Benchmark indices BSE Sensex and NSE Nifty advanced for sixth consecutive trading session on Monday on account of buying in frontline blue chip counters. Market sentiments remained strong due to firm rupee, progress of monsoons and strong global cues.
The 30-share index closed 133.85 points up at 27,278.76, while the 50-share index ended 42.35 points up at 8,370.70.
In the 50-share index, BHEL, Adani Ports, Tata Motors DVR, ICICI Bank and ONGC gained between 3 per cent and 4.52 per cent. On the other hand, ITC, Bosch, Kotak Mahindra Bank, IndusInd Bank and Grasim lost between 1.35 per cent and 2.68 per cent.
Asian markets closed higher on Monday, as speculation that global central banks will act to contain any Brexit effect on economic growth and fading expectations of a US rate increase this year underpinned a recovery in commodity prices. Chinese shares hit two-month high, with higher metal prices and hopes that Beijing will unleash more stimulus offering support. Japanese stocks gained, rising for a sixth day as global worries over Britain’s vote to leave the European Union receded, but trading volume was extremely thin due to the Independence Day holiday in the US.
3.10 pm: HSBC on Monday upgraded Indian equity markets to the ‘overweight’, citing improving domestic indicators and more realistic earnings expectations. Read more: HSBC ‘overweight’ on India, 2016-end Sensex target at 28,500
2.48 pm: Manappuram Finance was trading over 7 per cent higher after the gold loan company announced that the rating of its debentures has been upgraded by credit rating agency. CRISIL has upgraded its rating on long-term bank facility and non-convertible debentures of the company. Read more
2.10 pm: Meanwhile, L&T Infotech’s upcoming IPO price band has been fixed at Rs 705-710. The issue will open for subscription on July 11 and will close on July 13. Sensex was up 155 points at 27300.
1.42 pm: Sectorwise, the BSE Realty index was trading up by 2.27 per cent, followed by BSE Metal (up 1.68 per cent), BSE Oil & Gas (up 1.63 per cent) and BSE Telecom (up 1.55 per cent). However, BSE FMCG index was trading down by 1.08 per cent. Sensex was up 143 points at 27288. Nifty was up 46.40 points at 8,374.
1.29 pm: Gold eased off a near two-year high, while silver breached the $21 level for the first time since July 2014 in highly volatile trade on Monday, prompted by a burst of short-covering in China. Spot gold rose about 1 per cent at one point to touch a session best of $1,357.60 per ounce. This was close to the $1,358.20 level reached on June 24, the highest since March 2014, when global markets went into a tailspin in the wake of Britain’s vote to exit the European Union.
1.20 pm: Bajaj Auto reported four per cent decline in total sales in June at 3,16,969 units against 3,31,317 in the same month of 2015. Shares of Bajaj Auto were trading 0.41 per cent down at Rs 2,658.
12.54 pm: Shares of Idea Cellular were trading 1.18 per cent up at Rs 107.30. Read more: Idea Cellular ‘Buy’; Reliance Jio factor fades over growth fears
12.40 pm: Dhunseri Investments has acquired 3,50,000 equity shares of Dhunseri Petrochem (DPL). With this acquisition, the company now hold 1,75,15,000 equity shares of DPL aggregating to 50.01 per cent of the paid up share capital of the said company. Consequently, DPL is now a subsidiary of the company. Shares of Dhunseri Investments were trading 4.12 per cent up at Rs 144. Sensex was up 213 points at 27,358.77. Nifty was up 60.95 points at 8,389.30.
11.58 am: Meanwhile, Sobha Ltd announced the launch of ‘Sobha Winchester’ project, its super luxury residential project in Chennai, Tamil Nadu. Shares of Sobha were trading 0.98 per cent up at Rs 328.85.
11.31 am: Sensex was trading 201.87 points up at 27360. According to traders, sustained buying by investors and domestic financial institutions and positive cues from other Asian markets driven by a post-Brexit rally on hopes that central banks will step up stimulus measures bolstered sentiment here.
Good progress in monsoon rains so far kept things upbeat too, they added.
10.55 am: TeamLease Services announced the signing of a definitive agreement to acquire ASAP Info Systems Private Limited. Shares of the company jumped nearly 5 per cent after the announcement. Sensex was trading 215 points up at 27,359. Nifty was up 62.80 points at 8,391.
10.29 am: MOIL, country’s top manganese ore producer, has slashed prices of various grades of the mineral by up to 15 per cent for July-September quarter. The prices have been reduced by 10 per cent on all Ferro grades of ore with the Mn content 45 per cent and above on the previous quarter price while the prices have been reduced by 15 per cent on all other Ferro grades of ore on the previous quarter price. Shares of the company were trading 1.46 per cent up at Rs 239.75.
10.22 am: Rupee strengthened 15 paise to 67.17 against the dollar on Monday. Sensex was trading 175 points up at 27,320. Nifty was up 52.90 points at 8,381.25
10.00 am: Tata Motors gained over 3 per cent in the early trade on Monday after the auto major reported 8 per cent growth in sales at 44,276 units in June. The company had sold 40,869 in the same month last year. Read more
9.26 am: Shares of Speciality Restaurants were trading 2.12 per cent up at Rs 100.95. The company has closed its restaurant ‘Mainland China’ located at Rajiv Gandhi Salai, Thoraipakkam in Chennai with effect from July 02, 2016. The total number of restaurants and confectionaries of the company are 104 (including 22 franchise restaurants) and 18 respectively.
9.18 am: Nifty was trading 52.85 points up at 8,381.20. In the 50-share index ONGC, UltraTech Cement, Tata Motors, Tata Motors DVR, BHEL and Tata Power were up between 1.27 per cent and 3.45 per cent. On the other hand, Bosch, Hero MotoCorp, ITC and ACC were down between 0.03 per cent and 2.14 per cent.
9.15 am: Sensex opened 169.53 points up at 27314.44. Nifty opened 48.40 points up at 8,376.75.
8.13 am: The BSE Sensex and NSE Nifty are likely to open in green on Monday tracking SGX Nifty and firm global cues.
Asian shares shrugged off early losses and edged higher on Monday, while the Australian dollar was under pressure after no clear winner emerged from a weekend election.
Asian peers, Hang Seng, Nikkei and Shanghai were up by 1.40 per cent, 0.35 per cent and 1.13 per cent in the morning trade.
Sensex rallied over 145 points to end at 27,145, an 8-month high, buoyed by data that showed manufacturing activity gathered steam last month amid strong foreign capital inflows.