Sensex gains 330 points to record high, Nifty ends above 11,500 for first time in stock market history

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Updated:Aug 20, 2018 3:54:14 pm

Share Market Today: Indian stock markets (Sensex and Nifty) closed at fresh record highs on Monday with BSE Sensex soaring 330 points to close at 38,278.75 and NSE Nifty settling above 11,550 for the first time in stock market history.

Share Market Live: Sensex Live, Nifty Live, Indian Rupee vs US Dollar Exchange Rate, NSE Live, BSE Live, Latest Stock Market NewsShare Market Today: A man walking past the Bombay Stock Exchange building. (Image: Reuters)

Share Market Today: Indian stock markets (Sensex and Nifty) closed at fresh record highs on Monday with BSE Sensex soaring 330 points to close at 38,278.75 and NSE Nifty settling above 11,550 for the first time in stock market history. Indian equity markets traded higher throughout the day on Monday following the sustained gains in the heavyweight shares of L&T, Reliance Industries, HDFC Bank, HDFC, Tata Motors and SBI while Infosys shares were the biggest drag on Sensex and Nifty after its CFO Ranganath resigned from the post on Saturday.

Shares of HCC and Welspun Corporation were the biggest gainers while GE Shipping, Federal Bank and Graphite India were the biggest losers among ‘A’ group of BSE. Indian markets registered new record highs in the afternoon deals with BSE Sensex gaining 392.81 points to hit a fresh all-time high at 38,340.69 and Nifty zooming 94.55 points to book a new record peak at 11,565.3.

Indian share markets started higher on Monday with BSE Sensex rising 200 points and NSE Nifty breaching the psychological mark of 11,500 for the first time ever within the first few minutes of stock market trading. The sharp upmove in L&T, HDFC Bank, Reliance Industries, HDFC, HUL and SBI shares led the key equity indices to record high in the opening session on Monday with L&T, HDFC Bank and RIL emerging as the biggest positive points contributors. Shares of India’s second-largest IT company Infosys were the biggest drag on Sensex and Nifty and fell 4% after CFO M.D. Ranganath resigned from the company on Saturday last week.

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    15:54 (IST)20 Aug 2018
    Sensex up 330 points at 38,278 | Biggest positive point contributors

    15:52 (IST)20 Aug 2018
    Nifty @ 11,550 | Top 10 Nifty gainers

    15:39 (IST)20 Aug 2018
    Closing bell

    Sensex and Nifty finish at new record highs on Monday at 38,278.75, up 330.87 or 0.87% and 11,551.75, up 81 or 0.71%, respectively. Shares of L&T (up 6.74%), Tata Motors (up 4.74%), ONGC (up 3.56%), Tata Steel (up 3.24%), Vedanta (up 3.16%), Bajaj-Auto (up 2.75%), Reliance Industries (up 2.61%), HDFC (up 1.94%), Hero MotoCorp (up 1.91%), SBI (up 1.69%), Wipro (up 1.68%), Coal India (up 1.07%), Adani Ports (up 0.96%) and HDFC Bank (up 0.9%) were the top gainers while stock of Infosys (down 3.22%) was the biggest loser among the Sensex components today. 

    15:23 (IST)20 Aug 2018
    Stock markets book new peaks | Sensex @ 38340.69; Nifty @ 11,565.3

    The domestic equity markets extended gains from the record high levels buoyed by the sustained upmove in the heavyweight shares of L&T, Reliance Industries, HDFC, HDFC Bank, Tata Motors and SBI. BSE Sensex added as much as 392.81 points to hit a fresh all-time high at 38,340.69 whereas surged 94.55 points to mark a new record peak at 11,565.3. 

    14:49 (IST)20 Aug 2018
    Reliance Industries rallies over 2% to hit record high

    Reliance Industries shares hit record high on report of $5 billion retail joint venture talks with Alibaba

    Shares of billionaire Mukesh Ambani-led Reliance Industries hit record high levels on Monday afternoon, after a report said that China’s retail giant Alibaba has initiated talks with Reliance Retail to form a mega Indian retail joint venture (JV). The stock of Reliance Industries Ltd (RIL) surged as much as 2.62% to an all-time high of Rs 1,235 on BSE today.

    14:02 (IST)20 Aug 2018
    Sensex @ 38,300 | Biggest positive point contributors

    13:54 (IST)20 Aug 2018
    Sensex crosses 38,300, Nifty climbs 11,600 for first time!

    Indian equity markets went up further in the afternoon deals on Monday with BSE Sensex crossing 38,300 and NSE Nifty climbing 11,600 for the first time ever. The benchmark Sensex surged 374.07 points to hit a fresh record high at 38,321.95 whereas the broader Nifty 50 added 92.2 points to mark a new all-time high at 11,562.95. Shares of L&T, Reliance Industries, HDFC, HDFC Bank were the biggest positive points contributors in the index rally, these four shares combined added about 220 points to BSE Sensex today.

    13:16 (IST)20 Aug 2018
    Most Asian stocks end higher

    Asian stocks are mostly higher Monday as investors welcomed signs of progress in resolving the trade dispute between the US and China, Associated Press reported. The Wall Street Journal reported the countries hope to have a resolution by November, AP report added. Japan's benchmark Nikkei 225 inched down 0.3% to finish at 22,199.00, South Korea's Kospi was little changed, edging up less than 0.1% to 2,247.42, Hong Kong's Hang Seng gained 1.1% to 27,519.90, while the Shanghai Composite rose 0.7% to 2,688.46.

    13:13 (IST)20 Aug 2018
    Indian rupee and Chinese yuan lead recovery amid Asian currencies

    Most Asian currencies started the week on a high note after news of impending lower-level trade talks between the United States and China returned risk appetite to regional market with China's yuan and the Indian rupee leading the gains against a broadly weaker US dollar, a Reuters report said. The US dollar was flat on Monday after slipping about 0.6% on Friday, as investors exited the safe-haven currency, the report added. 

    13:08 (IST)20 Aug 2018
    Crude oil prices turn flat

    Crude oil prices were mixed on Monday, weighed down by concerns over slowing economic growth but supported by the expected impact of U.S. sanctions oon Iran, which will start targeting the petroleum industry from November, Reuters said in a report. Brent crude futures were at $71.80 per barrel while US West Texas Intermediate (WTI) crude futures were down 6 cents at $65.85 per barrel.

    12:55 (IST)20 Aug 2018
    Nirav Modi in UK, authorities confirm to CBI officials

    UK confirms the presence of Nirav Modi in its territory, PTI reported citing CBI officials. CBI has sent an extradition request for fugitive diamantaire Nirav Modi to the UK, the report added. 

    12:28 (IST)20 Aug 2018
    HCC jumps 13%

    Shares of construction and engineering firm HCC jumped 13% in the early afternoon deals on Monday and were the biggest gainers among all the constituents in 'A' group of BSE. The stock of HCC rose 12.86% to a day's top of Rs 14.48 on BSE today. 

    12:17 (IST)20 Aug 2018
    Nifty Live: Nifty hits 11,550

    Nifty Live: NSE Nifty 50 hit fresh all-time peak at 11,551.85, up 81.1 points. Shares of L&T, Tata Motors , ONGC, Tata Steel, HPCL, Hero MotoCorp, HDFC, Reliance Industries, Wipro and Hindalco were the top gainers among the 50 components of index rising up to 5.9%.  

    11:59 (IST)20 Aug 2018
    Impact of Kerala floods on banks: Jefferies

    Jefferies says floods in India's southwestern state of Kerala will lead to some recovery delays and losses for banks, typically in agriculture loans, micro, small and medium enterprises (MSME) priority sector loans, home loans and trade activities, a Reuters report said. Exposure of loans: 24% of exposure to agriculture, 16% to MSME, 11% to housing loans, the global research and brokerage firm Jefferies was seen as saying in a Reuters report. 

    RBI regulations allow restructuring of loans in case of natural calamities but banks will need to make higher provisions with respect to restructured loans; expect RBI's relaxation to defer non-performing loan spike in the near term, Jefferies said further. Kerala advances as percentage of total advances are 41% for South Indian Bank and 36% for Federal Bank.

    10:59 (IST)20 Aug 2018
    Chinese yuan recoils

    China's yuan hit a 10-day high against the dollar on Monday, following a firmer fixing by the central bank and as immediate worries about global trade receded, taking some of the shine off the safe-haven US dollar, a Reuters report said. The sharp turnaround in the Chinese currency came after it booked 10 straight weeks of losses, the longest weekly losing streak since the exchange rate was unified in 1994, shedding nearly 9% to the dollar since the end of March, the report added. 

    10:45 (IST)20 Aug 2018
    Sensex tops 38,266.95, Nifty nears 11,550

    The upsurge in Indian equity markets seemed unstoppable on Monday as BSE Sensex and NSE Nifty marked multiple fresh peaks within 2 hours of stock market trading. The benchmark Sensex advanced 319.07points to hit a new record high at 38,266.95 while NSE Nifty 50 rallied 74.55 points to hit a new lifetime high at 11,545.3, just 5 points short of hitting 11,550. 

    10:32 (IST)20 Aug 2018
    L&T jumps 6% on buyback buzz

    Shares of India's largest infrastructure firm L&T rose more than 6% on Monday after the Mumbai-headquartered company said that it will consider its first-ever share buyback on Thursday this week. L&T shares on Monday registered their biggest percentage gain since October 2017. The stock of L&T surged 6.4% to a day's high of Rs 1,319.65 on BSE today. According to a Reuters report, Morgan Stanley analysts believe that buyback is "over and above the regular dividend and is tax efficient from a shareholder perspective". If the share buyback is approved then it could be taken as a signal of an alternative to reward shareholders by market - Morgan Stanley was seen as saying in a Reuters report. Morgan Stanley has an 'overweight' rating on L&T shares with a target price of Rs 1,786. 

    10:22 (IST)20 Aug 2018
    Qatar’s pledge to invest $15 billion in Turkey helps emerging market currencies

    Rupee gains 38 paise from record low

    Qatar’s pledging to invest $15 billion in Turkey on Thursday helped Turkish Lira to recover and helping many of the emerging market currencies to recover,” Bhavik Patel – Sr. Technical Analyst, Tradebulls Securities, told FE Online after Indian rupee recovered 38 paise against US dollar in the morning deals on Monday. 

    10:10 (IST)20 Aug 2018
    Turkish lira trades unchanged

    The Turkish lira traded steady against the dollar on Monday, showing no reaction to Friday night's moves by Moody's and Standard & Poor's ratings agencies to cut Turkey's sovereign credit ratings deeper into "junk" territory, a Reuter report said. The lira stood at 5.9950 against the US currency, firming slightly from 6.0100 at the close on Friday, the report said further. 

    09:57 (IST)20 Aug 2018
    Sensex @ new all-time high | Top trades

    Sensex Live: The 30-share barometer Sensex crossed the level of 38,200 for the first time ever on Monday and hit a lifetime peak at 38,240.55, up by 292.67 points from the previous closing of 37,947.88. Shares of L&T (up 5.13%), ONGC (up 3.25%), Tata Motors (up 2.51%), Yes Bank (up 2.37%), Coal India (up 2.36%), SBI (up 1.82%), M&M (up 1.77%), HUL (up 1.47%), Hero MotoCorp (up 1.45%), HDFC (up 1.4%), Tata Steel (up 1.2%) and Wipro (up 1.13%) were the top gainers among all the components of Sensex today whereas the heavyweight stocks of L&T, HDFC Bank, Reliance Industries and HDFC were the biggest positive points contributors to the index. 

    09:50 (IST)20 Aug 2018
    Indian stock markets hit fresh record high

    Indian stock markets rallied heavily in the wee hours of trading on Monday with the headline indices Sensex and Nifty soaring to new all-time highs. The benchmark Sensex surpassed 38,200-mark while broader Nifty 50 inched up further after breaching 11,500.

    New all-time highs

    Sensex:  38216.89, up 269.01 points | Nifty: 11,539.05, up 68.3 points.

    09:38 (IST)20 Aug 2018
    Rupee marks big recovery vs USD, jumps 38 paise

    The Indian rupee on Monday marked recovered sharply in the early session against the US dollar. The rupee added as much as 38 paise to 69.7725 per unit US dollar after opening higher at 69.8325 on Monday, the Bloomberg data showed. Earlier on Thursday last week, the rupee closed at a historic low of 70.1575 apiece US dollar. 

    09:33 (IST)20 Aug 2018
    Infosys dives 4% after CFO MD Ranganath resigns

    Shares of India's second-largest IT company Infosys fell as much as 4% in the early morning session on Monday after the CFO M.D. Ranganath resigned from the Bengaluru-headquartered IT giant on Saturday. The stock of Infosys was the biggest loser among all the components of Sensex and Nifty. The stock of Infosys dived 4.04% to a day's bottom of Rs 1,373.55 on BSE. 

    “Infosys announced that the board of directors at its meeting today accepted the resignation of M.D. Ranganath as the Chief Financial Officer and a key managerial personnel,” Infosys said in an exchange filing on Saturday, 18 August 2018. The board will immediately commence the search for the next Chief Financial Officer, Infosys added.

    09:17 (IST)20 Aug 2018
    Opening bell

    Indian stock markets started on a positive footing on Monday with the benchmark Sensex gaining more than 100 points and wider share indicator Nifty 50 surpassing the psychological mark of 11,500 for the first time ever. BSE Sensex opened at 38,075.07, up 127.19 or 0.34% and NSE Nifty opened at 11,502.1, up 31.35 or 0.27%. 

    08:59 (IST)20 Aug 2018
    Sensex on Friday, 17 August 2018

    08:57 (IST)20 Aug 2018
    Sensex last week | From Monday 13 August 2018 to Friday 17 August 2018

    08:53 (IST)20 Aug 2018
    SGX Nifty trades above 11,500

    The global indicator of NSE Nifty, SGX Nifty Futures was trading well above 11,500 level at 11,520, up 0.37% on Monday on the Singapore Exchange. The gauge has made a day's high at 11,561.5 and day's low at 11,460.50 earlier today. 

    08:51 (IST)20 Aug 2018
    FPIs pump in Rs 7,500 in Indian capital markets in August

    Foreign portfolio investors have pumped in over Rs 7,500 crore into the Indian capital markets so far this month on better corporate earnings coupled with improvement in crude oil prices, PTI said in a report. The latest inflow comes following a net infusion of over Rs 2,300 crore in the capital markets, both equity and debt, last month. Prior to that, overseas investors had pulled out over Rs 61,000 crore during April-June, the report added.

    Earlier on Friday last week, US stocks closed higher with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners China and Mexico, a Reuters report said. The Dow Jones Industrial Average rose 110.59 points, or 0.43% to 25,669.32, the S&P 500 gained 9.44 points, or 0.33% to 2,850.13 and the Nasdaq Composite added 9.81 points, or 0.13% to 7,816.33, the report said further.
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