NSE Nifty failed to breach the historic milestone of 10,000 points today, even as a late afternoon spurt gave the traders a fresh hope, after making sequential record intra-day highs as the markets waited with baited breath for it to hit the mark. However, both Nifty and Sensex ended Monday’s trading at new closing highs, with Nifty making an intra-day high of 9,182.05 points, and Sensex hitting 32,320.86 during the day.
Index heavyweights Reliance Industries Ltd, ITC Ltd and Tata Consultancy, were leading since the morning and continued their support through the day, contributing to over half the gains and taking Nifty to just 18 points shy of a new level in its journey. Most sectoral indices were in green, with the Nifty Small Cap, Nifty Bank, and the NSE Nifty-50 itself, making new all-time highs today. Nifty Small Cap index outperformed the benchmark indices today, while Nifty PSU Bank index too was trading strong in the morning, rising 1.4%.
Banking shares were among the stocks seeing heavy buying today on the back of better-than-expected financial results. Oil and gas, and IT stocks were also heavily bought. HDFC Bank shares spiked as much as 1.8% after robust Q1 results. Fiscal first quarter net profit for India’s largest bank rose 20% on-year to Rs 3,893.84 crore, broadly in-line with estimates. Meanwhile, continued buying by foreign funds and domestic institutional investors has also helped the key indices to hit record hits, brokers said.
Here are live updates:
3.40 pm: Nifty missed making history by a whisker, falling short of the historical 10,000-mark by barely 18 points at the day’s high. The NSE benchmark, however, settled at a new record closing high of 9,966.4 points (provisional). Shares of Reliance Industries, HDFC Bank and ITC continued their relentless efforts to pull the index up to the point of close, but some caution prevailed. Traders are now looking for more cues from further corporate earnings, that could help Nifty scale the magic mark of 10,000 in the coming days. Meanwhile, BSE Sensex, which touched an all-time high of 32,320.86 points today, settled at record closing high of 32,245.87, up 217 points.
3.15 pm: 10,000 remains elusive on Nifty as the trading enters its last leg. Nifty see-saws between 9,960 and 9,980 as Reliance Industries, Tata Consultancy Services, ITC and HDFC Bank try their best to pull the index up, but HDFC, Vedanta and Indian Oil Corp drag. Market now looks for more corporate earnings cues.
2.45 pm: BSE Sensex, meanwhile, breached another minor mark of 32,300 before falling a little to 32,245 points.
2.40 pm: Just when the traders went back to their work as usual, slightly disappointed after Nifty failed to breach the 10,000-mark even after five hours of trading on Monday, the market saw another spurt, with NSE’s 50-share benchmark breaking out to breach 9,980 points in the late afternoon trade on Monday. As in the morning, the top gainers on the charts still are Reliance Industries, Wipro and Tata Consultancy Services, all up over 2% each. HDFC Bank, recovered once again after paring initial gains, and rising by 1.5%, was a major contributor to Nifty gains.
2.15 pm: Nifty has made another spurt in the late afternoon trade, rising to a fresh all-time high of 9,977.35 points, and is now hovering just 25-30 points shy of the historical 10,000-mark. The late afternoon upmove was again fueled by heavyweights Reliance Industries, HDFC Bank and Tata Consultancy Services. Bank Nifty extended morning gains, and was up 186 points at 24,443.6.
1.30 pm: As the markets enter into the late afternoon trade, Nifty is still hovering around its morning levels, staying 35-40 points short of hitting the historical 10,000-mark. The benchmark NSE-50 index already made sequential fresh all-time highs today, rising to 9,970 points. Reliance Industries has slipped to the second spot in the top gainers lists, giving the position to Wipro, but is still up over 2% and is the biggest contributor to the gains on Nifty, which is up 50 points at 9,965. HDFC Bank shares pared gains, and were trading up 1%, after rising to a high of Rs 1,738.
1.00 pm: Nifty makes yet another life-time high, surging to 9,970 points in afternoon trade, helped by HDFC Bank shares, which spiked as much as 1.8% after robust Q1 results. Fiscal first quarter net profit for India’s largest bank rose 20% on-year to Rs 3,893.84 crore, broadly in-line with estimates. Reliance Industries, up 2.4%, continues to be the lead gainer on the index, with Wipro also up over 2% on the back of the announcement of a mega share buyback of worth Rs 11,000 crore. ITC trades firm after hiking cigarette prices by 6-7%, following the hike in GST cess on cigarettes last week.
12.40 pm: Nifty August futures hit 10,000 ahead of July F&O expiry this week, giving fresh hopes on the index also breaching the magic mark today. Nifty is still firm near its all time high of 9,968.95 which it hit earlier today, and is just shy of 10,000-mark by about 33 points.
12.30 pm: Nifty is still hovering around 9,960 points, short of the magical 10,000-mark by about 40 points, and below its all-time high of 9,968.95 which it hit early morning today. HDFC Bank’s fiscal first quarter results were broadly in line with the estimates, with the net profit at Rs 3,894 crore. However, NPAs rose, with gross bad loans up at 1.24% from 1.05% at the end of the previous quarter. The earnings failed to cheer the street any further that its usual trading levels today.
12.00 noon: Nifty is yet to breach the 10,000 mark, but is holding firm just shy of it by 36 points. The sectoral indices were trading in the green, with Bank Nifty up by 132 points. Reliance Industries continued to gain, and is up 2.42% from the previous close. Wipro too was trading up by nearly 2%.
11.30 am: The markets are still holding firm but Nifty keeps shy of 10,000. Reliance Industries has extended gains, and is up 2.41% from the previous close. Bank of Baroda has seen a surge in late morning trade, rising 2%. ITC is still among the top gainers, as increased cigarette prices are seen offsetting the impact of hike in GST cess.
11.00 am: Nifty is just 33 points away from making history. Trading at 9,966.9 points, NSE Nifty-50 has already made a new all-time high today. Meanwhile, benchmark Sensex has breached 32,200 for the first time and is firmly trading above it at 32,223 points.
10.30 am: Markets are not only holding firm but continue to advance after hitting fresh record highs this morning. Reliance Industries is up about 2% after last week surprising the street with its quarterly earnings, bonus share issue announcement and launch of JioPhone, which could potentially disrupt the voice and data telephony market in India even further.
10.00 am: Nifty 50 has its eyes firmly set on 10,000 today on anticipation of strong corporate earnings and ahead of the F&O expiry this week. ITC Ltd is among the shares leading the gains on the index, rising about 1.8% on TV news reports that the tobacco major has raised cigarette prices by about 6-7% after the government hiked the rate of cess on cigarettes under GST last week.