Share Market Today: Sensex up 145 points, Nifty ends above 11,000; RIL hits all-time high, Bajaj Auto dives 9%

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Updated:Jul 20, 2018 3:59:53 pm

Share Market Today: Indian stock markets fell off from day's top but managed to conclude higher on Friday with Sensex zooming 145 points and Nifty finishing above 11,000-level with shares of heavyweight trio RIL, Infosys and ICICI Bank leading the gains.

Share Market Today: Bombay Stock Exchange building. (Image: Wikimedia Commons)

Share Market Today: Indian stock markets fell off from day’s top but managed to conclude higher on Friday with Sensex zooming 145 points and Nifty finishing above 11,000-level with shares of heavyweight trio RIL, Infosys and ICICI Bank leading the gains. The Indian rupee marked a big recovery in the afternoon forex dealings after plunging to an all-time low vs USD. Shares of Bajaj Auto fell 9% on weaker-than-expected Q1 FY19 results. Earlier in the day, Sensex surged more than 200 points to a high of 36,567.34, Mukesh Ambani-led RIL hit a new all-time high and Infosys rallied over 3% intraday while most shares of the IT companies rose on rupee’s weakness.

A subdued Wall Street closing and the uncertainty over the no-confidence motion in Lok Sabha is weighing on the market sentiments today. Most Asian stock markets retreated on Friday after China allowed its yuan currency to slide further, stoking concerns Beijing’s currency management could become the next flash point in a fierce trade conflict with the United States, Reuters reported.

Equity markets in the region were hit after China’s central bank lowered its midpoint for the yuan for the seventh straight trading day and to its lowest in a year, the report added. Meanwhile, crude oil prices surged on Friday with Brent crude oil nearing $73 per barrel.

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15:48 (IST)20 Jul 2018
Sensex Today: Top movers

15:42 (IST)20 Jul 2018
Closing Bell!

Indian stock markets ended higher on Friday with BSE Sensex rising 145 points and NSE Nifty finishing the week above 11,000-mark. BSE Sensex surged 145.14 points or 0.40% to end at 36,496.37 whereas NSE Nifty added 53.10 points or 0.48% to settle at 11,010.20.

15:28 (IST)20 Jul 2018
Markets erase gains as closing bell nears

The domestic equity markets partly erased gains in the last minutes of the trading on Friday with Sensex falling below 36,500 and Nifty easing 22 points from the day's high. BSE was trading at 36,493.65 up by 0.39% and NSE Nifty was trading at 11,008.40, up by 0.47%. 

15:22 (IST)20 Jul 2018
Indian Hotels Company to open 8 new hotels this year

Tata Group's international hotel chain firm Indian Hotels Company will be opening eight new hotels this year and is targeting a 30% revenue growth over the next few years as the sentiment has turned positive for the industry, said N Chandrasekaran, Chairman, Tata Sons. 

15:13 (IST)20 Jul 2018
Kansai Nerolac Paints trades flat

Kansai Nerolac Paints share price was trading little changed, down 0.37% at Rs 479.1 after the chemical manufacturer reported a marginal decline in the Q1 FY19 profit to Rs 139.84 crore.

15:07 (IST)20 Jul 2018
Bajaj Auto tanks 9%

Bajaj Auto share price fell nearly 9% after reporting weaker-than-expected results for the first quarter of the financial year 2018-2019. The stock of Bajaj Auto dropped 8.92% to a day's low of Rs 2,835.25 on BSE today. 

15:02 (IST)20 Jul 2018
HDFC Life gain 4%

Shares of HDFC Life surged nearly 4% after the life insurer posted a 20% rise in the net profit to Rs 380 crore for the Q1 FY19. The stock of HDFC Standard Life Insurance rose 3.77% to a day's high of Rs 489 on BSE today. 

14:59 (IST)20 Jul 2018
Regional Asian markets at close

Despite a muted start, most Asian markets finished higher. Japan's Nikkei 225 bucked the regional trend, losing 0.3% to 22,697.88. South Korea's Kospi added 0.3% to 2,289.19, Hong Kong's Hang Seng gained 0.8% to 28,224.48 and the Shanghai Composite Index rebounded 2.1% to 2,829.27, Associated Press reports. 

14:58 (IST)20 Jul 2018
European markets fall in opening trade!

World markets were mixed Friday as deliberations over more US tariffs on European countries and China weighed on sentiment, AP reported. Eurozone shares tumbled on Friday as autos and banks stocks gave up their gains amid rising trade tensions which caused a selloff in the Chinese yuan and US stock markets overnight, Reuters said in a report. 

14:50 (IST)20 Jul 2018
RIL, Infosys boost Sensex while HDFC twins & Bajaj Auto bleed

Shares of RIL, Infosys provided the major boost to the benchmark Sensex while other heavyweight stocks such as HDFC, HDFC Bank, Bajaj Auto and Kotak Mahindra Bank. Shares of RIL and Infosys alone added about 150 points to the Sensex. 

14:22 (IST)20 Jul 2018
NSE Nifty 50: Top 10 gainers!

14:18 (IST)20 Jul 2018
Markets @ Lunch!

13:23 (IST)20 Jul 2018
Crude oil prices rise slightly

Crude prices rose on Friday but were still set for a weekly drop on concerns about oversupply and the ongoing trade conflict between the United States and China, the world's two biggest oil users, Reuters reported. 

13:22 (IST)20 Jul 2018
Essel Corp to acquire 1.15% stake in Zee Entertainment

Essel Corporate LLP plans to acquire 1.1 crore shares, or 1.15% stake, of Zee Entertainment Enterprises (ZEEL) from another promotor group entity at an estimated price of over Rs 610 crore.

13:10 (IST)20 Jul 2018
Rahul Gandhi speaks on the no-confidence motion

Congress President Rahul Gandhi began his speech on the no-confidence motion.

12:55 (IST)20 Jul 2018
Big recovery! Rupee jumps 30 paise vs USD

Image result for rupee reuters

The Indian rupee extended gains after posting sharp recovery from the all-time low against US dollar in the afternoon deals at the interbank foreign exchange market. The rupee touched a day's high of 68.8237, up by 30 paise from the all-time low of 69.1263 and is up by 22 paise from Thursday's closing of 69.0500. 

12:46 (IST)20 Jul 2018
Bajaj Auto PAT rises 21% but misses Reuters estimates

Bajaj Auto posted a near 21% rise in first-quarter profit on Friday, helped by higher sales volume, but missed analysts' expectations, Reuters said in a report. A PAT of Rs 12.47 billion was seen by an average estimate of 18 analysts, a Reuters report said citing Thompson Reuters data but Bajaj Auto reported a PAT of Rs 11.15 billion. 

12:43 (IST)20 Jul 2018
Sterlite Tech jumps 10%

Shares of optical fibre maker Sterlite Technologies on Friday surged over 10% after the company posted a nearly two-fold jump in net profit to Rs 121 crore for the June quarter due to strong demand for its products in the domestic market.

12:34 (IST)20 Jul 2018
Bajaj Auto shares crash nearly 5%

Shares of Bajaj Group's automaker Bajaj Auto fell nearly 5% after the Q1 FY19 earnings release. Bajaj Auto on Friday reported a rise of 21% in the net profit for the period of April-June FY19 to Rs 1,115.23 crore from Rs 923.93 crore in the same quarter last year. 

"Post the applicability of GST with effect from 1 July 2017, Sales are required to be disclosed net of GST. Accordingly, the Gross sales figures for thequarter ended 30 June 2018 are not comparable with the previous periods presented in the results," Bajaj Auto said in a statement. 

12:29 (IST)20 Jul 2018
Buy RBL Bank and gain up to 17%

The domestic research and brokerage firm Motilal Oswal Securities has given a 'buy' to the shares of RBL Bank on strong Q1 FY19 earnings. MOSL has given a target price of Rs 650 which implies an upside of 17% from the current market prices. "With loan CAGR of ~36% over FY18-20E, we expect stable/improving margins due to a changing loan mix toward high-yielding loans, while operating leverage is likely to improve gradually. We maintain Buy with a TP of INR650 based on 3.4x Mar’20E ABV," Motilal Oswal Securities said in a report. 

12:16 (IST)20 Jul 2018
Prakash Industries down 10% in 2 days

Shares of Prakash Industries have fallen around 10% in the last two days after the investigative agency Enforcement Directorate has filed a prosecution complaint under PMLA against VP Agarwal, Chairman, Prakash Industries & others involved in Fatehpur Coal Block Allocation case.

12:05 (IST)20 Jul 2018
Dr Reddy's lauches Acid Reflux drug in US

The Hyderabad-based drug maker Dr Reddy's Laboratories has announced the launch of OTC (over-the-counter) Esomeprazole magnesium delayed-release capsules USP, 20 mg which is used to treat acid reflux, in the US market.

12:03 (IST)20 Jul 2018
Chinese Yaun bounces back from 1-year low vs USD

China's yuan bounced back from more than one-year lows against the US dollar on Friday afternoon, after traders said major state banks sold dollars to prop up the fragile Chinese currency which has been roiled by a bitter Sino-US trade conflict, a Reuters report said. The People's Bank of China lowered its yuan midpoint for the seventh straight trading day to 6.7671 per dollar on Friday, 605 pips or 0.9% weaker than the previous fix of 6.7066.

12:01 (IST)20 Jul 2018
Market-wide buying seen as shares gain from small-cap to large-cap

11:57 (IST)20 Jul 2018
Gayatri Projects wins Rs 2,700 crore orders

Gayatri Projects has bagged two orders worth Rs 2,759 crore for development of Purvanchal Expressway project from Uttar Pradesh Expressways Industrial Development Authority, the company said in an exchange filing. 

11:56 (IST)20 Jul 2018
Zydus Cadila USFDA approval

Zydus Cadila has received final approval from the USFDA to market Spironolactone tablets in the strengths of 25 mg, 50 mg and 100 mg, used to treat high blood pressure and heart failure. 

11:44 (IST)20 Jul 2018
Is Rupee's loss IT company's gain?

The Indian rupee fell to its all-time low value against the US dollar today breaching the 69.12 per unit USD mark for the first time in the history. The United States is the biggest market for India's IT companies. 

11:40 (IST)20 Jul 2018
Free-fall in PC Jeweller shares

Shares of PC Jeweller are falling continuously since after the New Delhi-based jewellery maker has cancelled the share buyback program. The stock of PC Jeweller has lost more than 45% to over a 4-year low of Rs 65.35 from a share price level of Rs 119.95 as on 13 July 2018. 

11:35 (IST)20 Jul 2018
IT firms shine on rupee's weakness

Shares of most of the domestic IT firms rose with the benchmark Nifty IT index rising more than 1% after the Indian rupee hit an all-time low against US dollar. Shares of major Indian IT companies such as Infosys, Tech Mahindra, TCS, Wipro surged in the trades today. India's largest IT company and Tata Group's cash cow TCS rose 0.94% to a day's high of Rs 2,000. Other stocks that also surged in the trade today are Infosys (up 3.84%), Wipro (up 1.79%), Tech Mahindra (up 2.81%) and HCL Tech (up 1.73%). 

11:27 (IST)20 Jul 2018
Rupee gains 27 paise vs US dollar

The Indian rupee posted sharp recovery in the late-morning deals against the US dollar. The rupee gained as much as 27 paise to 68.8537 per unit US dollar at the foreign exchange market from the all-time low of 69.1263, Bloomberg data showed. 

11:18 (IST)20 Jul 2018
No-trust motion voting at 6 pm today

The outcome of the no-confidence motion will be decided at 6 pm today in Lok Sabha. 

11:11 (IST)20 Jul 2018
Market Check

Sensex was trading up 138.47 points or 0.38% at 36,489.70 while Nifty was trading at 10,999.10, higher by 42 points or 0.38%. 

11:10 (IST)20 Jul 2018
Lok Sabha proceedings begin!

The proceedings in Lok Sabha began with BJD walking out of no-confidence proceedings in Lok Sabha.

11:06 (IST)20 Jul 2018
Bajaj Finance hit all-time high; Jefferies raises target price

Shares of Bajaj Group's NBFC Bajaj Finance rose more than 6% to hit an all-time high of Rs 2,690 tracking the third straight session of gains. According to a Reuters report, the global research and brokerage firm Jefferies has raised the target price of Bajaj Finance shares. Jefferies raised the target price to Rs 2,900 from Rs 2,400 maintaining a 'buy' rating. Valuations appear steep, but this may sustain unless growth slows or asset quality slips, which is unlikely in near term, Jefferies was seen as saying in a Reuters report.

10:58 (IST)20 Jul 2018
RIL hits fresh record high

Shares of Mukesh Ambani-led oil-to-textile-to-telecom conglomerate Reliance Industries Ltd (RIL) hit fresh all-time high in the late morning deals on Friday. The stock of RIL rallied 2.25% to a fresh record high of Rs 1,128.75 on BSE today. On the basis of all-time high share price, RIL topped a market value of Rs 7.14 lakh crore. 

10:37 (IST)20 Jul 2018
Infosys surges 3%

Shares of India's largest IT company Infosys surged more than 3% in the morning trades on Friday. The stock of Infosys gained 3.36% to a day's high of Rs 1,360.85 from a share price level of Rs 1,316.55 on BSE. 

10:26 (IST)20 Jul 2018
Yuan falls to over 1-year low

The Chinese yuan slumped to a more than one year low on Friday while the dollar edged down against major peers after US President Donald Trump expressed concern about the currency's strength, Reuters said in a report. The yuan fell after China's central bank set the daily midpoint for onshore trading lower for a seventh straight day, the report added.  The offshore yuan dropped more than 0.5% to as low as 6.8358 per dollar, its lowest level since June 27, 2017.

10:12 (IST)20 Jul 2018
Did RBI intervene? Rupee

Traders have been cautious of the Reserve Bank of India stepping in to prevent a sharp fall in the currency, a Reuters report said. 

10:05 (IST)20 Jul 2018
Rupee to dollar latest exchange rate: INR/USD = 68.9875

Image result for rupee reuters

10:02 (IST)20 Jul 2018
Big Blue-chip gainers of today!

The key equity indices Sensex and Nifty traded unfazed following the proceeding of the no-confidence motion in Lok Sabha. The domestic equity markets extended gain after paring morning losses following the flat opening on Friday while Indian rupee recovered very quickly from the all-time low of 69.12 vs US dollar. The Indian rupee (INR) plunged to a new all-time low against the US dollar in the early morning deals on the interbank foreign exchange market.
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