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  1. Share Market Highlights: Sensex jumps to record high, Nifty closes above 11000 level on RIL, HDFC rally

Share Market Highlights: Sensex jumps to record high, Nifty closes above 11000 level on RIL, HDFC rally

Share Market Highlights: The domestic equity markets surged to record high on Thursday, with Sensex climbing 282.48 points to close at a new peak of 36,548.41 while Nifty up 74.90 points to 11,023.20.

By: | Updated:Jul 12, 2018 4:33 pm
Share Market Highlights: The domestic equity markets surged to record high on Thursday.

Share Market Highlights: The domestic equity markets surged to record high on Thursday, with Sensex climbing 282.48 points to close at a new peak of 36,548.41 while Nifty up 74.90 points to 11,023.20. Nifty is less than 2% from record high. Shares of Reliance Industries Limited (RIL) emerged as the winner among Sensex and Nifty today with its share price rising nearly 4% as it also became the second company after TCS to touch $100 billion market cap. HDFC ended the day nearly 2% up at rs 1961.75.

On Wednesday, Indian equity markets ended on a flatter note on  with Sensex and Nifty just managing to close in green while mid-cap stocks, auto shares, PSU bankers and metals finished with moderate to heavy losses.

 

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Share market Highlights: Check top gainers, losers

16:28 (IST) 12 Jul 2018
Expert take

“Increased crude oil prices can stoke inflation, which in turn can increase the cost of capital. Hence, these are real risks which we should be aware of. However, according to us these are also transient factors which keep changing with regular frequency and hence should not be used as primary tools to make investment decisions. As investors, we should focus on longer term structural value drivers which determine a company’s earnings multiple and hence are more important."

-  Vinay Paharia, CIO, Union AMC

15:36 (IST) 12 Jul 2018
Closing Bell!

BSE Sensex jumps 282 points to settle at record closing high as Nifty50 tops 11,000. Shares of RIL surge 4%, Vedanta drops 3%. Nifty is less than 2% from record high. Reliance market cap  today came back at over $100 billion after a gap of 10 years.

15:24 (IST) 12 Jul 2018
Karnataka Bank Q1 results

Karnataka Bank reports Q1 earnings with net profit at Rs 163.2 cr Vs Rs 133.8 cr (YoY). Karnataka Bank Q1 provision coverage ratio  isat 57.21% Vs 41.1% (QoQ); NII up 10.4% at Rs 468.6 cr Vs Rs 424.4 cr (YoY).

15:22 (IST) 12 Jul 2018
Cipla's subsidiary to buy South Africa's Mirren South African Rand for nearly 228 crore

Drug major Cipla's subsidiary has signed an agreement to fully acquire South Africa's Mirren (Pty) Ltd for a cash consideration of South African Rand 450 million (approx Rs 228 crore). Cipla said the acquisition of Mirren, which specialises in over the counter (OTC) pharmaceutical products, will strengthen its market position and help it to accelerate growth within OTC space.

15:10 (IST) 12 Jul 2018
Mutual fund inflow rises 43% to Rs 1.4 lakh crore in Q1

Investors have pumped Rs 1.4 lakh crore into mutual fund (MF) schemes in April-June quarter this fiscal, a surge of 43 per cent from the year-ago period, driven by strong participation from retail investors.  According to Association of Mutual Funds of India (Amfi) data, the inflow has also helped in pushing the assets base of the 42-player MF industry to Rs 23.40 lakh crore at the end of June this year, an increase of 20 per cent from Rs 20.40 lakh crore in June-end 2017.

15:00 (IST) 12 Jul 2018
BSE Sensex Heatmap

14:58 (IST) 12 Jul 2018
Sebi tweaks stress test methodology for commodity derivatives

Markets regulator Sebi has modified the methodology for daily stress testing for commodity derivatives as part of strengthening the risk management system. Clearing corporations carry out stress tests to evaluate risks and possible impact on the settlement guarantee fund in various scenarios for commodity derivatives segment, PTI reported.

14:53 (IST) 12 Jul 2018
Global stocks, commodities recover after latest trade war jolt

Stocks and commodities recovered slightly on Thursday as markets tried to consolidate from the previous session's steep losses when fears of an escalation in the U.S.-China trade war jolted investor sentiment. Spreadbetters expected European stocks to open higher, with Britain's FTSE gaining 0.3 percent, Germany's DAX adding 0.35 percent and France's CAC 0.4 percent. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent.

14:45 (IST) 12 Jul 2018
Copper futures rise 0.56% on overseas cues

Copper prices went up by 0.56 percent to Rs 422.50 per kg in futures trade today as speculators built up of fresh positions amid positive global cues. Besides, uptick in demand from consuming industries at the domestic spot market fuelled the uptrend. At the Multi Commodity Exchange, copper for delivery in August rose by Rs 2.35, or 0.56 per cent, to Rs 422.50 per kg in a business turnover of 1,200 lots. Likewise, the metal for delivery in November gained Rs 2.25, or 0.53 per cent, to Rs 429.85 per kg in 13 lots.

14:31 (IST) 12 Jul 2018
Copper picks up from near from 1-year low; nickel surges

London copper shrugged off an early dip to trade higher on Thursday, while nickel jumped by as much as 3.8 percent as base metals staged a fragile recovery from the recent trade war-driven sell-off. Heavy losses in the previous session had pushed London Metal Exchange (LME) copper to its weakest in an almost a year as trade tensions between the United States and China undermined confidence in demand for metals, Reuters reported.

14:27 (IST) 12 Jul 2018
Coal India stake sale

Finance Ministry official says government aims to sell atleast 1.5% stake in Coal India, 7-10% in NLC India by August 31. The government may likley raise total Rs 3,300-3,600 crore from stake sales in Coal India, NLC, CNBC TV18 reported citing NewsRise .

14:25 (IST) 12 Jul 2018
Dr Reddy's rises on US drug hopes; UK rival Indivior cuts guidance

Dr Reddy's Laboratories Ltd rise as much as 3.8 pct to 2,387.65 rupees, its highest in 3 weeks. Rival British drugmaker Indivior lowered its full-year sales forecast saying it was losing sales of its opioid addiction drug Suboxone to a copycat launched last month by Dr Reddy's and U.S. firm Mylan NV. Suboxone, which Indivior launched in the United States in February, contributes 80 percent to its total revenue

14:08 (IST) 12 Jul 2018
Bearish bets on Asian currencies recede slightly, but caution prevails

Investors trimmed their bearish positions on emerging Asian currencies over the past two weeks, a Reuters poll showed, although escalating Sino-U.S. tensions worsened the mid-term outlook for regional units. Risky asset classes such as regional equities and currencies were battered over the past few months amid a deepening dispute on trade the United States and China., Reuters reported.

13:56 (IST) 12 Jul 2018
Dollar near 1 1/2-week highs as US price data eyed

The dollar held at a nine-day high on Thursday, bolstered by concern U.S. inflation pressures will pick up, although worries about an escalation in trade conflict capped gains. The conventional wisdom is that any escalation in trade conflict between the United States and its trading partners will feed through to inflation and prompt the U.S. Federal Reserve to raise interest rates at least twice more this year. But market watchers fear the dollar may have peaked for now, Reuters reported.

13:48 (IST) 12 Jul 2018
Gold prices edge up amid trade war worries

Gold prices edged up on Thursday, snapping two sessions of declines amid worries over the intensifying trade war between the United States and China. Spot gold was up 0.2 percent at $1,244 an ounce at 0650 GMT. In the previous session, it slipped 1 percent to hit its lowest in over a week at $1,240.89. U.S. gold futures for August delivery were little changed at $1,244 an ounce, Reuters reported.

Share Market Highlights: Sensex jumped 282.48 points on Thursday to close at a new peak of 36,548.41 while Nifty ended up 74.90 pts to 11,023.20. The surge was led by RIL and HDFC shares which ended the day up by 4% and 2% respectively. On Wednesday, Indian equity markets ended on a flatter note on  with Sensex and Nifty just managing to close in green.

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