The Sensex hit a record 40,688.27 but the Nifty was still 81.65 points away from its all-time high
Domestic stock markets resumed their record-setting spree on Thursday, as realty stocks jumped after the government's Rs 25,000-crore boost to the sector. The S&P BSE Sensex index rose as much as 218.49 points to touch a new record high of 40,688.27 in the final minutes of the session, before shutting shop at a record 40,653.74, up 183.96 points - or 0.45 per cent - from the previous close. The broader NSE Nifty benchmark climbed to as high as 12,021.40 but was still 81.65 points away from its all-time high, before ending with a gain of 50.05 points - or 0.42 per cent - at 12,016.10. The markets briefly reversed direction in afternoon deals amid volatility in financial stocks and returned to the positive territory as Sun Pharma soared after positive earnings for the September quarter.
Here are highlights of the movement in domestic stock markets (Sensex and Nifty) on November 7:
Sensex Ends 184 Points Higher, Nifty settles At 12,016
The Sensex ended 183.96 points - or 0.45 per cent - higher at 40,653.74 -- an all-time closing high. The Nifty settled 50.05 points - or 0.42 per cent - higher at 12,016.10.
The Sensex hit a new record high of 40,688.27 in the final minutes of trade.
Sun Pharma Shares Jump 3% After Q2 Profit
Sun Pharma shares jumped as much as 3.15 per cent to Rs 441.00 apiece on the BSE, after the pharmaceuticals major reported a net profit of Rs 1,064.09 crore for the quarter ended September 30.
At 2:56 pm, Sun Pharma shares traded 2.70 per cent higher at Rs 439.10 apiece on the bourse, outperforming the benchmark Sensex index which was up 0.32 per cent.
Sensex, Nifty Update: Market Breadth Favours Gains
The Sensex was up more than 100 points and the Nifty was less than 10 points shy of 12,000 as gains in metal and financial stocks were offset by losses in metal and energy counters.
Market breadth was positive to neutral, with 1,245 stocks trading higher on the National Stock Exchange, 1,095 moving lower and 193 flat. On the BSE, 882 stocks advanced, 837 declined and 425 remained unchanged.
Indiabulls Housing Finance Shares Jump Nearly 17% After Q2 Earnings
Indiabulls Housing Finance shares jumped nearly 17 per cent a day after the company reported its earnings for the quarter ended September 30. The housing finance company reported a net profit of Rs. 709.52 crore for the second quarter of current financial year, down 32.05 per cent compared with the corresponding period a year ago.
At 1:50 pm, Indiabulls Housing Finance shares traded 8.05 per cent higher at Rs 236.90 apiece on the BSE, outperforming the benchmark Sensex index which was up 0.27 per cent.
Jindal Steel, Hindalco, Vedanta Lead Gains In Metal Shares
Jindal Steel rose 9.69 per cent, Hindalco 2.88 per cent, Vedanta 3.20 per cent and Hindustan Zinc as much as 2.79 per cent, leading the gains in the sector.
The Nifty Metal index jumped as much as 1.69 per cent and the S&P BSE Metal picked up 1.64 per cent.
US-China Trade Optimism Pushes Metals Higher
The Chinese government said China and the US must simultaneously cancel some existing tariffs on each other's goods for both sides to reach the first phase of a trade deal. The proportion of tariffs cancelled must be the same, and how much tariffs should be cancelled can be negotiated, said Gao Feng, spokesman at the Chinese commerce ministry.
Yes Bank Falls 4% After Moody's Places Ratings Under Review
Yes Bank shares fell nearly 4 per cent on Thursday, a day after credit ratings agency Moody's Investors Service said it had placed private sector lender's rating under review for a downgrade. During the review period, Moody's said, it will focus on Yes Bank's ability to raise new equity capital.
IndiGo Shares Rise Nearly 2% After Codeshare Agreement With Qatar Airways
IndiGo signed a one-way codeshare agreement with Qatar Airways. In a regulatory filing, InterGlobe Aviation - the parent company of airline IndiGo - said the one-way agreement is in-line with its international expansion plans, and will enable Qatar Airways to place its code on IndiGo flights between Doha and Delhi, Mumbai and Hyderabad.
Shares in IndiGo rose as much as 1.89 per cent to Rs. 1,496.20 apiece on the BSE. At 11:26 am, IndiGo shares traded 0.73 per cent higher at Rs. 1,479.20 apiece on the bourse, outperforming the benchmark Sensex index which was up 0.14 per cent.
Sensex, Nifty Update: Auto, Metal, Pharma Sectors Pull Markets Lower
Losses in the automobile, metal and pharma sectors weighed on the markets. The S&P BSE Metal and Auto indices were down 1.28 per cent and 0.82 per cent at the time.
|Nifty PSU Bank||-0.54%|
|Nifty Private Bank||-0.01%|
|Nifty Financial Service||+0.17%|
|Nifty Fast Moving Consumer Goods||+0.20%|
|Nifty Realty||+1.11%|Sensex Up 23 Points, Nifty Flat As Markets Erase Most Of Day's Gains
The markets gave up most of the day's gains amid selling in automobile and banking stocks. At 10:20 am, the Sensex traded 22.91 points - or 0.06 per cent - higher at 40,492.69 while the Nifty was up 0.45 point at 11,966.50.
Only three out of the 11 sectoral indices on the NSE - the Nifty Realty (up 1.11 per cent), the Nifty FMCG (up 0.20 per cent) and the Nifty Financial Service (up 0.17 per cent) - defended the positive territory.
Realty Stocks Jump After Centre’s Rs 25,000-Crore Boost
The Nifty Realty index - which is made of 10 stocks - jumped as much as 3.1 per cent to a near four-month high, with Indiabulls Housing Finance Ltd surging more than 12 per cent.
Shares in other real estate firms such as Sobha and Prestige Estates Projects rose over 8 per cent and 4 per cent, respectively.
Twenty six stocks on the 50-scrip index moved higher.
Top Nifty Gainers Vs Losers
Top Sensex Gainers Vs Losers
|Tata Steel||-2.51%|Sensex Up 190 Points, Nifty At 12,015; HDFC, Reliance Industries Top Movers
At 9:42 am, the Sensex traded 189.61 points - or 0.47 per cent - higher at 40,659.39 while the Nifty was up 48.85 points - or 0.41 per cent - at 12,014.90. Top percentage gainers on the 50-scrip index at the time were IndusInd Bank, Bharti Infratel, UltraTech Cement, SBI and HDFC, up between 1.39 per cent and 2.93 per cent.
HDFC, Reliance Industries, ITC and IndusInd Bank were the top contributors to the gain in Sensex, together accounting for a 146.6-point rise in the index.
Sensex Rises 207 Points To Record High, Nifty 82 Points Away From Record
The Sensex rose as much as 206.66 points to touch an all-time high of 40,676.44 in the first few minutes of trade. The Nifty climbed up as much as 55.35 points to touch 12,021.40 at the strongest level, but was still 81.65 points away from its all-time high registered in June this year.
Sensex Opens 156 Points Higher, Nifty Starts Day At 12,021
The S&P BSE Sensex index opened 155.86 points higher at 40,625.64, and the broader NSE Nifty benchmark started the session at 12,021.10, up 55.05 points from the previous close.
On Wednesday, the Sensex had ended 221.55 points (0.55 per cent) higher at 40,469.78 and the Nifty settled 48.85 points - or 0.41 per cent - higher at 11,966.05.
Sensex, Nifty Move Higher In Pre-Open Market
The S&P BSE Sensex index rose as much as 226.79 points to touch 40,696.57 on the upside in the pre-opening session. At 9:05 am, the Sensex was up 209.96 points - or- 0.52 per cent - at 40,679.74 while the broader NSE Nifty benchmark was up 72.60 points - or 0.61 per cent - at 12,038.65.
Cabinet Clears Rs. 25,000-Crore Special Window For Real Estate Projects
The government on Wednesday announced a Rs 25,000-crore special window for stalled real estate projects. The government will set up an Alternative Investment Fund (AIF) under the special window comes at a time the country's real estate sector is struggling against low demand and hundreds of delayed projects.
"The special window would provide funds to stalled housing projects enabling them to complete unfinished projects and consequently ensure delivery of homes to a large number of home-buyers," Finance Minister Nirmala Sitharaman said.
Asian Shares Near Multi-Month Peaks
Equities in other Asian markets were near multi-month peaks amid lacklustre trade, with MSCI's broadest index of Asia-Pacific shares outside Japan easing a slight 0.1 per cent, just off a six-month high hit earlier in the week.
Japan's Nikkei dithered either side of flat in quiet trade, having touched a 13-month top on Wednesday.
SGX Nifty Futures Indicate Positive Start For Domestic Markets
Domestic stock markets are likely to start the session on a positive note, a day after the S&P BSE Sensex clocked a record high. At 8:42 am, the Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index in India - traded 6.50 points higher at 12,014.00, after climbing to as high as 12,030.00.