were later dragged by MidCaps. The Sensex dropped to 36,586.67, while the Nifty stood at 11,036.30.

Shares of HDFC Bank, HDFC, Zee Entertainment, UltraTech Cement, ONGC, Adani Ports, Eicher Motors, Sun Pharma gained on both indexes, while the laggards included Lupin, UPL, Hindalco, Ideal Cellular, Bharti Airtel, Vedanta, Tata Steel, Tata Motors on both indexes.

HUL slided on the second day after brokerages downgraded the stock’s rating post June quarter results.

Among sectoral indices on the BSE, only oil and gas surged over a percent, while telecom traded below a percent. On the NSE, Nifty Media was leading with gains of 0.83 percent.

Shares of Punjab National Bank (PNB), Indian Overseas Bank (IOB), Andhra Bank, Corporation Bank and Allahabad Bank reacted positively on the government’s capital infusion plan.

Track latest market updates with CNBC-TV18’s live blog

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Sensex rebounds, Nifty reclaims 11,000 level; HUL, Bharti Airtel decline, Federal Bank surges

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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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.

(Market update as of 3pm)

Markets advanced higher in the afternoon session

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.

(Market update as of 1.40 pm)

Here’s how the markets performed around noon

The market was trading marginally higher with the Sensex going up by 50 points to 36,373 and the Nifty remaining above the 10,950 mark, at 10,965.90.

MidCaps on both indexes rose by nearly a percent, recouping from Monday’s sharp losses. HPCL, Cipla, Sun Pharma, ICICI Bank, Tata Steel, Wipro, Tata Motors were among the top gainers, while Hindustan Unilever, Bharti Airtel, IndusInd Bank, NTPC, Eicher Motors were among the losers on both indexes.

Hindustan Unilever fell as much as 2.9 percent to Rs 1,701 in its biggest intra-day percent fall since May 2. The FMCG major had posted 19 percent rise in June-quarter profit on Monday, but missed street estimates as cost of materials climbed 16 percent.

Barring Eicher Motors, auto stocks were mostly trading higher, recouping some of Monday’s losses over CNBC-TV 18 report that the government had decided to alter rules pertaining to load carrying capacity of trucks and heavy commercial vehicles.

Most sectoral indices on the BSE traded in the green, except FMCG. BSE healthcare, consumer durables, oil and gas gained over a percent each.

On the NSE, PSU Bank and pharma were leading with 1.16 percent and 1.44 percent gains respectively. Nifty Energy rose 0.82 percent.

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Auto stocks trade mixed on new load carrying rules; Ashok Leyland, Tata Motors rise, Eicher Motors down

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Auto stocks traded mixed on Tuesday, shrugging off concerns emanating from the Narendra Modi government’s new rules raising the existing load carrying capacity of trucks and heavy commercial vehicles.

Commerical vehicle makers, Ashok Leyland, was trading at Rs 127.50, rising by 1.39 percent on Monday. The stock had closed at Rs 125.75 on Tuesday. Ashok Leyland stock closed at Rs 128.50, adding Rs 2.75, or 2.19 percent higher on the BSE.

Eicher Motors traded at Rs 27,195.05, down by 0.72 percent or Rs 197.50, further declining from its previous close of Rs 27,392.55. The scrip finally settled at Rs 27,215.95, losing Rs 176.60, or 0.64 percent on the BSE.

Home-grown automaker, Tata Motors, is up by 1.87 percent, trading at Rs 256.25 after yesterday’s close of Rs 251.55. The stock rose to Rs 257.60, adding Rs 6.05, or 2.41 percent in the end on the 30-share index.

Mahindra and Mahindra, India’s biggest tractor manufacturer, shares were also up by 1.23 percent at Rs 911.50, from its previous close of Rs 900.40.  M&M stock settled at Rs 921.10, gaining 2.30 percent, or Rs 20.70 on the BSE.

The BSE Auto traded higher by 0.62 percent, while the Nifty Auto too rose 0.60 percent. Nifty Auto posted gains of 1.20 percent in the end, while the BSE Auto closed higher by 1.26 percent.

As many as 14 stocks advanced on the Nifty Auto, while one declined and one remains unchanged.

Auto stocks were hit yesterday over concerns that the increase in carrying capacity would affect demand for commercial companies.

The development came after CNBC-TV18 first reported on Monday that the government is set to revamp existing policy, necessitated by the violation of old loading norms, improvements in road quality and vehicular technology.

The rules have been amended after 35 years and under the new norms, the loading capacity for different categories of trucks will go up by 15-25 percent.

Industry as well as All India Traders Welfare Association are analysing the impact of new rules.

In an exclusive interview to CNBC-TV18, Ashok Leyland, managing director and chief executive officer, questioned the logic behind enhanced limits.

He said, “It’s rather confusing at this point because somebody who has bought a vehicle let us say for 25 tonne, that vehicle has been designed for 25 tonne, braking has been designed for 25 tonne and everything on the vehicle, chassis has been designed for 25 tonne. I know that suddenly if they put in something where people can carry extra load and while they are saying that they will now be extra stringent on the penalties, I do not know to what extent that is possible.”

All India Transporters Welfare Association (AITWA) president Pradeep Singal told CNBC-TV18 that he tried to reach out to the government for clarifications with respect to load carrying.

He expects freight rates to fall post government’s notification for load carrying.

However, industry analysts aren’t amused. SP Singh of Indian Foundation of Transport Research & Training, questions the government’s rationale behind the decision.

“Overloading should become zero tolerance post this notification. 70% of fleet is currently being overloaded. All vehicles on road will be allowed to carry excess load. Government has to give clarity on what the rationale is behind this decision,” Singh told CNBC-TV18.

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Market opens flat; OMCs gain, IT shares fall

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian market opened on a flat note on Tuesday due to mixed global cues but surged later as oil marketing companies turned positive on fall in oil prices.

The Sensex, soon after the opening bell, was trading higher by 74 points to 36,396.96, while the Nifty was still below 11,000 mark, at 10,969.60.

MidCaps edged higher after Monday’s losses. The Nifty MidCap was trading 0.53 percent higher, while the BSE MidCap rallied by 0.63 percent. Among sectoral indices on the BSE, FMCG was down by 0.24 percent, Energy and Oil and Gas gained 1.46 percent and 2.05 percent respectively. On the NSE, all sectoral indices were trading in the green except FMCG.

Shares of Oil marketing companies surged along with Yes Bank, Tata Motors, Tata Steel, Reliance on both indexes. The laggards included Hindustan Unilever, IndusInd Bank, HDFC, Kotak Mahindra, NTPC, Eicher Motors.

The rupee opened stronger against the US dollar at 68.39 against the US dollar on Tuesday. The home currency closed at 68.57 on Monday.

Asian stocks traded mixed with Japan’s Nikkei up by 0.77 percent, while Hang Seng slipped more than 250 points. South Korea’s Kospi surged nearly a percent.

Wall Street also traded mixed overnight with the Standard & Poor’s 500 index slipping 2.88 points to 2,798.43. The Dow Jones industrial average rose 44.95 points. The Nasdaq composite fell 20.26 points to 7,805.72.

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Sensex sheds 236 points, Nifty tests 10,900 mark, pulled by MidCaps, weak Asian cues; Infosys, HUL shares gain

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets declined sharply in the afternoon trade due to selling pressure in pharma, auto, metal and bank shares. The Sensex declined by 236 points, or 0.65 percent, to 36,3.05.41, while the Nifty shed 88.60 points, or 0.80 percent, to 10,930.30 at 3.05 pm.

MidCaps on both indexes fell nearly 2.5 percent. Except IT and Teck, all other sectoral indices on the BSE were trading negatively with maximum decline seen in Realty (3.03 percent), Healthcare (3.02 percent), Telecom (2.79 percent), Industrials and Basic materials (over 2 percent).

On the NSE, Nifty Metal, Pharma, Realty declined over 3 percent. Pharma, in fact, the most by 3.86 percent. PSU Bank declined by 2.36 percent and Media fell 2.34 percent.

Here’s how the markets fared around noon

Indian shares traded lower on Monday after opening flat amid weak Asian cues due to weaker China economic data.

Investors have also adopted a cautious approach ahead of the release of wholesale price index (WPI) and corporate earnings of more than 100 companies this week, including fast-moving consumer goods (FMCG) major Hindustan Unilever Ltd, which is due later today.

At 11.52 AM, the BSE Sensex traded at 36,462.60, lower by 79.03 points or 0.22 percent, while the NSE Nifty 50 was trading below 11,000 level, at 10,975.95, down by 42.95 points or 0.39 percent.

Both the BSE Midcap and Smallcap index were down 1.32 percent and 1.62 percent respectively.

All sectoral indices were in the negative zone, except FMCG (0.16 percent), information technology (IT) (1.42 percent) and teck (1.09) on the BSE.

The BSE Metal, Energy, Healthcare and Realty declined the most by up to 2.22 percent.

On the NSE, the Nifty Pharma declined the most by 2.56 percent, followed by Realty at 2.25 percent.

Other top losers among sectoral indices were PSU Bank at 1.68 percent, metal at 1.83 percent.

Only IT and FMCG traded in the positive zone.

Infosys share price, however, topped the gainers list by rising about 5 per cent even as company’s earnings fell below market expectations.

Top laggards that dragged key indices were ICICI Bank, Tata Motors, Sun Pharma, Yes Bank, RIL, Hero MotoCorp, SBI, M&M, Tata Steel, Vedanta, Coal India, Adani Ports and Axis Bank.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,104.65 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 872 crore on Friday, PTI reported.

Asian shares were lower after China economic data posted weaker growth figures.

Hong Kong’s Hang Seng was down 0.13 per cent, while Shanghai Composite fell 0.47 per cent in early trade. Financial markets in Japan are closed today for a public holiday.

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Market trades in the red amid weak Asian cues; Hindustan Unilever gains ahead of Q1 results

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The BSE Sensex and the NSE Nifty 50 continue to trade lower with the 50-share broader index slipping below the 11,000 mark. The Nify trades at 10,991.50, or 27.40 points lower, or by 0.25 percent, while the Sensex is trading lower by 27.29 points, or 0.07 percent, to 36,514.34 at 10.55am.

Pharma stocks are down with Dr Reddy’s Lab declining by 8.31 percent on the NSE. Other laggards include ICICI Bank, Tata Steel, Tata Motors, Coal India. Gainers include Infosys, Idea Cellular, Tech Mahindra, Hindustan Unilever, Asian Paints, NTPC, IndusInd Bank.

(Market update as of 11am)

Here’s how the markets fared in opening trade

The BSE Sensex and the NSE Nifty 50 opened negative on Monday amid weak Asian cues, after data from China showed the world’s second-largest economy declined in the second quarter, even as concerns over the impact of US-China trade tariffs row persist.

The Sensex opened 14.61 points lower at 36527.00, while the Nifty started just above 11,000 mark, declining 0.15 percent. Nifty Bank opened 0.22 percent lower, while Nifty MidCap was down by 0.17 percent.

At home, investors are awaiting the release of Wholesale Price Index (WPI) inflation numbers today, while also looking forward to corporate earnings of more than 100 companies.

Major Sensex gainers included Infosys, Hindustan Unilever, ITC, HDFC, NTPC, while the laggards included ICICI Bank, Tata Motors, Sun Pharma, Yes Bank, Reliance. The Nifty gainers included Zee Entertainment, Infosys, Tech Mahindra, HDFC, Hindustan Unilever, while Dr Reddy’s Labs, ICICI Bank, Tata Motors, Sun Pharma, Lupin declined.

PC Jeweller was down 22 percent after the company announced withdrawal of buyback offer. Dr Reddy’s tumbled nearly 8 percent.

Among sectoral indices, barring FMCG, IT and Teck, all were trading negative on the BSE. Nifty PSU Bank was down nearly a percent. However, the biggest losers were Pharma (2.04 percent) and Realty (1.33 percent). Metal, Pvt Bank also declined between 0.5 and 0.7 percent.

The Indian rupee opened weaker against the US dollar at 68.55 against its Friday’s close of 68.52.

Asian shares were trading lower with Hong Kong’s Hang Seng declining 0.17 percent. Official data released on Monday showed China’s economy grew 6.7 percent in the second quarter of 2018, in line with market expectations, cooling a bit from the 6.8 percent growth registered in each of the previous three quarters, Reuters reported. The data also showed slower-than-expected growth in China’s industrial output, the report added.

Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers.

The Dow Jones Industrial Average rose 94.52 points to 25,019.41 on Friday, the S&P 500 gained 3.02 points and the Nasdaq Composite added 2.06 points. The S&P 500 posted its highest closing level since February 1. The index is now just 2.5 percent from its January 26 record closing high and up 4.8 percent for the year so far.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nifty, Sensex end flat, IT rises ahead of Infosys Q1 results, MidCaps pull indexes down

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian stock markets closed marginally lower, with the BSE Sensex ending at 36,541, down by 0.02 percent, or 6.78 points lower, while the Nifty 50 ended at 11,018. MidCaps dragged both indexes lower with the Nifty MidCap declining by over a percent. ITC, ICICI Bank and Axis Bank were among top losers.

(Market update as of 3.40pm)

Here’s how the markets fared ahead of the closing

Indian stock markets declined ahead of the close on Friday after trading flat nearly all afternoon, dragged lower by underperformance in MidCaps. The Sensex traded lower by 16.12 points, or 0.04 percent, to 36,532.29, while the Nifty was down by 16.30 points, or 0.15 percent lower, at 11,006.90 at 3pm.

Nifty MidCap declined by 1.14 percent, while BSE MidCap lost 0.86 percent. Most BSE Sectoral indices traded lower, except Energy, IT, Consumer Durables. Realty, Telecom, Industrials, Basic Materials declined over a percent.

NSE PSU Bank declined 2.05 percent, while losses in Media were at 3.24 percent. FMCG declined about a little over a percent. No major change among laggards with SBI, Axis Bank, ICICI Bank, ITC leading the list. Infosys, Wipro, Reliance, Adani Ports, Coal India gained on both indexes.

(Market update as of 3pm)

Here’s how the markets fared in the afternoon session

Indian shares were trading in the green on Friday, tracking firm gains in the Asian peers. The BSE Sensex was trading at 36,613.17, rising by 64.76 points, while the NSE Nifty 50 was at 11,025.10, as they approached the second half of the trading session.

Earlier in the first hour of trading, the Sensex scaled a new high crossing 36,700 mark for the first time, reaching a peak of 36740.07. The 30-share index gained 973.86 points in previous five sessions to close at a record high of 36,548.41 on Thursday.

The Sensex gainers included Coal India, Reliance, Wipro, Infosys, Kotak Bank, HDFC Bank, Adani Ports, TCS, Maruti Suzuki, Asian Paints, HDFC, Tata Motors, while Axis Bank, ONGC, SBI, ICICI Bank, ITC, Bajaj Auto, M&M and Hero MotoCorp were among the losers.

Nifty gainers were Infosys, Wipro, Reliance, Kotak Bank, Coal India, while the laggards were UPL, Bharti Infratel, HCL Technologies, Axis Bank and SBI.

Both MidCaps on benchmark indexes underperformed. The Nifty MidCap was down by more than a percent, while the BSE MidCap declined by 0.82 percent due to selling in bank, consumer and auto counters.

Among BSE sectoral indices, except energy and information technology, all other indices traded lower, with telecom being the worst, down by 1.34 percent.

Sectoral indices on the NSE also traded lower, except Nifty IT. Nifty PSU Bank was lower by more than 2 percent. Realty, FMCG, Media and Auto were also down by up to 1.72 percent.

Public sector bank stocks took a beating after weak Index of Industrial Production (IIP) and inflation data. Bank of Baroda, Punjab National Bank, State Bank of India, Federal Bank were the top losers in the BSE Bankex, falling up to 4 percent.

Asian stocks rose as US China trade war concerns simmer. Hong Kong’s Hang Seng gained 0.58 percent, Japan’s Nikkei rose over 2 percent, while Shanghai Composite Index shed 0.16 percent. Wall Street gained overnight with the US Dow Jones Industrial Average closing 0.91 percent higher led by technology stocks.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex slips after scaling new high, Nifty turns negative; Infosys gains ahead of Q1 results

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The BSE Sensex slipped lower after scaling new high, while the Nifty 50 turned negative around 11am. The Sensex traded at 36,572.63, rising by 24.22 points, or 0.07 percent, while the Nifty holds the 11,000 level. It traded at 11,008.50, down by 14.70 points, or 0.13 percent.

Both MidCaps on benchmark indexes were under performing. Nifty MidCap was down by over a percent, while the BSE MidCap declined by 0.82 percent due to selling in bank, consumer and auto counters.

Among BSE sectoral indices, except Energy, Information Technology and Teck, all other indices traded lower with Telecom down most by 1.34 percent.

Sectoral indices on the NSE also traded lower, except Nifty IT. Nifty PSU Bank was lower by over 2 percent. Realty, FMCG, Media, and Auto were also down by up to 1.72 percent.

(Market update as of 11am)

Here’s how markets fared in the opening session

Indian shares opened higher on Friday tracking positive global cues as focus shifts back on corporate earnings from US-China trade war concerns.

Investor mood is upbeat with Infosys first-quarter results due later in the day as well as after Reliance Industries joining the elite $100 billion market cap club.

Benchmark indexes, the BSE Sensex and the NSE Nifty 50, opened higher on Friday with the 50-share broader index over 100 points away from the record high.

The Sensex started the day at 36,635.10, rising 86.73 points, or 0.24 percent, while the Nifty opened at 11049.30, gaining 26.10 points, or 0.24 percent.

The BSE Sensex surged over 184 points, rising 0.51 percent, to 36,733.20 at 9.52 am. It scaled a new high at 36,740.07 in the first hour of trade.

The Nifty trades at 11,057.80, adding 34.60, or 0.31 percent. Reliance Industries surged to over 2 percent pulling the 30-share index to new high, well-supported by IT stocks led by TCS, Wipro and Infosys as well as HDFC Bank.

Fortis Healthcare, Infosys, Wipro opened higher, while HCL Technologies, Cyient shares declined. Nifty Bank traded flat with a negative bias, while Nifty midcap opened in the green. As many as 241 shares advanced on the BSE against 107 declines.

HCL Technologies’ shares snapped their six-day gaining streak after buyback announcement at Rs 1100 per share declining over 2 percent, while Fortis Healthcare gained over 3 percent after the board approved IHH’s bid at Rs 170 per share. Infosys trades over a percent ahead of its Q1 earnings today.

Other Sensex gainers include Wipro, Coal India, Adani Ports, L&T, with Wipro leading the pack. SBI and ICICI Bank declined over a percent, with other laggards including Bajaj Auto, Axis Bank, ONGC, Bharti Airtel.

Most BSE sectoral indices traded marginally higher, with energy, information technology, consumer durables, metal, oil & gas, trading between 0.5 percent and 1 percent.

BSE midcap is trading marginally lower, while the Nifty midcap was negative by 0.45 percent. As many as 24 scrips advanced on the NSE against 26 declines. Nifty sectoral indices were mixed with PSU Bank declining the most at 1.67 percent, while private banks and financial services were flat.

The rupee opened stronger against the US dollar at 68.37 on Friday, from its previous close of 68.57 on Thursday. The 10-year bond yield opens at 7.78 percent compared to its previous close of 7.77 percent. Bond yields and prices move in opposite directions. HDFC Bank’s Bhaskar Panda expects the rupee to trade in the range of 68.3-68.5 today.

Asian shares advanced higher on Friday, following gains on Wall Street. Nikkei has so far added over 450 points or 2.06 percent to its gains, while Hang Seng is up by over half a percent.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Reliance hits $100 billion market cap, pulls Sensex to fresh record high

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Reliance Industries, the country’s second most valuable company, on Thursday crossed the $100-billion market cap (Rs 6.86 lakh crore), joining the Tata Consultancy Services in the elite club.

The oil and gas-to-telecom behemoth had first crossed the $100 billion market cap in October 2007.

In fact, TCS and RIL combined market cap stands at a whopping 14.5 lakh crore, which, in turn, is equal to the market cap of as many as 23 Nifty companies put together.

The TCS-RIL market cap equals the combined market cap of companies such as UPL, Dr Reddy’s, Lupin, HPCL, India Bulls Housing Finance, Hindalco, Cipla, Zee Entertainment, Tata Steel, Bharti Infratel, Tech Mahindra, Grasim, Hero MotoCorp, Titan, Eicher Motors and several others.

At 11.56 am, Reliance Industries shares were trading at Rs 1,084.50, adding Rs 48.15, or 4.65 percent higher. Reliance Industries had posted a net profit of Rs 8,697 crore in the quarter ended in March 2018. In the December quarter, RIL had posted its highest ever quarterly consolidated net profit of Rs 9,423 crore, up 25.1 per cent from a year ago.

Calling it a landmark move, SP Tulsian of sptulsian.com said, “This is the second company after Tata Consultancy Services (TCS) … I have been keeping extremely positive view on the stock. Continuously I have been giving the buy call on the stock.”

Further, he expects the Reliance Industries to touch Rs 10 lakh crore market cap in the next 30 months on the back of growth in Jio and Retail.

“I am banking on the growth of Reliance Jio and Reliance Retail, increase in the margins of Reliance petchem because of combining it with the Reliance refinery,” he added.

The BSE Sensex touched all-time high of 36699.53 on Thursday, led by Reliance and well-supported by gains in oil, bank and other midcaps.

The Sensex surged over 429 points, or 1.18 percent higher to 36,695.44 at 12.04 pm, while the Nifty was trading at 11,073.05, adding 125 points, or rising by 1.14 percent.

Apart from RIL, major Sensex gainers include Yes Bank (3.14 percent), L&T (1.92 percent), HUL (1.92 percent), SBI (1.91 percent), IndusInd Bank (1.77 percent). HDFC, Coal India, Sun Pharma, Tata Steel , HDFC Bank, ICICI Bank, gained between 1-1.5 percent.

Sensex laggards included Infosys (1.77 percent), M&M (1.03 percent), while Adani Ports, Power Grid, TCS also declined about half a percent.

On the NSE, as many as 34 scrips advanced against 15 declines, while one stock remain unchanged. Except IT and Media, all sectoral indices were trading in the positive zone on the NSE. PSU Bank gained the most at 1.75 percent, while Metal, Pharma, Pvt Bank, Bank, Fin Service also gained over a percent.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

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3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex hits fresh all-time high, Nifty reclaims 11,000, MidCaps pull indexes higher

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian shares continued their rally led by benchmark indexes, the Sensex and the Nifty, pulled, in turn, by MidCaps. The Sensex trades higher by 270.71 points, or 0.75 percent, at 36,536.64, while the Nifty is at 11,029.50, rising by 81.20 points, or 0.74 percent at 10.55am.

Reliance tops among Sensex gainers with 2.47 percent rise, while Yes Bank also gained 2.22 percent. SBI, ICICI Bank, Axis Bank gained over 1.5 percent, while HUL, HDFC, IndusInd Bank, HDFC Bank, ONGC gained over a percent. Other major gainers include Maruti Suzuki, Sun Pharma, NTPC, Bajaj Auto, Asian Paints, Coal India, LT, Kotak Bank.

Infosys lost the most with 1.54 percent, followed by M&M at 1.25 percent on the BSE. Vedanta, Wipro, Adani Ports, ITC, TCS were among other major losers.

BSE MidCap has gained over 0.8 percent, while all sectoral indices were trading in the positive zone except BSE Information Technology, Teck and Telecom. BSE Energy was up over 2 percent, while Finance, Bankex were trading over a percent. Oil & Gas was up 2 percent.

On the NSE, barring IT, FMCG and Media, all sectoral indices traded positive with PSU Bank at 1.81 percent, Fin Service at 1.04 percent, Bank at 1.06 percent.

Nifty gainers include OMCs, Dr Reddy’s Labs, HCL Tech rising by up to 4.32 percent, while losers include Bharti Infratel, Infosys, Gail, TCS, Vedanta, falling by up to 2.57 percent.
(Market update as of 10.55 am)

Here’s how the Sensex, Nifty opened today

Indian stocks rose on Thursday tracking gains in Asian peers, despite US-China trade war concerns.

The BSE Sensex set a new high at 36533.63, crossing the 36,500 mark for the first time, while the Nifty 50 reclaimed 11,000 mark for the first time since February 1 this year.

Reliance Industries gained the most at 1.32 percent. SBI, Bajaj Auto, Maruti Suzuki India, Kotak Bank, Asian Paints, Yes Bank, IndusInd Bank, ICICI Bank, HUL, Coal India, HDFC, Sun Pharma, Tata Motors, Sun Pharma, Hero MotoCorp, were seen trading in the green.

However, TCS, Infosys, Vedanta, Wipro, M&M were trading lower. TCS shares fell on profit-booking after yesterday’ stellar performance.

Barring IT and Telecom, all sectoral indices were trading in the green. MidCaps on both indexes rose nearly a percent. HDFC Bank was at 52-week high, while the Kotak Mahindra Bank was nearing 52-week high.

Asian markets were trading in the green, shrugging off Wall Street losses despite the US-China trade war concerns. Nikkei gained over a percent in trade, while Hang Seng added more than 100 points. Indexes in Taiwan, South Korea and Shanghai were also trading positive.

The Indian rupee opened flat at 68.76 against the US dollar. The rupee closed at 68.77 on Wednesday.

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