Stock market today: Sensex gains 267 points, Nifty ends above 10750; HDFC twins, RIL shine

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Updated:Jul 04, 2018 3:47:56 pm

Sensex, Nifty today: The domestic stock markets extended gains after opening flat on Wednesday and finally closed higher despite weak global cues and downtick in the regional Asian stock markets.

Notably, equities in Japan dropped, while indexes in South Korea and Australia were flat.

Sensex, Nifty today: The domestic stock markets extended gains after opening flat on Wednesday and finally closed higher despite weak global cues and downtick in the regional Asian stock markets. Market participants mood seemed to have lifted by the government’s okaying MSP hike. The Sensex opened at 35,385, while the broader Nifty50 opened above the psychological 10,700 level. At closing, shares of Bajaj Auto, Maruti Suzuki, HUL, HDFC, RIL, HDFC Bank, IndusInd Bank, Coal India, Kotak Mahindra Bank were the top gainers while shares of NTPC, ONGC, Vedanta, Tata Motors, Bharti Airtel and Adani Ports were the top laggards.

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Highlights

    15:38 (IST)04 Jul 2018
    Closing bell: Sensex up 267 pts, Nifty scales 70 points

    India's share market closed higher on Wednesday with Sensex and Nifty finishing in positive territory following the sharp uptick in blue-chip shares of HDFC Bank, HDFC, Reliance Industries, HUL, Bajaj Auto, Kotak Mahindra Bank and IndusInd Bank. The S&P BSE Sensex settled 266.8 points or 0.75% higher at 35,645.4 while NSE Nifty ended up 70 points or 0.65% at 10,769.9.

    15:23 (IST)04 Jul 2018
    Volatility shrinks after buying escalates!

    The volatility in the domestic markets declined around the closing bell. India Vix, the volatility indicator on NSE traded 3.03% lower at 12.6050. 

    15:05 (IST)04 Jul 2018
    Top gainers on S&P BSE Sensex today: Bajaj Auto, Maruti Suzuki and HDFC

    15:03 (IST)04 Jul 2018
    RIL gains 2% ahead of 41st AGM

    Shares of RIL surged nearly 2% ahead of Reliance Industries Ltd's 41st AGM (Annual General Meeting) due later tomorrow, 5 July 2018. The stock of RIL gained 1.96% to a day's high of Rs 990.6 on BSE today. 

    14:44 (IST)04 Jul 2018
    Market-wide buying: 8 out of 11 sectoral indices in green

    14:42 (IST)04 Jul 2018
    Heads up! It's auto, NBFC, HUL, banks and RIL

    14:38 (IST)04 Jul 2018
    Value buying: Sensex up 250 points

    In the late afternoon deals on Wednesday, BSE Sensex index advanced more than 260 points with shares of HDFC Bank, HDFC, Reliance Industries, Maruti Suzuki, HUL leading the rally. 

    14:12 (IST)04 Jul 2018
    Forex check: Rupee drops by 11 paise vs US dollar

    The Indian rupee tumbled again in the afternoon session reversing the morning gains. The rupee lost as much as 11 paise at 68.68 per unit US dollar on the interbank foreign exchange market today. 

    14:07 (IST)04 Jul 2018
    Sensex jumps 200 points

    Continuing the recovery, the benchmark Sensex index surged as much as 200 points to hit a day's high of 35,578.06 in the afternoon deals on Wednesday. Bajaj Auto (up 3.39%), Maruti Suzuki (up 1.7%), Coal India (up 1.7%), HDFC (up 1.64%), Sun Pharma (up 1.39%), RIL (up 1.17%), HDFC Bank (up 1.14%), M&M (up 1.03%), HUL (up 0.96%) and Kotak Mahindra Bank (up 0.99%) were the lead gainers. 

    13:56 (IST)04 Jul 2018
    Modi delivers on agri promise!

    Cabinet OKs MSP hike for Kharif crops

    The Union Cabinet on Wednesday approved the proposal to hike the Minimum Support Price (MSP) for Kharif crops, which was made in the Budget 2018 by Finance Minister Arun Jaitley. The MSP for paddy has been raised by around Rs 250 per quintal.

    13:01 (IST)04 Jul 2018
    Heavyweights trade neck to neck! Sensex recoups

    Indian stock markets recouped in the afternoon deals with Sensex zooming nearly 164 points to a day's top of 35,473.38 from the day's low. Shares of blue-chip companies such as HDFC, HDFC Bank, Reliance Industries, Maruti Suzuki were the top contributors in the index uptick while, on the other hand, shares of ITC, TCS and Infosys remain the top laggards. 

    12:35 (IST)04 Jul 2018
    Breaking! Cabinet approves MSP hike proposal

    CCEA hikes MSP of paddy (common Variety) by Rs 200 per quintal, PTI reported. Shares of food processing companies such as Kohinoor Foods, LT Foods rally up to 10%

    12:23 (IST)04 Jul 2018
    Kwality shares down 5%

    Kwality shares drop 5% to hit lower circuit as board postpones share buyback decision

    Shares of Kwality Limited fell by almost 5% to its lower circuit limit on Wednesday after its board deferred its decision on share buyback, bonus issue of securities and payment of interim dividend. Kwality’s stock fell for the ninth consecutive session in the last 10 trading sessions since June 20.

    12:06 (IST)04 Jul 2018
    10 heavyweights fall over 1%

    Shares of heavyweight companies such as Grasim, HPCL, BPCL, Vedanta, Cipla, Adani Ports, Tech Mahindra, Hindalco, ONGC and ITC were the biggest losers among the deck of 50 shares of NSE Nifty index. All of these equity shares inched down over 1% each in the mid-morning deals on Wednesday. 

    12:03 (IST)04 Jul 2018
    6 large-cap stocks hit 52-week high

    As many as 6 large-cap stocks listed on NSE hit their respective 52-week highs. The stocks include, Britannia Industries, Graphite India, HEG, GlaxoSmithKline Pharma, Godrej Consumer Products and RBL Bank.  

    11:30 (IST)04 Jul 2018
    Dlip Buildcon drops 3%

    Dilip Buildcon shares plunge 3%, management denies reports of auditor resignations

    Shares of infrastructure industry player Dilip Buildcon continued to fall for the second consecutive day after the company had received sanction letter from NBFC and Nationalized Bank yesterday. Meanwhile, the management attributed the fall in the shares to the market phenomenon, and said that all the shares of the rood industry players, irrespective of the balance sheet quality has seen a decline in recent times. 

    11:18 (IST)04 Jul 2018
    Shriram Transport Finance Company plunges 19%

    Shares of the Mumbai-headquartered vehicle finance firm Shriram Transport Finance Company extended losses in the late morning trades and fell as much as 18.86% to Rs 1,052.4 on NSE. Amid the plunge, heavy trading volumes were observed in the shares of Shriram Transport Finance Company, up until now, about 81.4 lakh equity shares got traded (highest in at least last 3-months). 

    11:10 (IST)04 Jul 2018
    All sectoral indices in red except Nifty Pharma

    All the sectoral indices of NSE were trading in negative territory barring Nifty Pharma index. An uptick of more than 2% in the blue-chip shares of Dr Reddy's and Lupin steered the index into the green. 

    10:57 (IST)04 Jul 2018
    Market Check: Over 100 shares on NSE hit fresh 52-week low

    Shares of more than 100 companies hit their respective 52-week lows on NSE today. Shares of HPCL, ICICI Securities, Indian Overseas Bank, Tata Motors, Reliance Capital, NBCC, NLC India, Monnet Ispat and Energy, Max Financial Services, Mandhana Industries, Laco Infratech, La Opala RG, Kwality, Kewal Kiran Clothing, Golden Tobacco are among the 110 shares that hit 52-week lows today. 

    10:49 (IST)04 Jul 2018
    Top trades: RCom

    Shares of Anil Ambani's telecom firm Reliance Communications (RCom) emerged as the most traded stock among all the listed companies on National Stock Exchange (NSE) on Wednesday. The stock of RCom was trading up 2.25% at Rs 13.65 on NSE. Up until now, about 2.77 crore equity shares exchanged hands on NSE. 

    10:42 (IST)04 Jul 2018
    Forex update: Rupee trades firm vs USD

    The rupee traded five paise higher at 68.52 against the US dollar during early morning trade on Wednesday following a weakness in the US dollar against other currencies overseas. On Wednesday, the rupee opened 10 paise higher at 68.47 against the US dollar at the Interbank Foreign Exchange from its previous close.

    10:38 (IST)04 Jul 2018
    Forex update: Rupee trading firm

    The rupee traded five paise higher at 68.52 against the US dollar during early morning trade on Wednesday following a weakness in the US dollar against other currencies overseas. On Wednesday, the rupee opened 10 paise higher at 68.47 against the US dollar at the Interbank Foreign Exchange from its previous close.

    10:29 (IST)04 Jul 2018
    UBS on India's share market

    Stock markets cautious about rising fiscal slippages, says UBS

    The concerns on GST collections, rising states’ fiscal deficit and the risk of populist spending ahead of 2019 elections is keeping markets on tenterhooks regarding possible fiscal slippages,” UBS said in a note. 

    10:12 (IST)04 Jul 2018
    Shriram Group stocks tumble up to 18%

    Shares of Shriram Group, Shriram Transport Finance Company, Shriram City Union Finance, fell up to 18% in the morning deals today. The stock of Shriram Transport Finance Company shed 17.89% to a day's low of Rs 1,066.1 while the stock of Shriram City Union Finance lost 6.31% to a day's low of Rs 1,925 on BSE on Wednesday. 

    10:05 (IST)04 Jul 2018
    United Breweries falls nearly 2%

    Shares of United Breweries dropped nearly 2% after global investment bank Goldman Sachs initiated coverage on the stock with "neutral" rating. Goldman Sachs has given a price target of Rs 1,171 per equity share. The stock of United Breweries shuttled between a day's high of Rs 1,171.4 and day's bottom of Rs 1,147 on NSE. Growth opportunity for brewers in India appears quite promising but some barriers still persist such as high prices compared with other spirits/non-alcoholic beverages, significant cultural/social barriers and government intervention, Goldman Sachs was seen as saying in a Reuters report.

    09:42 (IST)04 Jul 2018
    BSE delisting 222 companies today

    BSE delists 222 companies from today; check full list and consequences of delisting

    India’s biggest stock exchange in terms of total listed companies BSE (Bombay Stock Exchange) has delisted as many as 222 companies from its platform with effect from today, 4 July 2018. Earlier on 2 July 2018, the leading stock exchange BSE informed about the delisting of 222 companies in 2 separate notices.

    09:32 (IST)04 Jul 2018
    Fortis Healthcare slips 3% in early trade

    Shares of Fortis Healthcare slipped 3% in the morning trade. Notably, Malaysia’s IHH Healthcare Berhad on Tuesday made a fresh binding offer to the company’s board. The offer is valid till July 16, 2018. On Tuesday, The shares of Fortis Healthcare jumped nearly 10%. The battle is now between two parites- with Malaysia’s IHH Healthcare and TPG-backed Manipal Health Enterprises Pvt placing binding offers.

    09:22 (IST)04 Jul 2018
    Sensex, Nifty open flat, Heromotocorp, Bharti Airtel, Infosys drag

    The domestic stock markets opened flat on Wednesday, tracking weak global cues.  Earlier, the Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded nearly 0.1 percent lower at 10,725 in the morning. The Sensex opened at 35,385, while the broader Nifty50 opened above the psychological 10,700 level. Shares of Powergrid, Sun Pharma, HDFC rallied by more than 0.5% on opening, while the shares of VEDL, ONGC. and Bharti Airtel were among the draggers.