RIL’s 2% gain fuels Sensex 202-point jump, Nifty ends above 11,700 for first time in Indian history!

By: | Updated:Aug 28, 2018 4:09 pm

Share Market Today: Indian stock markets (Sensex and Nifty) ended on a positive note for the second consecutive day on Tuesday with BSE Sensex closing near 38,900 and NSE Nifty finishing beyond 11,700 for the first time in stock market trading history.

Share Market Today: Sensex and Nifty hit all-time highs on Tuesday, both closing and intraday. (Image: Reuters)

Share Market Today: Indian stock markets (Sensex and Nifty) ended on a positive note for the second consecutive day on Tuesday with BSE Sensex closing near 38,900 and NSE Nifty finishing beyond 11,700 for the first time in stock market trading history. Shares of the index heavyweight, Mukesh Ambani-controlled Reliance Industries Ltd (RIL) provided the biggest boost to Sensex and Nifty on Tuesday after the stock crossed Rs 1,300 mark to hit a fresh all-time high, both intraday and closing.

Other than Reliance Industries (+87 points), HDFC twins (HDFC Bank and HDFC) along Infosys, Maruti Suzuki, Axis Bank, Kotak Mahindra Bank and TCS added about 167 points to the S&P BSE Sensex index. Shares of Yes Bank (down 3.07%), HUL (down 1.04%), SBI (down 1.07%) and ONGC (down 0.94%) were among the biggest losers while stocks of Vedanta (up 2.2%), Adani Ports (up 2.2%), Reliance Industries (up 2.06%), Maruti Suzuki (up 1.72%), Axis Bank (up 1.62%), Tata Steel (up 1.32%), NTPC (up 1.29%), HDFC (up 1.21%), Kotak Mahindra Bank (up 0.9%) and HDFC Bank (up 0.88%) were the top gainers on BSE Sensex index.

The domestic stock markets started at fresh record highs with BSE Sensex breaching 38,900 for the first time in stock market trading history and NSE Nifty retaking 11,700. The broader Nifty 50 index hit a fresh all-time high at 11,760.2 while the benchmark Sensex logged a record high at 38,938.91. The sentiments were upbeat on the positive global cues after the tech-heavy stock index Nasdaq Composite breaching the 8,000-mark for the first time ever and US dollar slipped to nearly 1-month low.

Asian shares advanced on Tuesday and the US dollar hovered near one-month lows as a US-Mexico deal to overhaul the North American Free Trade Agreement boosted risk appetite, Reuters said in a report. Investors expect Canada too would agree to the new terms to preserve a three-nation pact, ultimately dispelling the economic uncertainty prompted by US President Donald Trump’s repeated threats to ditch the 1994 NAFTA accord, the report added.

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16:02 (IST) 28 Aug 2018
Sensex @ all-time high | Biggest positive points contributors

The S&P BSE Sensex ended with a gain of 202.52 points at 38,896.63 following the sustained upmove in the blue-chip shares of heavyweight companies. The stocks of Reliance Industries (+86.9 points), HDFC Bank (+37.55 points), HDFC (+48.36 points), Maruti Suzuki (+21.33 points), Axis Bank (+19.42 points) and Infosys (+18.16 points) were the biggest positive points contributors to the BSE Sensex that outnumbered the wipeout by Yes Bank (-21.76 points), ITC (-16.81 points), HUL (-13.48 points) and SBI (12.81 points).

15:56 (IST) 28 Aug 2018
Sectoral indices end mixed

The sectoral indices of the National Stock Exchange ended mixed on Tuesday with Nifty PSU Bank index (down 1.52%) leading the losses and Nifty Financial Service (up 0.47%) leading the gains. 

15:52 (IST) 28 Aug 2018
Closing bell

Indian stock markets closed at record highs with the BSE Sensex and NSE Nifty settling at their respective lifetime closing peaks. The benchmark Sensex ended at 38,896.63, up 202.52 points or 0.52% and NSE Nifty ended at 11,738.5, up 46.55 points or 0.40%. 

14:20 (IST) 28 Aug 2018
Asian markets end mildly higher

All the major stock markets among Asia ended higher on Tuesday barring Chinese stocks. According to an Associated Press report, Japan's benchmark Nikkei 225 finished at 22,813.47, up 0.1%, South Korea's Kospi edged up 0.2% to 2,303.12, Hong Kong's Hang Seng added 0.2% to 28,333.14 after fluctuating throughout the day while Shanghai Composite index inched down 0.1% to 2,777.98, adjusting from its gains the previous day.

14:16 (IST) 28 Aug 2018
New Zealand stock exchange outage resolved

Hours after trading on New Zealand stock exchange NZX was halted because of an outage on Tuesday, the market operator said glitches had been resolved and trading would return to normal on Wednesday, Reuters reported. 

13:09 (IST) 28 Aug 2018
Sensex @ 38,888 | Top Sensex gainers

The benchmark Sensex index was trading at 38,888.6, up 194.49 points or 0.5% with shares of Vedanta, NTPC, Reliance Industries, Maruti Suzuki, Coal India, HDFC, Asian Paints, Kotak Mahindra Bank, Tata Steel, Infosys, TCS, Tata Motors being the major gainers. 

13:05 (IST) 28 Aug 2018
PSU Bank stocks extend losses

All the components of the benchmark Nifty PSU Bank index are trading in negative territory with shares of Union Bank of India (down 3.45%), Bank of Baroda (down 3.1%), Bank of India (down 2.96%), Canara Bank (down 2.49%), Oriental Bank of Commerce (down 2.39%), PNB (down 1.76%), Andhra Bank (down 1.22%), Syndicate Bank (down 1.13%) and Indian Bank (down 1.02%) falling more than 1% each. Nifty PSU Bank index dropped 1.15% to 3,245.2. 

12:25 (IST) 28 Aug 2018
Jubilant FoodWorks new Chief Marketing Officer

Jubilant FoodWorks, the parent company which operates Domino's Pizza and Dunkin' Donuts quick-service chains in India, on Tuesday, announced the appointment of Kapil Grover as Chief Marketing Officer (CMO) of Domino's Pizza. Kapil Grover has an experience of 18 years and will be responsible for leading the marketing strategy for the brand, Jubilant FoodWorks said in a statement.

11:35 (IST) 28 Aug 2018
Nifty Bank slips into red after hitting all-time high

The banking sector benchmark index Nifty Bank slipped into negative territory in the early afternoon deals on Tuesday after hitting an all-time high. Shares of Bank of Baroda, Yes Bank, PNB, Axis Bank, SBI and ICICI Bank were the main negative points contributors and major losers.

10:50 (IST) 28 Aug 2018
Japan's Nikkei hits 11-week high

Japan's Nikkei surged to 11-week highs on Tuesday morning after a trade agreement reached between the United States and Mexico lifted investor risk sentiment and triggered buying in automakers, a Reuters report said. The Nikkei share average rose 0.6% to 22,944.77 at the midday break, after briefly touching the 23,000 level, the report added. 

10:28 (IST) 28 Aug 2018
Yes Bank tanks 2%

Shares of country's fifth-largest private sector bank by asset size Yes Bank dipped more than 2% in the mid-morning deals on Tuesday and were the biggest losers among the 31 stocks of BSE Sensex index. Yes Bank stock fell as much as 2.28% to a day's low of Rs 374.35 on BSE. The stock of Yes Bank was the top negative points contributor to the benchmark Sensex. 

10:13 (IST) 28 Aug 2018
Nifty Live: NSE Nifty firms above 11,700; top 10 gainers

Nifty Live: The wider share indicator NSE Nifty 50 trades well above the psychological mark of 11,700 after hitting an intraday all-time high at 11,760.2. Shares of NTPC (up 2.47%), Cipla (up 2.01%), GAIL (up 1.27%), Tata Motors (up 1.18%), ONGC (up 1.05%), Hindalco (up 1%), Reliance Industries (up 1%), Coal India (up 0.97%), Maruti Suzuki (up 0.97%) and HDFC (up 0.81%) were the top 10 gainers among the total 50 constituents of the index. 

09:50 (IST) 28 Aug 2018
New Zealand stock exchange halts trading

According to a Reuters report, Trading on New Zealand's stock exchange, NZX, was halted on Tuesday due to a series of glitches. The outage, which affected trading and stock exchange releases, began just after 2319 GMT Monday and remained unresolved throughout the afternoon, Reuters reported citing an alert on Thomson Reuters Eikon. An "internal operational issue" had initially caused trading to halt, which had been resolved, but a "secondary issue" had arisen and caused further delay, Reuters report said citing an email of NZX Chief Financial Officer Graham Law.

09:47 (IST) 28 Aug 2018
Rupee jumps 10 paise against USD

The Indian rupee firmed up by 10 paise to 70.06 against the US dollar in early trade at the Interbank Forex market today on selling of the American currency by exporters and banks amid fresh foreign funds inflow, PTI said in a report. Besides, the US dollar's weakness against other currencies overseas gave the rupee strength, the report said further citing unidentified dealers. 

09:36 (IST) 28 Aug 2018

China's central bank raised its daily guidance rate for the yuan by the most in nearly 15 months on Tuesday as part of its latest move to put a floor under the currency as a trade war with the United States grinds on, a Reuters report said. Prior to the market opening on Tuesday, the PBOC lifted its official yuan midpoint to 6.8052 per dollar, 456 pips, or 0.67%, firmer than the previous fix of 6.8508 and largely matching market forecasts, the report added. 

09:33 (IST) 28 Aug 2018
Stock markets scale new all-time highs!

All-time high levels:

Sensex: 38,920.14 | Nifty: 11,760.20 | Nifty Bank: 28,388.65 | Nifty FMCG: 32,752 | Nifty IT: 15,641.4

09:15 (IST) 28 Aug 2018
Opening bell

Indian equity markets started higher on Tuesday following the upbeat sentiments across the globe after US dollar dipped to near one-month low on US President Donald Trump's US-Mexico free trade deal and Nasdaq breaching 11,800 for the first time ever. BSE Sensex surpassed 38,800 for the first time in the opening trade to began at 38,814.76, up 120.65 points or 0.31% while NSE Nifty reclaimed the 11,700 and started at 11,731.95, up 40 points or 0.34%.

09:02 (IST) 28 Aug 2018
SGX Nifty tops 11,800

The early indicator of NSE Nifty, SGX Nifty Futures breached 11,800 level in the early session on Tuesday and was trading up 0.25% at 11,795 on the Singapore Exchange. The gauge has moved in a range of 11,807 and 11,751.5, earlier today. 

Earlier yesterday, S&P 500 and Nasdaq inched up to record-high closes for the second straight session as a trade agreement reached between the United States and Mexico buoyed investor sentiment with technology stocks leading the Nasdaq above the 8,000 mark for the first time and the sector provided the biggest boost to the S&P 500, a Reuters report said. The Dow Jones Industrial Average rose 259.29 points, or 1.01% to 26,049.64, the S&P 500 gained 22.05 points, or 0.77% to 2,896.74 and the Nasdaq Composite added 71.92 points, or 0.91% to 8,017.90.
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