Marvellous Monday: Sensex gains 233 pts, Nifty peaks 11,130; HDFC twins, Maruti Suzuki, TCS rally

Indian stock markets finished at record highs as a sustained rally in shares HDFC, HDFC Bank, Maruti Suzuki and TCS steered Sensex to conclude up 232.81 points or 0.65% at 36,283.25 while Nifty ended up 60.75 points or 0.55% at 11,130.4.

India’s stock markets started on a positive note on Monday with key equity indices Sensex and Nifty making fresh all-time highs. Shares of HDFC, Maruti Suzuki, Reliance Industries, HDFC Bank, L&T, and TCS rallied the most providing a major uplift to the benchmark Sensex. Shares of India’s largest housing financier HDFC and the IT major Tech Mahindra will be in close watch ahead of their respective Q3 results which are due later today. With the commencement of Budget Session, Indian Economic Survey 2018, Union Budget 2018-2019, Q3 earnings of blue-chip companies such as HDFC, Indian Oil Corporation and ICICI Bank will likely to steer the domestic markets in the week ahead. Going forward in the week, PMI data for the manufacturing sector which is due on Thursday along with the first post-GST budget and the last full budget of the ruling NDA government before the general elections of 2019 will be closely watched by market participants. The first phase of the budget session will run from 29 January to February 9.

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3:40 pm: Shares of HDFC, HDFC Bank, Maruti Suzuki, TCS, Kotak Mahindra Bank, Infosys, L&T, HUL and Hero MotoCorp contributed heavily in the Sensex rally today. Collectively these nine shares alone added about 327 points out of the 233-point gain in the index while a slump in shares of ITC, Dr Reddy’s, Axis Bank, Bharti Airtel, Yes Bank washed away 104 points out of the index.

This image shows the point-wise contribution of shares which contributed heavily to the Sensex rally on Monday. (Image: BSE)

3:30 pm: Domestic markets finish at record highs with Sensex and Nifty concluding at fresh peaks after rallying heavily in the intraday trades. The 30-share barometer Sensex zoomed 393.54 points to hit a record high of 36,443.98 before settling up 232.81 points or 0.65% at 36,283.25 while the wider share indicator Nifty added 101.9 points to mark a fresh peak of 11,171.55 before ending up 60.75 points or 0.55% at 11,130.4. Shares of Eicher Motors, Maruti Suzuki, HDFC, UPL, Bharti Infratel, TCS, Hero MotoCorp, Indian Oil Corporation, Indiabulls Housing Finance, Tata Steel, Kotak Mahindra Bank, Zee Entertainment Enterprises, Bajaj Auto, HDFC Bank, Tech Mahindra, L&T, Sun Pharma emerged as the major gainers on NSE Nifty rising 1-4%.

3:15 pm: Indian equities continue to rally with Sensex and Nifty hovering near all-time highs. While, the broader market index Nifty Next 50 was trading in red following a slump in heavyweight components such as PNB, Oil India, Indigo, Bank of Baroda, ICICI Prudential, SAIL, Shree Cements, Idea, Cummins India, Sun TV, BHEL, Shriram Transport Finance, LIC Housing Finance, Havells, Power Finance Corporation.

3:00 pm: The Economic Survey report 2017-18 on Monday was tabled in both houses of the Parliament by Finance Minister Arun Jaitley ahead of the Union Budget 2018, in which it was projected that the economic growth for the fiscal year 2018-19 will be between 7% and 7.5%, while it also flagged concerns over rising crude oil price. The Economic Survey report 2017-18 also said that private investment is poised to rebound in the fiscal year 2019 and employment, education and agriculture will remain the focus in the medium term. The full Economic Survey is available at Read More | Economic Survey 2018 India: What is in it for country, economy and common man

2:40 pm: India Economic Survey 2018 highlights: All key takeaways from GST, demonetisation, inflation to oil price

2:25 pm: Shares of HDFC surged 4.18% to hit an all-time high of Rs 1,982 on BSE after India’s largest housing financier, HDFC Ltd reported over a three-fold rise in the standalone net profit to Rs 5,670.21 crore for the quarter ended 31 December 2017, following the one-time gain from the sale of equity shares in its subsidiary HDFC Standard Life Insurance Company. Read More | HDFC Q3 result: Net profit spikes 3-fold to Rs 5,670 crore as HDFC Life IPO share sale boosts income

2:05 pm: Chief Economic Advisor Arvind Subramanian says that the Indian economy is showing robust signs of recovery and a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19. Addressing media in the press conference post release of the economic survey, CEA Arvind Subramanian noted that in recognition of the initiatives taken by the government of India, global rating agency Moody’s had upgraded India’s sovereign rating after a long gap of 14 years. Read More | India Economic Survey 2018: Arvind Subramanian says economic revival underway; 4 key takeaways

1:50 pm: India’s Economic Survey 2018, first since the implementation of GST, today painted a rosy picture of the economy ahead of the Union Budget 2018 due later this week, pointing out that the growth is on track, revenue collection is on the rise, and fiscal deficit is under reasonable check. This comes at a time when there are serious concerns over falling economic growth due to dwindling revenue collection after the implementation of GST and an economic activity still recovering from the shock of demonetisation. Read More | India Economic Survey 2018: GDP growing, GST collection rising, deficit in check; an analysis

1:35 pm: Breaking! Indian stock markets roar again with a sustained uptick in shares of heavyweight companies such as Maruti Suzuki, HDFC, HDFC Bank, Infosys, TCS, Kotak Mahindra Bank, Reliance Industries and L&T steering the headline indices to fresh record highs. The benchmark Sensex amassed as much as 393.54 points to hit a fresh all-time high of 36,443.98 and the broader Nifty added 101.9 points to mark a fresh peak of 11,171.55.

1:23 pm: India’s Economic Survey 2018, first since the implementation of GST, today painted a rosy picture of the economy ahead of the Union Budget 2018 due later this week, pointing out that the growth is on track, revenue collection is on the rise, and fiscal deficit is under reasonable check. Read More | India Economic Survey 2018: GDP growing, GST collection rising, deficit in check; an analysis

1:10 pm: The Indian rupee jumped 5 paise against the US dollar on Monday right after the Finance Minister Arun Jaitley tabled the Indian Economic Survey 2018 which projected FY19 GDP growth at 7-7.5%. A series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19, thereby re-instating India as the world‘s fastest-growing major economy,” a government press release said. Read More | Rupee jumps 5 paise as Economic Survey 2018 projects FY19 GDP growth at 7-7.5%

1:00 pm: Among the group ‘A’ shares of BSE, stocks of Mphasis, Avenue Supermarts gained 5-7% while Fortis Healthcare, Jindal Steel and Power, and Dr Reddy’s shed 4-5%. While among the sectoral indices, Nifty IT, Nifty Metal, Nifty Media and Nifty Auto were the biggest gainers rising up to 2%.

12:40 pm: The first Economic Survey 2017-18 after the implementation of the new indirect tax regime Goods and Services Tax projected FY19 GDP growth at 7-7.5%. Taking note of the impact of GST on India’s economy, Chief Economic Advisor, Arvind Subramanian said, “(GST) has given a new perceptive of the Indian economy and new data has emerged. There has been a fifty percent increase in the number of indirect taxpayers. There has also been a large increase in voluntary registrations, especially by small enterprises that buy from large enterprises wanting to avail themselves of input tax credits.”

12:20 pm: Indian rupee jumps 4 paise against the US dollar on Monday after the Finance Minister Arun Jaitley tabled the Indian Economic Survey 2018. The rupee advanced 4 paise at 63.5 apiece US dollar at the interbank foreign exchange market today.

12:00 pm: Since agriculture sector of the country is under stress currently, the government needs to ensure adequate reforms are introduced to revive the sector. Even as the government is readying up to its future in 2019 elections, agriculture sector plays a pivotal role in its scheme of things, says financial consultant Chenthil R Iyer. Read More | Budget 2018: Agriculture sector is in crisis, needs immediate attention, says Chenthil Iyer of Horus Financial Consultants

11:30 am: The speciality ingredients manufacturer, Galaxy Surfactants Initial Public Offer (IPO) to raise up to Rs 937 crore opens for subscription today. Galaxy Surfactants IPO is a complete offer for sale, in which the promotes look to sell 6,331,674 equity shares. Read More | Galaxy Surfactants IPO for Rs 937 crore opens today: Should you subscribe?

11:17 am: Sensex added 360.16 points to hit a record high of 36,410.6 while Nifty advanced 91.35 points to jump to an all-new lifetime high of 11,161.

ALSO READ | President Ram Nath Kovind speech LIVE updates: Government working towards strengthening social justice, economic democracy says President

11:10 am: Excerpts from President Ram Nath Govind speech before the Indian Economic Survey 2018. 

President of India starts his speech by talking about the festivals and ASEAN leaders visiting the country for the Republic Day. My government is working dedicatedly to strengthen weaker sections, social justice and economic democracy in the country and make life easier for the common citizen, following the inherent fundamentals of the Constitution: President Ram Nath Kovind

About 2 lakh 70 thousand Common Service Centers have been built across the country, which are also delivering digital delivery of various services in remote areas of the country at cheap rates. My government has made available insurance plans to the poor at a rupee per month and 90 paise per day premium. So far, more than 18 crores poor have joined ‘Prime Minister’s Security Insurance Scheme’ and ‘Pradhan Mantri Jeevan Jyoti Bima Yojna’

11:05 am: Amid the broad market rally, shares of heavyweight companies such as ITC, Dr Reddy’s, Bharti Airtel, and ONGC were the major laggards on the Sensex. These four shares contributed heavily to the down surge in the index, washing away as much as 75 points out of the Sensex rally.

11:00 am: Breaking! Indian equities continue the breaking run today as President of India begins to address the nation ahead of Indian Economic Survey 2018. Sensex fires 348.21 points to hit a fresh high of 36,398.65 while Nifty crossed the 11,150-mark gaining as much as 89.5 points to hit a fresh all-time high of 11,159.15.

ALSO READ: Economic Survey India 2017-18 Live Updates: FM Jaitley to table annual document in Parliament

10:46 am: Shares of Maruti Suzuki, Bharti Airtel, Vakrangee, State Bank of India, Hindustan Petroleum Corporation, HDFC are the top six shares on NSE which topped the trading turnover. The stock of Maruti Suzuki India jumped 4.11% to Rs 9,659.8 after India’s largest automaker reported a rise of 2.96% increase in net profit to Rs 1,799 crore for the third quarter ended 31 December.

This image shows the top stocks which topped the trading turnover on National Stock Exchange. Shares of Maruti Suzuki, Bharti Airtel, Vakrangee and State Bank of India are the top four turnover toppers today. (Image: NSE)

10:40 am: Shares of Anil Ambani’s telecom company Reliance Communications topped the volumes on National Stock Exchange ahead of Q3 earnings. The stock RCom shed 6.52% to hit the day’s low of Rs 26.5 on NSE. Earlier in November last year, RCom posted a consolidated net loss of Rs 2,709 crore for the July-September period versus a profit of Rs 62 crore in the same quarter a year ago. The total revenue Reliance Communications halved for the quarter ended 30 September to Rs 2,667 crore as compared to Rs 5,142 crore in the July-September period of 2016-2017.

10:30 am: Shares of Avenue Supermarts jumps 9.01% to a day’s high of Rs 1,263.8 after the company which runs the D-Mart supermarkets chain, posted a 65.77% jump in its net profit on account of overall increase in margin mix and improved operating costs. Shares of Eicher Motors, JSW Steel, Hindustan Zinc, and NMDC rose up to 2-5% today.

10:22 am: Shares of Maruti Suzuki, TCS, Tata Steel, HDFC, Kotak Mahindra Bank, M&M, Infosys and L&T rise 1-4% today with stocks of Maruti Suzuki, TCS, HDFC and HDFC Bank adding the most to the headline index. Meanwhile, shares of pharma major Dr Reddy’s, India’s largest telecom company Bharti Airtel, FMCG giant lost 1-5% with Dr Reddy’s Lab shedding the most after dull Q3 results and Airtel extending Thursday’s losses following one after the other tariff revisions by the neck to neck rival Reliance Jio Infocomm Ltd.

This image shows the 30 shares of benchmark S&P BSE Sensex index. (Image: BSE)

10:15 am: Budget 2018 will be tabled in parliament on 1 February. Just ahead of the budget, an economic survey is presented every year. It is presented by Chief Economic Advisor. It is basically the Finance Ministry’s view on overall economic development. The survey analyses development made by the country in the last 12 months. Economic Survey 2018 will be presented today by Chief Economic Advisor Arvind Subramanian at 1 pm today. Here are the key things one must know | Economic Survey 2018: Here are key things to expect

10:10 am: Among the sectoral indices of NSE, eight out of eleven indices are trading in green with Nifty Auto, Nifty IT, Nifty Metal, leading the charge. Nifty Bank, Nifty Fin Service, and Nifty Pvt bank index also hit their respective peaks in the morning trades.

This image shows all the sectoral indices of National Stock Exchange. (Image: NSE)

10:00 am: Dalal Street fires again! Indian equities continue the record-breaking run with Sensex hitting a fresh high of 36,372.39 up by 321.95 points while Nifty index neared 11,150 rising as much as 79.45 points to mark a fresh high of 11,149.1.

9:50 am: Finance Minister Arun Jaitley will table the Economic Survey 2017-18 in both houses of Parliament today. Prior to the Union Budget, Economic Survey 2018 will give a broad picture of the state of the economy and the way forward. Economic Survey prepared by Chief Economic Adviser (CEA) Arvind Subramanian is expected to indicate the government’s priorities and thrust areas for the forthcoming Budget 2018.

9:40 am: Breaking! Indian stock market extended the morning gains with an uptick in heavyweight shares of Maruti Suzuki, TCS, HDFC, HDFC Bank, L&T and Infosys steering Sensex and Nifty to hit record highs levels. The benchmark Sensex zoomed 300 points to hit a fresh peak of 36,350 and Nifty 50 index surged 72 points to mark a new top of 11,142.

9:30 am: Among the broader market indices of NSE, Nifty Next 50, Nifty 100, Nifty 200, Nifty 500, Nifty Midcap 50, Nifty small100 Free, Nifty Mid100 Free were trading in green rising 0.3-0.6% while 10 out of the 11 sectoral indices are in green with Nifty Auto and Nifty Metal leading the charge while Nifty Pharma was trading in the red.

9:24 am: Shares of HDFC emerged as the biggest contributor in the market rally alone contributing as much as 36.85 points to the Sensex followed by Maruti Suzuki, RIL, HDFC Bank, L&T and TCS.

This image shows the point-wise contribution of top stocks of Sensex. (Image: BSE)

9:20 am: The benchmark indices Sensex and Nifty hit their respective fresh record highs ahead of Indian Economic Survey 2018. Shares of heavyweight companies among the Nifty 50 index such as Vedanta, Indiabulls Housing Finance, L&T, and HDFC spiked more than 1% to hit new 52-week highs.

9:15 am: Indian stock markets opened marginally higher with Sensex gaining 55.92 points to start at 36,106.36 and Nifty advancing 9.7 points to began at 11,079.35. Shares of Maruti Suzuki, Tata Steel, L&T, HDFC, M&M, Kotak Mahindra Bank, TCS, Vedanta, Eicher Motors, Indiabulls Housing Finance and Hindalco emerged as the top gainers among the Nifty 50 stocks.

Other major companies which are also scheduled to announce third-quarter results are Century Textiles, IDFC, Reliance Communications, Wockhardt, Astra Microwave Products, Astron Paper, Emami, Emkay Global, Himadri Speciality Chemical, Inox Leisure, Laurus Labs, Nava Bharat Ventures, and Sun Pharma Advanced Research.

Earlier on Thursday last week, Indian stock markets closed lower after falling heavily in the afternoon trades with Sensex and Nifty finishing the week above their respective psychological levels of 36,000 and 11,000 achieved this week. In the intraday trading, the benchmark Sensex tumbled 338.29 points or 0.93% to hit a day’s low of 35,823.35 while the broader Nifty index washed off as much as 76.8 points to hit the day’s low of 11,009.2. A decline in the shares of heavyweight companies such as State Bank of India, Infosys, Tata Consultancy Sevices, Maruti Suzuki, ITC, HDFC and Reliance Industries steered the headline indices to lose the shine in Thursday’s session. Shares of India’s largest bank State Bank of India emerged as the biggest losers among the Sensex stocks diving as much as 5% followed by Adani Ports, Dr Reddy’s Laboratories, Hero MotoCorp, TCS and Maruti Suzuki.

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