Sensex closes above 33,700 level for the first time; consumer durables stocks log maximum gains
Oil prices hit their highest since July 2015 as Saudi Arabia's crown prince Mohammed bin Salman's purge led to arrests of royals, ministers and investors including prominent business billionaire Alwaleed bin Talal.
The Sensex closed 45.63 points or 0.14 percent higher at 33,731 level on Monday with consumer durables stocks leading the gains on the back of better-than- expected earnings by blue-chip companies. The BSE consumer durables index closed 8.60 percent or 1598 points higher at 20,201 level. The Nifty closed 0.01 percent or 0.70 points lower to 10,451 level. The Sensex rose nearly 160 points to breach its historic high of 33,800 level in afternoon trade and hit an all time high of 33848 level during intra-day trade. Titan Company (18.98 percent), PC Jeweller (6.19 percent) and Crompton Greaves (3.11 percent) were among others were the top gainers on the BSE consumer durables index. The Titan stock rose up to 25 percent in Monday's trade on the back of robust Q2 earnings. We look at key highlights, which affected the market today.
3:55 pm The 50-issue NSE Nifty, which smashed all records to touch a fresh life-time high of 10,490.45 during the day. The gauge had closed at a record 10,452.50 on November 3.
3:40 pm: The Sensex breached the previous closing record of 33,685.56 and intra-day record of 33,733.71 hit on November 3.
3:35 pm: BSE auto index rises 1.18 percent, realty index up 0.35 percent.
3:13 pm: Welspun Corp appoints Vipul Mathur as MD, CEO.
3:00 pm:"The results season is in the middle of completion. Mixed numbers have come out. No clear trend is emerging to state forcefully that all is well with the economy. Some pockets are impacted but some are still unclear what would be the impact of GST/demonetisation," said Jimeet Modi, Founder and CEO, SAMCO Securities.
2:45 pm: The Indian Bank stock rises up to 10 percent on the BSE after the public sector lender logged a 11.45 percent rise in net profit to Rs 451.54 crore in Q2.2:15 pm: "In the near term, market will continue to gauge on the ongoing Q2 results," Vinod Nair, Head of Research at Geojit Financial Services said.
2:10 pm: Oil and Natural Gas Corporation (ONGC) shares up 4 per cent at Rs 199 in mid-day trade; the stock is top percentage gainer on the NSE Nifty.
2:00 pm: Housing and Urban Development Corporation (HUDCO) September-quarter profit falls about 2 percent to Rs 202 crore against profit of Rs 206 crore an year ago; shares rise 0.35 percent to Rs 86.55.
1:45 pm: "The markets are seeing some sort of correction, and a bit of profit-booking, which was natural following record highs last week," said Sudhakar Pattabiraman, head of research operations at MarketSmith, which is part of financial services provider William O'Neil.
1:30 pm: Piramal Enterprises Q2 consolidated net profit at Rs 384 crore against profit of Rs 306 crore last year. Stock rises 3.5 percent to Rs 2,777 on BSE.
1:15 pm: Public sector lender Indian Bank logged a rise of 11.45 per cent in net profit at Rs 451.54 crore in Q2 as bad loans fell although provisioning to cover for such assets was raised. The bank made a net profit of Rs 405.14 crore in the corresponding quarter of the previous fiscal.
12:46 pm: "Sentiment continues to be positive. However, rising crude prices remains to be a concern for the Indian markets," Anita Gandhi, Whole Time Director at Arihant Capital Markets told PTI.
12:40 pm: The Mahindra and Mahindra (M&M) stock rose up to 3 percent or 1,372 level after the Anand Mahindra-led firm said its board would consider issue of bonus shares in a meeting on November 10. At 12:41 pm, the stock was trading 2.07 percent or 27 points higher at 1358 level on the BSE.
12:01 PM: Market breadth was positive with 1420 stocks rising against 1108 falling on the BSE.
11:57 am: Indian firms mobilised over Rs 36,000 crore through issuance of shares to institutional investors during April-September period of the current fiscal, a 13-fold rise from the year-ago period. Capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 36,653 crore in the first six months of 2017-18. In comparison, firms had mopped-up Rs 2,818 crore in April-September period of 2016-17, as per the latest data available with Sebi.
11:55 am: Motilal Oswal Financial Services posted a 41.18 per cent jump in its consolidated net profit at Rs 144 crore for the September quarter, backed by strong growth across all businesses. The company had reported a net profit of 102 crore during the corresponding quarter last fiscal.
11:51 am: BSE Ltd reported a 29.9% y-o-y rise in its net profit (from the continued operations - as it divested its stake from CDSL Ltd) to Rs 66.83 crore as compared to Rs 51.45 crore in Q2FY2017 whereas q-o-q it rose 34.4% from Rs 49.730 crore.
11:47 am: The BSE Consumer Durables index is contributing most to the Sensex, with gain of 7.74 percent or 1,440 points to 20,042 level.
11:34 am: Indian companies have raised a record amount of nearly Rs 57,000 crore through initial public offerings so far this year, but more than Rs 45,000 crore has gone to promoters and other existing shareholders leaving only 20% funds for the firms' growth and expansion plans.
10:37 am: Shares of Reliance Nippon Life Asset Management listed on NSE today at a 17 percent premium over issue price. The scrip listed at Rs 295.90 on NSE, a 17.42 per cent premium over its issue price of Rs 252. On the BSE too, the stock was trading 14.29 percent or 36 points higher at 288 level over the issue price.
10:11 am: After two months of intense selling, foreign investors turned net buyers in October to invest Rs 3,055 crore in stocks, enthused by the government's Rs 2.11 lakh crore bank recapitalization plan. However, mutual fund investments declined by 21% to Rs.37,920 crore as compared to the preceding month.
9:44 am: Titan stock trading 15.77 percent higher at 761 level on the BSE. The stock rose up to 22% in early morning trade. Jewellery-to-watch maker Titan Company on Friday reported a whopping 67.4 percent growth in consolidated profit, driven by jewellery business.Profit for Q2 rose to Rs 278 crore, from Rs 166 crore in corresponding quarter last fiscal. Revenue from operations grew by 29.6 percent year-on-year to Rs 3,473 crore.
9:35 am: Foreign exchange reserves fell for the second straight week by $1.160 billion to $398.761 billion. The reserves, which act as a cushion against dollar outflows, fell $1.560 billion in the last two weeks amid concerns over tightening of global monetary easing.
9:25 am: Reliance Nippon to list on the stock exchanges today.
9:10 am: Stock of M&M is in focus as the board will consider bonus issue of shares on November 10.
9:05 am: Rupee opens at 64.67 level. Indian rupee closed at fresh six-week high against the US dollar at 64.55 against the dollar, up 0.1% from its Thursday's close of 64.61. So far this year, the rupee has gained 5.13%.
9:14 am: Oil prices hit their highest since July 2015 as Saudi Arabia's crown prince Mohammed bin Salman's purge led to arrests of royals, ministers and investors including prominent business billionaire Alwaleed bin Talal.
South Korea's KOSPI fell 0.5 percent. Australian shares were off 0.1 percent but stayed within striking distance of a more than two-year peak set on Friday. Hong Kong's Hang Seng Index skidded 1 percent.
Japan's Nikkei was a tad softer too but hovered around a 21-year peak.
The losses in Asian shares came despite gains in Wall Street on Friday, with the Dow Jones Industrial Average up 0.1 percent, the S&P 500 gaining 0.31 percent and the Nasdaq adding 0.74 percent.