1. Market live update: Sensex, Nifty end at record peaks; Hero Moto leads; gold weakens

Market live update: Sensex, Nifty end at record peaks; Hero Moto leads; gold weakens

Indian markets continued the bull run on Thursday on the back of good corporate earnings, sustained fund inflows and normal monsoon forecast, with the benchmark Sensex and Nifty indices making yet another all-time highs above 30,300 and 9,450 respectively.

By: | Updated: May 11, 2017 4:49 PM

Indian markets continued the bull run on Thursday on the back of good corporate earnings, sustained fund inflows and normal monsoon forecast, with the benchmark Sensex and Nifty indices making yet another all-time highs. The BSE Sensex opened firm above 30,300 and hit a high of 30,366.43 points, while NSE Nifty opened above 9450, and went on to hit 9450.65 points. Meanwhile, Asian stocks rose following the MSCI’s global stocks benchmark, which closed on a record high as strong gains in crude oil prices buoyed energy shares.

Here are the live updates:

04:45 pm: Havells India stocks hit its 52-week high after the consumer electricals firm said it would exit from the global market by selling remaining 20 per cent stake in its European lighting business Sylvania to China’s Feilo Acoustics for 34.5 million euros (Rs 241.94 crore). The company also reported its fourth quarter results and posted a decline of 74.10 per cent in its standalone net profit at Rs 94.70 crore for the March quarter. (Read Full Story)

In the national capital, gold of 99.9 per cent and 99.5 per cent purity slumped by Rs 265 each to Rs 28,400 and Rs 28,250 per 10 grams, respectively.

04:25 pm: Today gold prices declined by Rs 265 to Rs 28,400 per 10 grams at the bullion market today on weak trend overseas and fall in demand from local jewellers. Silver also drifted lower by Rs 205 to Rs 38,200 per kg due to reduced offtake by industrial units and coin makers. Traders said apart from a weak trend overseas, easing demand from local jewellers and retailers at prevailing levels at the domestic spot market pulled down gold prices. (Read Full Story)

04:00 pm: Adani ports, Kotak Mahindra Bank, Maruti Suzuki and Eicher Motors shares makes record all-time highs on the broader Nifty 50 while HUL closes below its yesterday’s record high.

03:40 pm: Markets end flat after scaling new lifetime highs; the benchmark BSE Sensex closes up at 0.01% at 30,250.98 points while the broader Nifty 50 ends up 0.16% at 9,422.4 points. Hero Moto Corp, Bajaj Auto lead gains on Sensex while Bharti Airtel closes in red after yesterday’s surge.

03:00 pm: HUDCO IPO continues to gain strength, subscribed 62 times with last day’s bidding still open. (Read More)

02:35 pm: The benchmark Sensex resists above 30,300 level at 30,311.56 pointsNifty 50 up 0.32% at 9,437.65; Eicher Motors, Zee Entertainment and Hero Moto Corp leads on Nifty 50.

02:15 pm: Auto and banking stocks lead, Maruti Suzuki and Kotak Mahindra Bank shares hit a fresh all-time high of Rs 6,789.4 and 940.5 on the broader Nifty 50.

02:00 pm: Government-owned Housing and Urban Development Corporation (HUDCO)’s IPO which opened for bidding on Monday with a goal to raise over Rs 1,120 crore has been subscribed almost 12 times at Noon today.The price band has been set in the range of Rs 56-60 per share. The issue comprises sale of 20 crore equity shares (10 percent paid-up capital) by the central government through an offer for sale (OFS). The offer will close on May 11. (Read More)

01:30 pm: Eicher Motors shares hit the all-time high, rising 7.82% to Rs 30,051; Zee Entertainment rises 5.13% at Rs 542.7.

12:50 pm: Indian shares extended their record-breaking run on Thursday with auto stocks rallying on expectations of lower interest rates after a better monsoon forecast eased inflation fears in a country that depends heavily on rains to irrigate its farmlands. Strong regional markets, tracking a record high close on MSCI’s global stocks benchmark following strong gains in oil prices, also helped sentiment. The broader NSE index rose as much as 0.46 percent to 9,450.65, while the benchmark BSE index gained as much 0.39 percent to 30,366.43, hitting record highs for a second consecutive day. (Read Full Story)

12:30 pm: Markets continues to rise, Sensex up 0.31% at 30,342.25 points, Nifty 50 up 0.41% 9445.8 points. Zee Entertainment rises 4.9%, leads gains on Nifty 50.

12:10 pm: Government-owned Housing and Urban Development Corporation (HUDCO)’s IPO, for which bidding opened on BSE and NSE on Monday, has been subscribed three times on the third day of bidding. At Noon today, the qualified institutional investors had bid more than six times the reserved portion kept for them, while the retail investors had bid more than seven times their quota. But the biggest response came from the non-institutional investors who have subscribed more than 44 times their reserved portion. (Read More)

11:45 am: Hero MotoCorp shares gained nearly 3 per cent on bourses on Thursday despite posting weak fourth quarter results. At 11.05 am, the share price of Hero MotoCorp was trading 1.95 per cent up at Rs 3387.15. The share price opened at Rs 3360 and touched a high and low of Rs 3419.35 and Rs 3295.50, respectively, in trade so far. Sensex was trading 107.94 points up at 30,356.11 during the same time. (Read Full Story)

11.00 am: Bajaj Auto and Hero Moto Corp shares lead Sensex gains, up 2.14% at Rs 2,961.5 and up 1.95% at Rs 3,387.15, respectively, following forecast of a normal monsoon, which is expected to bolster the rural economy and hence boost the demand for 2-wheelers in major market territories. Hero Moto Corp shares beat the yesterday’s results blues when the automaker reported weakness across all key parameters.

10:40 am: India’s fourth largest software company HCL Technologies announced its fourth quarter results on Thursday and posted a growth of 12.30 per cent growth in net profit quarter-on-quarter. Reacting to the results, shares of the company gained over 1 per cent on the bourses. (Read Full Story)

10:25 am: The stock of Mahindra & Mahindra was up 1.54% at Rs 1,397.95 on the BSE. After Indian Meteorological Department revised its forecast of a normal monsoon this year, the tractor business of Mahindra & Mahindra is expected to do well and that’s what driving its stock prices. (Read Full Story)

10:15 am: All the sectoral indices, led by metal, healthcare, auto and banking, were trading in green with gains of up to 1.02 per cent. The 50-share NSE Nifty gained 43.35 points, or 0.46 per cent, to quote at a life-time high of 9,450.65. The gauge had touched an intra-day high of 9,414.75 in yesterday’s trade. Major contributors to the key indices were Tata Steel, M&M, Lupin, ONGC, Cipla, Axis Bank, ITC Ltd, ICICI Bank, Sun Pharma, Adani Ports and SBI, gaining by up to 1.42 per cent. (Read More)

10:10 am: The rupee made a comeback early on by recovering 14 paise to 64.49 against the dollar at the Interbank Foreign Exchange today after fresh selling of the US currency by exporters amid foreign fund inflows and a higher opening in the domestic equities market. Besides, a weak dollar overseas also supported the rupee, forex dealers said. (Read More)

09:50 am: Sensex up 0.17% at 30,302.27 points, Nifty 50 up 0.26% 9431.45 points. Bank Nifty hit the all-time high at 22,919.3 points.

09:20 am: Indian markets opens higher beyond the record highs of yesterday, the benchmark BSE Sensex up 0.2% at 30,309.71 points while Nifty 50 up 0.43% at 9448.6 points.

 

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