Share Market Today: RIL, TCS, 5 other blue-chip stocks hit all-time high while Sensex, Nifty end flat

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Updated:Jul 19, 2018 4:12:25 pm

Share Market Today: Indian stock markets finished lower on Thursday with BSE Sensex and NSE Nifty ending marginally down in negative territory due to the plunge in shares of India's second-largest bank by market capitalisation Kotak Mahindra Bank following Q1 FY19 results.

Share Market Today: A man walking across the Bombay Stock Exchange building. (Image: Reuters)

Share Market Today: Indian stock markets finished lower on Thursday with BSE Sensex and NSE Nifty ending marginally down in negative territory due to the plunge in shares of India’s second-largest bank by market capitalisation Kotak Mahindra Bank following Q1 FY19 results. The Indian rupee shed 24 paise against US dollar in the afternoon deals. Indian equities started the day at a positive note on Monday with BSE Sensex gaining more than 100 points and NSE Nifty retaking 11,000. On the wider stretch, the domestic markets traded under pressure on Thursday with small and mid-cap stocks facing the bearing the major brunt. The benchmark Nifty Smallcap 100 and Nifty Midcap 100 were down up to 1.3%.

Crude oil prices were mixed on Thursday as the market struggled to digest signs of strong gasoline demand in the United States, the world’s biggest consumer of the fuel, with a statement from oil producers that they are putting more crude on the market, a Reuters report said. Meanwhile, Asian shares made early gains on Thursday as upbeat Wall Street earnings supported global investor sentiment, although trade war jitters pushed China’s offshore yuan to a fresh one-year low, Reuters reported.

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Highlights

    16:01 (IST)19 Jul 2018
    7 large-cap/blue-chip shares hit all-time high

    S. No.StockAll-time high (Rs)
    1Reliance Industries Ltd1114
    2Tata Consultancy Services Ltd2009.95
    3Yes Bank Ltd393.35
    4Asian Paints1408
    5Bajaj Finance2535.5
    6Bandhan Bank632.4
    7Godrej Consumer Products1358.80

    15:47 (IST)19 Jul 2018
    Market stats today

    Out of the total 2,727 companies traded on BSE, 830 shares ended in green, 1,747 stocks ended in red while 150 concluded unchanged on BSE. About 34 stocks hit 52-week highs while as many as 431 stocks hit their respective 52-week lows. The Reserve Bank of India fixed a rupee reference rate at 68.8331 per unit US dollar on Thursday.

    15:40 (IST)19 Jul 2018
    Kotak Mahindra Bank -- Biggest Sensex loser today

    15:38 (IST)19 Jul 2018
    Closing bell

    Indian stock markets closed flat on Thursday with the headline indices Sensex and Nifty finishing marginally down as heavyweight shares of Kotak Mahindra Bank, L&T, HDFC, TCS, ICICI Bank and Infosys dragged. BSE Sensex closed 22.21 points or 0.06% lower at 36,351.23 while NSE Nifty settled down 23.35 points or 0.21% at 10,957.10 on Thursday. 

    15:25 (IST)19 Jul 2018
    Kotak Mahindra Bank sees biggest fall in 9 months

    Shares of Kotak Mahindra Bank fell as much as 4.6% to a day's bottom of Rs 1,333.85 on Thursday following the Q1 FY19 earnings release. This is the lowest level in more than two weeks and the biggest percentage loss since 25 October 2017. Twenty-five of 33 brokerages rate stock "buy" or higher, 5 "hold" and 3 "sell" or lower; median PT is 1,369.50 rupees, a Reuters report said.

    15:12 (IST)19 Jul 2018
    Sensex 36,000: Where from now?

    The benchmark Sensex index hit an intraday record high on Wednesday. According to a Reuters report, BSE Sensex has strong support at 36,278 and resistance at 36,692 levels. 

    14:53 (IST)19 Jul 2018
    Sensex at 36,321.29, down by 52.15 points or 0.14%: Big movers today

    14:46 (IST)19 Jul 2018
    Buyback u-turn impact?

    The New Delhi-based jewellery maker PC Jeweller has lost 43% of its stock market value within the span of last 4 days including today. The stock of PC Jeweller has fallen by 43.3% to a multi-year low of Rs 68 from a share price level of Rs 119.95 on BSE. This is the lowest level in over 4 years. Today only, the stock made a low of Rs 68, down by 14.71%. 

    14:41 (IST)19 Jul 2018
    Pharma sell-off

    All the constituents of Nifty Pharma index were trading in negative territory barring the share of Glenmark. The stock of Cadila Healthcare, Biocon, Cipla, Aurobindo Pharma and Lupin shed 0.7% to 3.2%. 

    14:32 (IST)19 Jul 2018
    Lupin gets USFDA nod for erctile dysfunction drug

    The Hyderabad-headquartered drugmaker Lupin has received tentative approval from the US FDA for its Tadalafil tablets which is used to treat erectile dysfunction and prostate gland enlargement. Lupin will now be able to market Tadalafil tablets in strengths of 2.5 mg, 5 mg, 10 mg, and 20 mg, in the US. 

    14:30 (IST)19 Jul 2018
    IOC, BPCL, Gautam Adani emerges as top bidders for gas licences

    Government-run oil marketers IOC & BPCL and Gautam Adani's group were the top bidders for gas retailing licences in the country's biggest city gas distribution (CGD) bid round. Of the 86 cities offered for retailing of CNG to automobiles and piped cooking gas to households in the 9th CGD bid round, IOC bid for 34 cities on its own and another 20 in partnership with Adani Gas Ltd, PTI reported citing Petroleum and Natural Gas Regulatory Board.

    14:26 (IST)19 Jul 2018
    Nifty IT index bleed

    All the components of the benchmark Nifty IT index were trading in negative territory with shares of Mindtree, Tata Elxsi, KPIT, OFSS, TCS leading the losses. 

    14:23 (IST)19 Jul 2018
    Adani Group stocks surge up to 8%

    Shares of Adani Group surged up to 8% on Thursday with the stock of Adani Power rising the most. Adani Power share rose 7.8% to Rs 22.1, Adani Enterprises rose 5.39% to Rs 149.55 while Adani Ports gained 1.47% to Rs 369.45 on BSE today. 

    14:17 (IST)19 Jul 2018
    Markets at lunch

    13:12 (IST)19 Jul 2018
    Kotak Mahindra Bank cracks 3%

    Kotak Mahindra Bank shares extended the losses in the afternoon dealings following the Q1 FY19 results announcement. The stock of Kotak Mahindra Bank tumbled 3.33% to a day's low of Rs 1,355.25 from a share price level of Rs 1,402.05. Kotak Mahindra Bank stock was the biggest loser among Sensex scrips. 

    13:10 (IST)19 Jul 2018
    Bharti Airtel surges 3%

    Shares of Bharti Airtel rose more than 3% in the afternoon trades on Thursday to Rs 347.2 from a share price level of Rs 336.8. The stock of Bharti Airtel was the top gainer among all the components of the BSE Sensex index. 

    13:03 (IST)19 Jul 2018
    Kotak Mahindra Bank Q1 Results 2019: Subsidiary results

    For Q1 FY19, Kotak Mahindra Bank's contribution to the net profit was Rs 1,025 crore. Kotak Securities reported a PAT of Rs 130 crore, Kotak Mahindra Life Insurance reported PAT Rs 117 crore, Kotak Mahindra Prime contributed Rs 139 crore, Kotak Mahindra Investments posted a PAT of Rs 48 crore for Q1 FY19. The domestic mutual fund management and trustee company contributed Rs 51 cr for Q1 FY19, Kotak Mahindra Bank said in a statement. 

    12:54 (IST)19 Jul 2018
    Kotak Mahindra Bank Q1 Resutls

    Uday Kotak-led Kotak Mahindra Bank on Thursday reported an increase of 17% in the consolidated net profit to Rs 1,574.48 crore from Rs 1,346.82 crore in Q1 FY18 while the net profit fell by 12% as compared to Rs 1,789.24 crore in Q4 FY18. On the assets front, gross NPA ratio as a percentage of gross advances was at 1.93% from 1.95% as at 31 March 2018 and 2.24% as at 30 June 2017. 

    12:45 (IST)19 Jul 2018
    Kotak Mahindra Bank Q1 Results 2019: Stock Falls over 2%

    Shares of Kotak Mahindra Bank fell more than 2% after India's fourth-largest private sector lender reported a rise of 17% in the consolidated net profit for the April-June period. The stock of Kotak Mahindra Bank dropped 2.3% to a day's low of Rs 1,369.8 following the earnings release.

    12:30 (IST)19 Jul 2018
    Crude oil prices fall

    Oil prices dropped on Thursday after official data showed an unexpected rise in US crude stockpiles and as U.S. output scaled record levels, a Reuters report said. With the latest data available, WTI crude oil was trading at $68.70, down by 0.09% per barrel and Brent crude oil was trading 0.32% lower at 72.67 a barrel, Bloomberg data showed. 

    12:11 (IST)19 Jul 2018
    Why is rupee falling today

    Most of the Asian currencies were trading lower against the US dollar today. Asian currencies dropped against the dollar on Thursday as concerns over a tariff war between the United States and China endured, keeping investors cautious on regional trades, Reuters reported. "When you take the dollar against the euro for example, it is more or less in range trading. But Asian currencies have further weakened against the U.S dollar," Reuters said in a report citing Sim Moh Siong, FX strategist, Bank of Singapore. 

    12:06 (IST)19 Jul 2018
    Markets at noon: Sensex up, Nifty down

    The domestic share markets were trading mixed in the mid-morning session on Thursday with BSE Sensex trading slightly up in green while NSE Nifty was trading in the red. BSE Sensex trading at 36,404.84, up by 0.09% while NSE Nifty trading at 10,973.35, down by 0.06%. 

    12:03 (IST)19 Jul 2018
    Forex Check: rupee loses 24 paise against US dollar

    The Indian rupee lost about 24 paise vs US dollar in the mid-morning deals at the interbank foreign exchange market on Thursday. The rupee exchange rate was at 68.8663 apiece US dollar, Bloomberg data showed. Up until now, the rupee has shuttled between the range of 68.8663 and 68.6837 against USD. 

    11:48 (IST)19 Jul 2018
    Infosys-BMRC MoU

    “We are extremely happy to have Infosys Foundation support BMRCL’s expansion plan in Konappana Agrahara towards building a new metro station. The station is expected to be operational by 2021 and we encourage citizens of Bengaluru to fully avail the services of the metro rail and other public transportation systems. The government is extremely proud of BMRCL’s achievements till date, and would like to congratulate BMRCL and Infosys Foundation on this momentous occasion,” said H.D. Kumaraswamy, Chief Minister, Karnataka.

    “The metro is among the finest infrastructure projects our city is developing, and it is a boon to thousands of commuters in the city. Infosys Foundation is proud to contribute to this metro expansion program. Once operational, it will help further ease the traffic situation in Bengaluru and encourage office-goers to embrace public transportation,” said Sudha Murty, Chairperson, Infosys Foundation.

    11:46 (IST)19 Jul 2018
    Infosys-BMRC MoU

    “We are extremely happy to have Infosys Foundation support BMRCL’s expansion plan in Konappana Agrahara towards building a new metro station. The station is expected to be operational by 2021 and we encourage citizens of Bengaluru to fully avail the services of the metro rail and other public transportation systems. The government is extremely proud of BMRCL’s achievements till date, and would like to congratulate BMRCL and Infosys Foundation on this momentous occasion,” said H.D. Kumaraswamy, Chief Minister, Karnataka. 

    “The metro is among the finest infrastructure projects our city is developing, and it is a boon to thousands of commuters in the city. Infosys Foundation is proud to contribute to this metro expansion program. Once operational, it will help further ease the traffic situation in Bengaluru and encourage office-goers to embrace public transportation," said Sudha Murty, Infosys Foundation Chairperson.

    11:43 (IST)19 Jul 2018
    Just in: Infosys Foundation signs MoU with Bangalore Metro Rail Corporation

    Infosys Foundation, the philanthropic arm of Infosys, today announced that it has signed a Memorandum of Understanding (MoU) with the Bangalore Metro Rail Corporation Limited (BMRCL) towards the construction of a station at Konappana Agrahara, in Electronics City, Infosys said in a statement. This station is under the second phase of Bangalore Metro’s expansion plans and the Foundation has committed to maintaining this station for the next 30 years, Infosys added.  

    11:40 (IST)19 Jul 2018
    RBL Bank shares drop 3% on Q1 FY 19 results

    Shares of RBL Bank shed as much as 3% to a day's low of Rs 548 even after the Mumbai-based private sector lender posted a 35% rise in the standalone net profit for the quarter ended April-June to Rs 190.04 crore. Net advances grew 36% to Rs 42,198.09 crore and deposits rose 27% to Rs 44,949.59 crore YoY. On a sequential basis, gross NPA ratio reduced to 1.40% from 1.46% in Q1 FY18 while net NPA ratio eased to 0.75% from 0.81% in Q1 FY18. 

    11:28 (IST)19 Jul 2018
    Sensex regains momentum

    11:15 (IST)19 Jul 2018
    Why are mid-cap IT stocks tumbling

    Shares of MindTree, Larsen & Toubro Infotech and Hexaware Tech have fallen between 4.3% and 11.5%. 'Mid-cap IT stocks are facing valuation correction as they were trading at very high valuations compared with their historical averages,' Reuters reported citing Sudheer Guntupalli, a technology sector analyst, Ambit Capital. 

    11:13 (IST)19 Jul 2018
    Zydus Cadilla receives final approval from USFDA

    The Ahmedabad-based drug maker Zydus Cadila has received final approval from the US health regulator to market Piroxicam Capsules USP in the strengths of 10 mg and 20 mg, used for the treatment of osteoarthritis and rheumatoid arthritis.

    11:00 (IST)19 Jul 2018
    Market recovers partly

    Indian equity markets recovered partly in the mid-morning deals with the headline indices Sensex and Nifty trading in green as shares of RIL, M&M, Axis Bank, HUL, Vedanta contributed heavily to the index gains. BSE Sensex was trdfing at 36,433.62, up by 0.17% and NSE Nifty trading up 0.01% at 10,981.1. 

    10:52 (IST)19 Jul 2018
    Breaking! Chinese Yuan hits 1-year low

    China's yuan fell to a one-year low against the dollar on Thursday after the official fix was set below the key 6.7 per dollar, while at the same time authorities moved to control risks of destabilising capital flows as Beijing's trade row with the United States intensified, Reuters said in a report. China's foreign-exchange regulator said it has to assess the impact of trade friction on capital flows and will use "counter-cyclical" measures to respond to short-term volatility, but expressed confidence Beijing can cope with any challenge, given its "ample" reserves, the report added. 

    10:50 (IST)19 Jul 2018
    Why is Ashok Leyland stock under pressure

    "Increase in the rated load of CVs has created uncertainty and confusion among the industry participants. While this will lead to near-term weakness in volumes, clarity on this will determine severity of impact on FY19 volumes. Assuming retrospective implementation, FY19 volumes could be under severe stress as fleet’s capacity goes up overnight. FY20 story would be of two halves, with strong demand in 2HFY20 due to pre-buy ahead of BS6," Motilal Oswal Securities said in a research report.

    10:47 (IST)19 Jul 2018
    Ashok Leyland: Unusuall trading volumes seen

    Extremely high trading volumes were seen in the shares of Ashok Leyland. Until now, more than 7.7 crore equity shares exchanged hands on NSE alone. The stock of Ashok Leyland recovers morning losses, trading up 1.54% at Rs 112.25 on NSE. 

    10:40 (IST)19 Jul 2018
    Planning to invest in TCNS Clothing IPO?

    TCNS Clothing IPO opens: 7 key things to know before you subscribe to Rs 1,125 crore public offer

    TCNS Clothing garnered about Rs 337 crore from the anchor investors by allotting as many as 47.14 lakh equity shares at the upper end of the price band. TCNS Clothing IPO will remain open for three days starting today, 18 July till Friday, 20 July 2018. TCNS designs, manufactures, markets and retails its products within multiple brands namely — W, Aurelia and Wishful.

    10:37 (IST)19 Jul 2018
    35% gain opportunity: Buy Federal Bank, says Prabhudas Lilladher

    Recently this week only, Federal Bank shares saw a spike of 21% intraday after the Kochi-based mid-sized lender posted 25% rise in the net profit. Shares of Federal Bank have mostly fallen in CY 2018. The research and brokerage firm Prabhudas Lilladher has given a 'buy' with a target price of Rs 119 which implies an upside of 35% from the current market price. 

    "We believe, loan growth momentum and steady NIMs (near-term headwinds to even out over the FY) will help PPOP, while asset quality will be helped by lower stress and enhancement of PCR which should see return ratios return back to course. Retain BUY with revised TP of Rs119 (from Rs128) based on 1.9x Mar FY20E (reduced from 2.0x as we slightly tweak our COE assumptions)," Prabhudas Lilladher said in a report. 

    10:26 (IST)19 Jul 2018
    FIIs and DIIs are buying, but stocks are falliing?

    With the latest data available with the stock exchanges, Domestic institutional investors (DIIs) bought shares worth a net of Rs 111 crore and foreign portfolio investors (FPIs) bought shares worth a net of Rs 95.68 crore on Wednesday. 

    10:23 (IST)19 Jul 2018
    Telecom Industry to remain under competitive pressure

    The global research and brokerage firm Jefferies remains cautious on telecom sector as it expects competitive intensity to remain high as fight for market share continues, Reuters reported. Q1 results will be muted with ARPU down between 4-7% QoQ and sub addition remaining low, Jefferies was seen as saying in a Reuters report. 

    10:18 (IST)19 Jul 2018
    Just Dial share price falls 3% ahead of board meet

    Shares of Just Dial fell more than 3% in the morning deals on Thursday ahead of the board meeting scheduled on Friday. In tomorrow's board meeting, Just Dial consider unaudited Q1 FY 19 results and share buyback program.

    10:14 (IST)19 Jul 2018
    Nifty PSU Bank swings in green!

    Indian equities started the day at a positive note on Monday with BSE Sensex gaining more than 100 points and NSE Nifty retaking 11,000. On the wider stretch, the domestic markets traded under pressure on Thursday with small and mid-cap stocks facing the bearing the major brunt. The benchmark Nifty Smallcap 100 and Nifty Midcap 100 were down up to 1.3%.