1. LIVE: Sensex closes at new high, Nifty settles above 9650; Hero Moto, HDFC end at record highs

LIVE: Sensex closes at new high, Nifty settles above 9650; Hero Moto, HDFC end at record highs

Indian markets close at new record highs with BSE Sensex up 0.44% or 135.7 points at 31,273.29 points whereas NSE Nifty 50 settles above 9650, up 0.39% or 37.4 points at 9653.5 points. Hero MotoCorp and HDFC made new record highs of Rs 3,857.5 and 1,612.8 respectively.

By: | Updated: June 2, 2017 3:52 PM
Auto, FMCG, Media, Pharma, Realty sectors gain up to 1.64%, further Nifty Auto and Nifty FMCG of NSE also hit record highs at 10,992.7 points and 26,429.2 points before closing.

Domestic equity markets opened strong on Friday tracking their global counterpart. The benchmark BSE Sensex climbed by 194.97 points or 0.62 per cent, to hit an all-time high of 31,332.56 in opening trade. NSE Nifty also climbed to a new peak of 9,673.50 in opening trade. At 9.35 am, Sensex was trading 148.29 points up at 31,285.88, while NSE Nifty was trading 44.80 points up at 9,660.90.

The Indian rupee also continued its rising streak and was trading 14 paise to 64.34 against the US dollar in early trade at the Interbank Foreign Exchange market on Friday on sustained selling of the American currency by banks and exporters. It had closed 3 paise up at 64.48 in Thursday’s trade.

Global markets hit a record high on Friday and Asian markets rose to their best levels in more than two years as upbeat data on US manufacturing and employment and buoyant European factory growth boosted investor optimism.

The MSCI ACWI, an index of 46 stock markets in the world, hit a record high, having gained 0.5 percent so far this week.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.6 per cent, led by gains in Korea, while Japan’s Nikkei gained over 1 per cent to top the psychologically important 20,000-point level for the first time since August 2015.

Here are the live updates:

03:30 pm: Indian markets close at new record highs with BSE Sensex up 0.44% or 135.7 points at 31,273.29 points whereas NSE Nifty 50 settles above 9650, up 0.39% or 37.4 points at 9653.5 points. Hero MotoCorp and HDFC made new record highs of Rs 3,857.5  and 1,612.8 respectively. Auto, FMCG, Media, Pharma, Realty sectors gain up to 1.64%, further Nifty Auto and Nifty FMCG of NSE also hit record highs at 10,992.7 points and 26,429.2 points before closing.

03:10 pm: Dwarikesh Sugar Industries Ltd today said its board has approved splitting of equity shares to enhance liquidity and increase investor base. The existing shareholders will get 10 new equity shares for every 1 currently held by them, the company said in a regulatory filing. The board, in its meeting held today, approved “sub-division of existing 1 equity shares having face value of Rs 10 each fully paid up into 10 equity shares having face value of Rs 1 each, subject to the approval of members”, it said.

02:47 pm: The broader Nifty 50 holds above 9,600, trade up 0.39% or 37.9 points at 9654 points. The major gainers in the index includes Cipla (up 3.06%), Aurobindo Pharma (up 2.91%), Hero MotoCorp (up 2.9%), Adani Ports (up 2.62%), Yes Bank (up 2.59%) while the benchmark Sensex trade up over 125 points at 31,263.55 points.

02:32 pm: Gold price drifted lower by Rs 100 to Rs 29,250 per 10 grams today at the bullion market today, tracking a weak trend overseas amid slackened demand from local jewellers. Silver followed suit and slumped below the Rs 40,000-mark by plunging Rs 850 to Rs 39,300 per kg on poor offtake by industrial units and coin makers.

02:16 pm: The heavyweights drive the Sensex (up 0.41% at 31,265.37 points) to new highs. The top five contributors in the upsurge include the market favourites, HDFC twins, FMCG major ITC, biggest two-wheeler maker (by sales volume) in the world and the largest telecom operator in India, Airtel.

This image shows the point-wise contribution of 10 stocks of Sensex which are contributing the most to the index. (Source: BSE)

01:55 pm: A 10% surge over six weeks swept Japan’s Nikkei stock index above the 20,000-point barrier for the first time since late 2015 on Friday, without dispelling doubts about the rally’s shelf life given the outlook for automakers, banks and the yen. Data shows foreign investors, who make up 70% of trading activity in the Tokyo market, rushed to cover short positions as a rally from the year’s low on April 17 gathered momentum. But the data also shows foreigners avoided making heavy bullish bets, probably because analysts expect Japan Inc.’s earnings growth to falter.

01: 35 pm: India’s GDP growth is expected to recover from 7.1% in 2016-17 to 7.2 per cent this fiscal and further to 7.7% in 2018-19 largely driven by the government’s reform push and recovery in private investments, says a UBS report. According to official data, India’s growth rate slipped to 6.1% in the January-March quarter and 7.1%, during 2016-17. Global financial services major UBS said the gradual pace of recovery will help improve productivity dynamics and lay the foundation for sustainable growth.

01:15 pm: NSE Vice Chairman Ravi Narain had put in his papers amid regulators intensifying their probe into alleged lapses in high-frequency trading offered through the exchange’s ‘co-location’ facility. Sources said Narain stepped down as Vice Chairman to ensure that Sebi is able to take appropriate steps in the co- location case in a fair manner.

12:55 pm: Shares of GMR Infrastructure today soared nearly 20% on reduction in the company’s gross debt. After making a positive opening, the stock further zoomed 19.73% to Rs 17.90 as the trade progressed on BSE. On NSE, shares of the company jumped 19.73% to Rs 17.90.

12:30 pm: Japan’s Nikkei share average broke through the 20,000-point level for the first time since December 2015 on Friday as strong US economic data and a weaker yen boosted investor confidence. The Nikkei climbed 1.6 percent to 20,177.28 points, its highest close since mid-August 2015. For the week, it gained 2.5 percent. Both trading volume and turnover were heavy, with 2.3 billion shares changing hands on the main board with a trading value of 3.2 trillion yen, both the highest level since May 8.

12:10 pm: Indian shares climbed to fresh highs on Friday, heading for a fourth consecutive week of gains tracking upbeat Asian markets, with automakers such as TVS Motor Co Ltd riding high on robust monthly sales data. Asian markets rose to their best levels in more than two years as positive data on US manufacturing and employment and buoyant European factory growth boosted investor optimism. For the week, the NSE index was on track to gain 0.6 percent, while the BSE index was set to add 0.8 percent. Bharti Airtel Ltd led gains on the NSE, climbing as much as 3.9 percent, on receiving approval from the capital markets regulator and stock exchanges for its merger with Telenor India.

11:50 am: The Nifty 50 heavyweights Hero MotoCorp and HDFC continue the gaining streak, both the stocks hit a new lifetime high of Rs 3,849.95 and Rs 1,612.8 respectively, while on the other hand, few midcaps too hit their respecitive 52-week highs today which includes, UPL (Rs 882.95); Motherson Sumi (Rs 457.9); LIC Housing Finance (Rs 743.15); Pidilite Industries (Rs 789).

11:35 am: Private equity firm KKR & Co said on Friday it raised $9.3 billion for its most recent Asia-focused buyout fund, more than expected and setting a record for the region as it looks for larger deals. Topping its initial target of $7 billion, the size of its Asian Fund III underscores greater opportunities and appetite for deals in Asia Pacific, where private equity firms are increasingly looking to buy control of companies.

11:15 am: Indian markets hold the morning upsurge with NSE Nifty up 0.46% or 44.15 points at 9,660.25 points while BSE Sensex hovers around 31,300. Bharti Airtel up over 3%, leading the gains on both the indices and the shares of HDFC hit a fresh record high of Rs 1,609.4.

10:55 am: All the sectoral indices of NSE trade in green except to Nifty Metal (down 0.35%) whereas Nifty Pharma (up 1.11%) rise for the second consecutive day after the dull show since past week, Nifty Auto (up 0.72%), Nifty FMCG (up 0.56%) and Nifty Media (0.51%) also trade in green.

This image shows all the sectoral indices of NSE trading in green except Nifty Metal. (Source: NSE)

10:35 am: The shares of heavyweight blue-chips HDFC and HUL hit a fresh all-time high at Rs 1,604 and Rs 1,103 respectively on NSE while the metal sector stocks, Tata Steel, Vedanta, Hindalco lose up to 1% in the wee hours of trading.

10:20 am: Markets resumed their record-setting spree to hit fresh lifetime highs in opening trade today on sustained buying amid positive global cues. All the sectoral indices, led by healthcare, metal, auto, teck and oil & gas were trading in the positive zone with gains up to 0.86%. Stocks of auto majors including Maruti Suzuki, Mahindra and Mahindra, Hero MotoCorp and Tata Motors were in demand and rose by up to 1.90 per cent on the back of strong May sales data.

09:51 am: Cadila Healthcare stocks were trading 6.04 per cent up at Rs 499.40 after Zydus Cadila received the final approval the USFDA to market Levofloxacin Injection, 500 mg/20 mL and 750 mg/30 mL (25 mg/mL). Levofloxacin is used in the treatment of bacterial infections and will be produced at the groups’ formulations manufacturing facility at Moraiya, Ahmedabad. Sensex was trading 95.89 points at 31,233.48, while NSE Nifty was trading 27.85 points up at 9,643.95.

With inputs from Reuters and PTI.

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