The Sensex and Nifty touched 39,361.06 and 11,684.70 on Friday - levels last seen on September 23
Domestic stock markets extended gains to end at three-month highs on Friday. The S&P BSE Sensex index jumped as much as 309 points to touch 39,361.06 at the day's high and the broader NSE Nifty benchmark climbed 98.35 points to 11,684.70 during the session - levels last seen on September 23. Gains across most sectors - led by banking, automobile, metal and information technology shares - pushed the markets higher. Both benchmark indices turned firmly positive soon after a mixed start and strengthened further as buying interest picked up in the sectors in the second half. Analysts awaited more large cap companies to report their financial results for the second quarter of the current financial year for cues. Oil-to-telecom conglomerate Reliance Industries will announce its earnings in the evening.
Here are the highlights of the movement in domestic stock markets (Sensex and Nifty) today:
Sensex, Nifty Surge Nearly 4% In Six Trading Sessions
The S&P BSE Sensex index gained as much as 3.74 per cent - or 1,417.98 - in six consecutive days of upmove. That marked the longest winning streak for the Sensex since March 22. The broader NSE Nifty benchmark added 427.30 points during this period, clocking a gain of 3.80 per cent.
Markets @ Three-Month High: Sensex Rises 246 Points, Nifty Reclaims 11,650
The S&P BSE Sensex index ended 246.32 points - or 0.63 per cent - higher at 39,298.38 - its highest closing level recorded since July 5.
The broader NSE Nifty benchmark settled at 11,661.75, up 75.40 points - or 0.65 per cent - from its previous close. That marked the strongest closing for the 50-scrip index since July 17.
BHEL Surges On Heavy Volumes
Shares in Delhi-based electrical equipment maker Bharat Heavy Electricals Limited (BHEL) rose as much as 29.29 per cent to Rs 57.60 on the BSE amid heavy trading volumes.
More than 1.30 crore shares changed hands on the stock exchange compared with an average of 21.22 lakh shares traded daily in the past two weeks.
PSU Bank Shares Surge Led By J&K Bank's 8% Gain
Gauge of state-run lenders on the National Stock Exchange - Nifty PSU Bank index surged nearly 2 per cent. All shares barring Oriental Bank of Commerce in the 12-member index were trading higher.
Top gainers in Nifty PSU Bank index:
- J&K Bank +7.77%
- Indian Bank +4.17%
- Allahabad Bank +3.83%
- Syndicate bank +3.09%
- Union Bank of India +2.49%
RIL Becomes India's Most Valuable Company
Billionaire Mukesh Ambani-led Reliance Industries became the country's most valuable company after its market capitalisation or market value topped Rs. 9 lakh crore for the first time.
Tata Consultancy Services (TCS) is India's second most valuable company. The country's largest IT services exporter has reached a maximum market capitalisation of Rs. 8.61 lakh crore so far.
Reliance Industries Shares Jump, Take Market Value To Rs 9 Lakh Crore
Reliance Industries shares jumped as much as 2.28 per cent to trade at Rs 1,428.00 on the BSE at the day's strongest level. That marked the highest price for Reliance Industries shares recorded since September 2017 when they went ex-bonus.
At 11:03 am, Reliance Industries shares traded 1.72 per cent higher at Rs 1,420.20 apiece on the BSE, outperforming the benchmark Sensex index which was up 0.45 per cent at 39,228.92. The conglomerate's market capitalisation (MCap) stood at Rs 9,00,285.65 crore at the time, according to the BSE.
Market Breadth Favours Gains
Market breadth favoured gains with an advance-decline ratio of 3:1. On the Bombay Stock Exchange (BSE), 1,210 stocks traded higher, 463 moved lower while 75 remained unchanged. On the National Stock Exchange (NSE), 1,201 shares advanced, 410 declined while 502 were flat.
Market breadth is determined by comparing the number of stocks moving higher against those moving lower.
Yes Bank, Vedanta, NTPC Top Gainers
Thirty six stocks on the 50-scrip index moved higher.
Top Nifty Gainers Vs Losers
|Larsen & Toubro||+1.33%|
|Mahindra & Mahindra||-0.43%|
Top Sensex Gainers Vs Losers
|Bharti Airtel||-1.17%|Sensex At 39,180, Nifty At 11,623; Financial Stocks Lead Gains
At 9:56 am, the Sensex traded 127.91 points - or 0.33 per cent - higher at 39,179.97 while the Nifty was up 36.45 points - or 0.31 per cent - at 11,622.80.
Top percentage gainers on the 50-scrip index at the time were Yes Bank, Bajaj Finance, NTPC, UltraTech Cement and Larsen & Toubro, trading between 1.25 per cent and 8.44 per cent higher. HDFC Bank, Reliance Industries and L&T were the top contributors to the gains in Sensex.
Sensex Jumps Over 200 Points From Day's Low, Nifty Tops 11,600
The markets reversed direction as buying emerged in banking, auto and metal stocks, with the Sensex rising 234.24 points from the day's lowest point to touch 39,197.84 on the upside.
The Nifty recovered early losses to touch 11,626.35 on the upside, after sliding to as low as 11,553.15 in the first few minutes of trade.
Sensex Falls Over 80 Points, Nifty Near 11,550
The Sensex fell as much as 88.46 points to hit 38,963.60 on the downside, and the Nifty slid to as low as 11,553.15, down 33.2 points from its previous close. Losses in financial and automobile stocks pulled the markets lower, however gains in IT shares provided some support.
Sensex, Nifty Move Lower After Mixed Start
The S&P BSE Sensex index opened 35.77 points higher at 39,087.83 where as the broader NSE Nifty benchmark started the session at 11,580.30, down 6.05 points from its previous close.
The markets soon gave in to losses. At 9:17 am, the Sensex traded 64.12 points - or 0.16 per cent - lower at 38,987.94 while the Nifty was down 21.10 points - or 0.18 per cent - at 11,565.25.
Reliance Jio Reported 46% Rise In Profit In Q1
Analysts will also monitor the earnings of Reliance Jio Infocomm, the telecom arm of Reliance Industries, closely. Reliance Jio said this month that it would charge its customers 6 paise per minute for calls made to other networks till the telecom sector regulator TRAI moves to a zero termination-charge regime.
For the April-June quarter, Reliance Jio's net profit rose 45.58 per cent to Rs. 891 crore. It gross added 33.8 million subscribers in the quarter, which translated into a growth of 44 per cent and 49 per cent in revenue and EBITDA respectively, according to the company.
Reliance Industries Shares In Focus Today
Reliance Industries will report its financial results for the second quarter of the current financial year later in the day.
For the quarter ended June 30, the conglomerate had reported a 6.8 per cent rise in net profit to Rs. 10,104 crore - surpassing Street estimates - over a 21.25 per cent increase in revenue from operations to Rs. 1,61,349 crore.
Asian Share Markets Edge Higher After Brexit Deal
Equities in other Asian markets traded with mild gains in early deals, tracking the global lift in sentiment after the UK and the European Union struck a long-awaited Brexit deal.
MSCI's broadest index of Asia-Pacific shares outside Japan was up about 0.1 per cent in early trade, echoing Wall Street's small gains. Australian shares were off 0.6 per cent, while Japan's Nikkei added 0.5 per cent. However, concern about the Chinese economy is likely to cap gains with data expected to show weaker growth.
Sensex, Nifty Up More Than 3% In Past Five Sessions
At Thursday's closing levels, the Sensex has risen 1,171.66 points - or 3.09 per cent - and the Nifty added 351.8 points - or 3.13 per cent - in five consecutive sessions. On Thursday, both the benchmark indices registered their highest closing levels since September 24.
SGX Nifty Futures Indicate Lower Start For Domestic Markets
Domestic stock markets are likely to start Friday's session on a lower note, with the Singapore Exchange (SGX) Nifty futures trading 39.50 points - or 0.34 per cent - lower at 11,565.50 at 8:30 am. The SGX Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty index in India.