Nifty ends at new high, tops 9400; Sensex closes up 1% above 30240; Monsoon forecast helps

By: | Updated: May 10, 2017 4:53 PM

Indian markets open up on a positive note buoyed by the strong openings of Asian markets as the Nikkei share average rose 0.5 percent to 19,938.53 in mid-morning trade, the highest since December 2015.

Indian stock markets opened on a positive note today buoyed by strong opening in Asian markets, with the benchmark indices making new all-time highs, supported by encouraging monsoon forecast and strong FII buying. Both, Sensex and Nifty were trading strong, with Sensex holding firm near 30,200, and Nifty eyeing 9,400. Most sectoral indices were also in green. Elsewhere, the Nikkei share average rose 0.5 percent to 19,938.53 in mid-morning trade, the highest since December 2015. Asian markets were on edge on the abrupt dismissal of FBI Director James Comey by the US President Donald Trump and growing concerns about North Korea nuclear programme.

Here are the live updates:

4:50 pm: Around 129 stocks hit their fresh all-time high on NSE on Wednesday. ABB India, ADF Foods, Ahluwalia Contracts, Bhushan Steel, Britannia Industries, Cadila Healthcare, C & C Constructions, Central Bank of India, Eicher Motors, Eveready Industries India, Gabriel India, Hindustan Unilever, Gillette India, Indian Bank, JK Cement, Maruti Suzuki, Mastek, PTC India Financial Services and Poddar Housing and Development were among some of the stocks that hit 52-week high. (Read More)

4:35 pm: Shares of IDBI Bank today fell as much as 5.12 percent to Rs 77.80 during intraday trade on NSE on the back of Reserve Bank of India (RBI) starting “prompt corrective action” (PCA) for the public sector bank over its high bad loans and negative return on assets. (Read More)

4:25 pm: NSE has announced changes in five indices including Alpha 50, High Beta 50 and Low Volatility 50 as part of its quarterly review. Nifty 100 Low Volatility 30 and Nifty Midcap Liquid 15 index will also see changes. The changes will become effective from May 26. (Read More)

4:10 pm: Gold prices shot up by Rs 95 to Rs 28,665 per 10 grams at the bullion market today on firm overseas cues and scattered buying by jewellers at the domestic spot market. (Read More)

3:45 pm: Indian benchmark indices make new lifetime highs with the NSE Nifty 50 topping 9,400 for the first time ever and the BSE Sensex too closing at new all-time high, bolstered by encouraging monsoon forecast in a heavily agri-dependent economy, and continued FII buying. Today, Nifty made a new all-time high of 9,414.75 points, while Sensex climbed to a record 30,259.71 points in late afternoon trade. Both the indices also closed at record highs, with the Nifty ending the day at 9,410.15 points while Sensex ending at 30,248 points. (Read full story)

3:30 pm: Highest ever closing for Indian stock markets; benchmark BSE Sensex ends above 30,248, up 1.05%; NSE Nifty tops 9400, closing up 0.97% at 9407.3 points. Sectoral indices Bank Nifty and Nifty Fin Service also close at record highs.

3:00 pm: Nifty scales 9400 for the first time ever, trading up 1% at 9,405 points; moves from 9300 to 9400 in 11 trading sessions; encouraging monsoon forecast helps. Sensex up 1% at 30,234 points.

2:50 pm: Indian shares hit a record high on Wednesday as shares of consumer goods and agriculture-dependent companies rallied after the country’s weather office forecast a higher monsoon rainfall than previously expected. The broader NSE index rose as much as 0.81 percent to a record high of 9,392.50, surpassing its previous milestone recorded on May 5. (Read More)

2:35 pm: Kotak Mahindra Bank Shares hit a fresh all-time high of Rs 929.65, lead gains on Bank Nifty.

2:30 pm: The benchmark BSE Sensex breaches 30,200, up 0.95% at 30216.56 points; Nifty 50 crossed 9,390 mark. Bharti Airtel shares surge 8.47% to Rs 374.5 on the broader Nifty 50.

2:25 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 and final day of bidding. The qualified institutional investors have bid almost three times the reserved portion for them, while the retail investors have bid more than four times the portion kept for them, at 2:00 pm today. The quota reserved for non-institutional investors has been almost fully subscribed at 94%. (Read Full Story)

2:10 pm: Domestic markets opened firm on Wednesday with both BSE Sensex and NSE Nifty touching their fresh all-time high in late morning trade driven by positive global cues and hopes of a good monsoon. The BSE Sensex zoomed 264 points to quote at an all-time high of 30,197.66, while the broader NSE Nifty scaled 9,390.15 intraday on Wednesday. At 1.20 pm, Sensex was trading 256.46 points up at 30,189.71, while NSE Nifty was trading 69.25 points up at 9,386.10. (Read More)

1:55 pm: Bharti Airtel (up 5.43%) lead gains on the benchmark BSE Sensex, the shares are trading higher at Rs 364. Nifty holds above 9380 points.

1:35 pm: Gold prices rose by 0.41 per cent to Rs 28,085 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in June rose by Rs 114, or 0.41 per cent, to Rs 28,085 per 10 gram, in a business turnover of 415 lots. (Read Full Story)

1:15 pm: Deutsche Bank keeps ‘Buy’ on Bharti Airtel shares with Rs 400 target price; Airtel shares trade up 3.9% at Rs 359.05 on the back of healthy subscriber additions in the fiscal fourth quarter, despite weak financial earnings

1:10 pm: Hindustan Unilever, Bharti Airtel continue to lead Sensex gains; HUL up 4% at Rs 990.5

12:10 pm: The benchmark BSE Sensex hovers around 30,160 points, HUL (up 3.85%), Bharti Airtel (up 3.68%) and M&M (up 2.25%) lead gains, while TCS (down 1.31%), Infosys (down 0.67%) and Wipro (down 1.22%) drag.

11:50 am: Markets continue firm, near all-time highs; Sensex up 0.76% at 30,160.11 points, Nifty 50 up 0.68% at 9,380.45 points.

11:35 am: Shares of InterGlobe Aviation Ltd, owner of the country’s largest airline, IndiGo, fell 3.35 percent today to Rs 1,102.10 on the NSE, the biggest intraday percentage fall for the scrip in last 11 trading sessions. This poor show came on the back of weak results announced by the company for the fiscal fourth quarter. (Read Full Story)

11:10 am: The benchmark Sensex zooms 264 points or 0.88% to 30,197.69 while the broader Nifty 50 gains 0.78%, hit a record high at 9389.95 points on the back of normal monsoon forecast by the Indian Meteorological Department, FII influx and global cues. (Read More)

10:55 am:  Bharti Airtel shares zoomed over 4 per cent on Wednesday despite reporting lowest fourth quarter results. At 10.26 am, Bharti Airtel was trading 2.81 per cent up at Rs 355.20. The share price opened at Rs 337 and touched a high and low of Rs 360.70 and Rs 336.95, respectively in trade so far. Sensex was trading 231.16 points up at 30,164.41 during the same time. (Read More)

10:40 am: The broader Nifty 50 hold the morning gains, up 0.73% at 9,384.6 points while most of the sectoral indices of NSE are trading higher including FMCG, Bank, Auto, Financial Services, Media, Metal, Pharma, Private bank

10:15 am: Bharti Airtel shares among the lead gainers on Sensex, up 3.29% at Rs 365.85 while HUL continues to shine, shares hit a fresh all-time high at Rs 998.4.

10:00: The benchmark Sensex zooms 246 points or 0.82% to 30,180.12 while the broader Nifty 50 gains 0.71%, hit a record high at 9383.2 points buoyed by the forecast of a normal monsoon this year amid positive global cues. Hindustan Unilever shares hit a fresh lifetime high at Rs 995.

09:45 am: The broader Nifty 50 trading higher up 0.51% at 9,364.7 points while the benchmark Sensex regained the 30,000 mark, trading up 0.55% 30,097.83. The top gainer on the Indian bourses is Hindustan Unilever Ltd, shares of HUL hit the all-time high of Rs 994.7 on NSE, while the shares of Airtel are trading firm, up 0.83% at Rs 348.1 after reporting weak earnings yesterday.

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