Sensex, Nifty close at fresh record highs; RIL becomes India’s first Rs 7.5 lakh crore company!

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Updated:Jul 31, 2018 4:13:38 pm

Share Market today: Indian stock markets shrugged off earlier losses and rallied to close at a fresh new high on Tuesday, with the Sensex closing at a record all-time high of 37,606.58 points and the Nifty at 11,356.50 points. Reliance Industries Ltd, the Mukesh Ambani-led oil-to-textile-to-telecom conglomerate, became India's first Rs 7.5 lakh crore company in the stock market history on Tuesday, 31 July 2018.

Share Market Live: Bombay Stock Exchange building from the far end. (Image: Reuters)

Share Market Live: Indian stock markets shrugged off earlier losses and rallied to close at a fresh new high on Tuesday, with the Sensex closing at a record all-time high of 37,606.58 points. Reliance, HUL, Infosys, Maruti Suzuki were the top contributors to the Sensex index in Tuesday’s trade. The other benchmark index Nifty of the National Stock Exchange surged to a fresh high of 11,356.50 points on closing.

RIL (Reliance Industries Ltd) shares surged over 3% on the Sensex index to an all-time high and became the most valued Indian company on 31 July, Tuesday. Following the sharp rally in the share prices of RIL, the market capitalisation of company topped that of TCS (Tata Consultancy Services). At closing, the Mukesh Ambani-controlled oil-to-textile-t0-telecom conglomerate Reliance Industries Ltd’s stock market value stood at Rs 7.51 lakh crore.

The domestic stock markets extended losses in the mid-morning deals on Tuesday with BSE Sensex falling 236 points from the all-time high of 37,644.59 and NSE Nifty nearing 11,250 following the declines led by blue-chip stocks of HDFC, Infosys, ITC, Axis Bank and HDFC Bank. Indian shares fell in negative territory after opening flat on Tuesday with BSE Sensex tumbling more than 100 points after touching a new all-time high and NSE Nifty losing 11,300-level.

The massive sell-off in tech stocks on Wall Street overnight with tech-heavy Nasdaq slipping more than 100 points has been steered Asian stocks into the red. Meanwhile, Asian share markets weakened on Tuesday, taking cues from the rout in global technology shares while the yen edged higher ahead of the Bank of Japan’s rate review, at which it could flag a shift away from its massive monetary stimulus, a Reuters report said.

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Highlights

    16:07 (IST)31 Jul 2018
    Reliance Industries becomes India's first Rs 7.5 lakh crore company!

    Reliance Industries Ltd, the Mukesh Ambani-led oil-to-textile-to-telecom conglomerate, became India’s first Rs 7.5 lakh crore company in the stock market history on Tuesday, 31 July 2018. Following the massive uptick in the share price of Reliance Industries, the company topped a market capitalisation of Rs 7.5 lakh crore for the very first time.

    Read more here: India’s first Rs 7.5 lakh crore company! Mukesh Ambani’s Reliance achieves yet another feat after beating TCS

    15:49 (IST)31 Jul 2018
    Nifty Bank index ends in red; Axis Bank top drag

    15:45 (IST)31 Jul 2018
    Sensex @ record high: Reliance, HUL, Infosys top Sensex contributors

    15:41 (IST)31 Jul 2018
    Nifty new records: closing at 11,356.50, 52-week high at 11,366

    Top Nifty gainers

    15:37 (IST)31 Jul 2018
    Sensex new records: closing at 37,606.58, fresh 52-week high at 37,644.59

    Top Sensex gainers and losers: RIL gains 3%, Axis Bank slips 3%

    15:34 (IST)31 Jul 2018
    CLOSING BELL! Sensex, Nifty close at fresh all-time highs!

    Sensex closed at a fresh record high at 37,606.58 points led by gains in index heavyweights Reliance, Hero MotoCorp, HUL, Adani Ports, Tata Steel, Maruti, IndusInd Bank among others. The Nifty closed at a new high of 11,356.50 points.

    15:13 (IST)31 Jul 2018
    Reliance Industries rallies 3%

    Shares of Reliance Industries extended gains in the late afternoon deals on Tuesday after the company topped the stock market value of Rs 7.5 lakh crore for the first time ever. The stock of RIL was trading up 3.16% at Rs 1,186 on BSE. 

    14:49 (IST)31 Jul 2018
    Sensex retakes 37,500!

    13:43 (IST)31 Jul 2018
    Kotak Mahindra Bank: End of uptrend in shares?

    Shares of India's fourth-largest private sector lender by market capitalisation asset size and third-largest bank by market capitalisation Kotak Mahindra Bank has gained 88% in last three years as of Monday but technical charts are suggesting an end of the uptrend. Stock's wave pattern suggests it has completed a five-wave uptrend and is in the first wave of a three-wave corrective cycle, Reuters said in a report. A break below this level may lead to a fall towards the next support at Rs 1,220.82, the 23.6% retracement level, the report added.

    13:09 (IST)31 Jul 2018
    Sensex Live: RIL leads from front!

    12:52 (IST)31 Jul 2018
    Big breaking! RIL becomes India's most valued company

    Image result for mukesh ambani reuters

    The Mukesh Ambani-controlled Reliance Industries Ltd (RIL) became the most valued Indian company after the oil-to-telecom conglomerate's market capitalisation crossed the m-cap of TCS. According to the latest data available with stock exchanges, RIL commands a market capitalisation of Rs 7.43 lakh crore, up Rs 15,207 crore from Monday's m-cap while TCS held a market capitalisation of Rs 7.39 lakh crore. 

    12:10 (IST)31 Jul 2018
    Credit Suisse Q2 profit doubles!

    Credit Suisse more than doubled its second-quarter net profit as gains from the final leg of a three-year overhaul managed to outshine weakness in the overall wealth management market, Reuters said in a report. Net income attributable to shareholders from April through June rose 114 percent year on year to 647 million Swiss francs ($655.5 million), Switzerland's second-biggest bank said on Tuesday, beating expectations as it further pared back costs and grew business banking the world's wealthy, the report added. 

    12:03 (IST)31 Jul 2018
    Nifty Live: Tech Mahindra | Biggest Nifty gainer

    Shares of India's fifth-largest IT company Tech Mahindra surged more than 4% on Tuesday and were the biggest gainers among all the components of NSE Nifty index after the company posted a rise of 12% in the Q1 net profit. The stock of Tech Mahindra rose 4.49% to a day's top of Rs 684.90 on NSE today.  Jefferies has raised the rating to 'hold' from 'underperform' and with a target price of Rs 715 from Rs 625, a Reuters report said. Jefferies has also raised constant currency growth estimate for FY19 slightly but kept USD growth rate unchanged to factor in higher cross-currency headwind, the report added. 

    11:30 (IST)31 Jul 2018
    8 of 11 NSE sectors trade in red

    As many as 8 out of 11 sectoral indices of National Stock Exchange traded in red on Tuesday with Nifty Bank, Nifty Financial Service, Nifty Metal being the worst hit. The real estate benchmark Nifty Realty was the only notable gainer and was trading up 2.01% at 273.75. 

    11:19 (IST)31 Jul 2018
    Idea Cellular down 6% post Q1 results

    Shares of Idea Cellular fell more than 6% after the Aditya Birla Group's telecom company reported a drop in the quarterly revenue. Idea's weaker balance sheet and integration woes would limit its ability to effectively compete with peers on high ARPU data subscribers; we expect it to lose revenue market share, the global research and brokerage firm Jefferies was seen as saying in a Reuters report. 

    11:02 (IST)31 Jul 2018
    HDIL zooms 20%

    HDIL shares extended gains in the mid-morning deals rising 19.9% to a day's high of Rs 24.1 from a share price level of Rs 20.1 on BSE today. 

    10:59 (IST)31 Jul 2018
    Axis Bank drops 2% on weak Q1 FY19 results

    Shares of India's third-largest private sector lender Axis Bank shed more than 2% on Tuesday after the Shikha Sharma-led bank posted a drop of 46% in the net profit to Rs 701 crore for the quarter ended 30 June 2018. Axis Bank's gross NPA ratio also spiked to 6.52% at the end of 30 June 2018 from 5.03% as at 30 June 2017. The stock of Axis Bank fell 2.48% to a day's low of Rs 555.50 on NSE today.

    10:52 (IST)31 Jul 2018
    Sensex Live: Heavyweight losers

    10:36 (IST)31 Jul 2018
    Sensex Live: Markets extend losses

    Indian equity markets extended losses in the mid-morning deals on Tuesday with BSE Sensex falling more than 150 points and NSE Nifty touching a low of 11,274. The drop in the headline indices was mainly due to the decline in share prices of large-cap heavyweight stocks such as HDFC, HDFC Bank, Infosys, ITC, Kotak Mahindra Bank and TCS. 

    10:28 (IST)31 Jul 2018
    Can Fin Homes down 7%

    Shares of Can Fin Homes shed more than 7% in the morning deals on Tuesday after the Canara Bank subsidiary reported a rise in gross non-performing assets to 0.66% of gross advances as on 30 June 2018, from 0.38% by June 2017. The stock of Can Fin Homes tumbled 7.34% to day's bottom of Rs 337.25 on Tuesday. 

    10:18 (IST)31 Jul 2018
    Japan's Nikkei recoils

    Japan's benchmark Nikkei share average bounced back from one-week lows on Tuesday after the Bank of Japan announced tweaks to its monetary policy settings but refrained from making any radical move off its easy policy stance, a Reuters report said.

    10:18 (IST)31 Jul 2018
    Nifty Live: Top 10 Nifty losers

    10:16 (IST)31 Jul 2018
    Bank of Japan keeps interest rates "very low"

    The Bank of Japan pledged to keep interest rates "very low" for the time being and took measures to make its massive stimulus programme more flexible on Tuesday, reflecting its forecast that it would take time for inflation to hit its 2%target, Reuters reported. 

    10:12 (IST)31 Jul 2018
    Nifty Live: Top 10 Nifty gainers

    10:09 (IST)31 Jul 2018
    HDIL jumps 12%

    Shares of real estate firm HDIL (Housing Development & Infrastructure) jumped nearly 12% in the morning deals on Tuesday and were the biggest gainers among the constituents of 'A' group. The stock of HDIL rose 11.94% to a day's high of Rs 22.5 on BSE today. 

    10:06 (IST)31 Jul 2018
    Interglobe Aviation under pressure

    Interglobe Aviation posted a 97% decline in net profit of Apr-Jun quarter largely on the back of higher fuel costs and forex losses. Interglobe Aviation, which operates India's biggest airline IndiGo, says profit impacted by pressure on yields, higher maintenance costs. Of 19 brokerages covering stock, eight have "buy" or higher rating, seven have "hold" while four have "sell" or lower, Reuters reported. 

    09:52 (IST)31 Jul 2018
    Crude oil price fall

    Oil prices fell on Tuesday, with Brent futures set for their biggest monthly loss in two years, on oversupply concerns after a report showed OPEC's output in July rose to its highest for 2018, Reuters said in a report. September Brent crude futures fell 46 cents, or 0.6% to $74.51 a barrel by 0356 GMT after rising nearly 1% on Monday while US West Texas Intermediate crude futures (WTI) were down 43 cents, or 0.6% at $69.70 a barrel, after rising more than 2% in the previous session, the report added. 

    09:50 (IST)31 Jul 2018
    Sensex Live: Top stocks dragging the index

    09:46 (IST)31 Jul 2018
    Interglobe Aviation crashes 11%

    Shares of the domestic airline carrier Interglobe Aviation declined more than 11% in the early session on Tuesday after the company reported a massive drop of 97% in the Q1 FY19 profit. The stock of Interglobe Aviation slid 11.27% to a day's low of Rs 891.1 on BSE today. 

    09:43 (IST)31 Jul 2018
    Sensex cracks 114 points, Nifty loses 11,300

    BSE Sensex fell more than 100 points in the opening deals on Tuesday while NSE Nifty dropped below 11,300 level. Sensex declined 113.85 points to a day's low of 37,380.55 and NSE Nifty touched a day's bottom of 11,284.15, down 35.4 points. 

    09:21 (IST)31 Jul 2018
    Sensex down 100 points

    09:15 (IST)31 Jul 2018
    Opening bell!

    Indian stock markets opened flat on Tuesday with BSE Sensex starting marginally up in green and NSE Nifty beginning the day in negative territory. The broader Nifty opened at 11,311.05, down 8.50 points or 0.08% while the benchmark Sensex started at 37,534.95, up 40.55 points or 0.11%. 

    09:11 (IST)31 Jul 2018
    Rupee drops 5 paise against US dollar

    The Indian rupee lost about 4 paise against the US dollar at the interbank foreign exchange market on Tuesday. The rupee was quoted at 68.7175, down 5 paise per unit US dollar, Bloomberg data showed. 

    09:06 (IST)31 Jul 2018
    Asian markets hover in red

    Asian markets were mixed on Tuesday with narrow trading ahead of a key statement by the Bank of Japan, which could indicate a tightening of its monetary policy, AP reported. Japan's Nikkei 225 index dropped 0.3% to 22,476.72, South Korea's Kospi was flat at 2,293.43, Hong Kong's Hang Seng index lost 0.3% to 28,650.72 while China's Shanghai Composite index gained 0.1% to 2,872.9.

    09:02 (IST)31 Jul 2018
    SGX Nifty Futures in red

    The global indicator of NSE Nifty, SGX Nifty Futures was trading in negative territory, down 0.14% at 11,328.5 on the Singapore Exchange on Tuesday. The gauge has moved in a range of between 11,366.5 and 11,325.5 today. 

    Earlier yesterday, a broad sell-off of technology stocks pushed the three major US stock indexes lower with the Nasdaq Composite posting its third consecutive loss of more than 1% for the first time in three years just days after hitting a record high, Reuters said in a report. Shares of Facebook Inc and Netflix Inc slid 2.2% and 5.7%, respectively with the tech-heavy Nasdaq witnessing a sharp uptick in the number of stocks striking 52-week lows. On Monday, 102 Nasdaq-listed stocks fell to their lowest price in a year or more, 65 more than those hitting new highs. The Dow Jones Industrial Average fell 0.57% to 25,306.83, the S&P 500 lost 0.58% to 2,802.6, and the Nasdaq Composite dropped 1.39% to 7,630.00, the report added.
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