BSE Sensex Today: Yes Bank was the top gainer on both benchmark indices
Domestic stock markets continued their winning run for the fifth consecutive session on Thursday, with the S&P BSE Sensex index clocking an all-time high. The S&P BSE Sensex index rose as much as 340.35 points to touch 40,392.22 - surpassing its earlier record high of 40,312.07 registered in June this year. The broader NSE Nifty benchmark climbed to as high as 11,945.00, up 100.9 points from its previous close, but was 158.05 points away from its all-time high of 12,103.05 recorded on June 3. Gains across sectors - led by banking and IT shares - pushed the markets higher however losses in metal stocks limited the upside in afternoon deals. Yes Bank shares surged and were the top gainer on both benchmark indices, after the private sector lender said it had received a binding offer of $1.2 billion from a global investor. The stock markets gave up most of the day's gains by the end of the session. (Track Share Markets Here)
Here are highlights of the movement in domestic stock markets (BSE Sensex and NSE Nifty) today:
Sensex Ends 77 Points Higher, Nifty Settles At 11,881
The Sensex ended 77.18 points - or 0.19 per cent - higher at 40,129.05, and the Nifty settled at 11,881.20, up 37.10 points - or 0.31 per cent - from the previous close.
Top percentage gainers on the 50-scrip index were Yes Bank, Zee Entertainment, SBI, Grasim and Infosys, ending between 4 per cent and 23.77 per cent higher.
Market Breadth Favours Gains
However, market breadth favoured gains, with 1,490 stocks moving higher on the Bombay Stock Exchange (BSE), 1,016 trading in the negative territory and 134 unchanged. On the National Stock Exchange (NSE), 1,108 shares advanced, 661 declined while 373 were flat.
Sensex, Nifty Give Up Most Of Day's Gains
At 3:02 pm, the Sensex traded 36.28 points - or 0.09 per cent - higher at 40,088.15 while the Nifty was up 26.30 points (0.22 per cent) at 11,870.40. Thirty stocks on the Nifty 50 index traded in the positive zone.
Top Nifty Gainers
- Yes Bank: +24.47
- Zee Entertainment: +10.48
- SBI: +7.14
- Grasim: +4.27
- Infosys: +4.00
Top Nifty Laggards
- Mahindra & Mahindra: -1.72
- ICICI Bank: -1.76
- Tech Mahindra: -2.01
- Tata Steel: -2.01
- JSW Steel: -2.37
Metal Stock Fall Amid Pessimism On US-China Trade Deal
The markets gave up most of the day's gains as metal stocks fell. Chinese officials have doubts about whether it is possible to reach a comprehensive long-term trade deal with Washington and US President Donald Trump, news agency Bloomberg reported citing unnamed sources.
The Nifty Metal index declined as much as 0.89 per cent in late afternoon deals.
Yes Bank Surges 10% After Lender Receives $ 1.2-Billion Investment Offer
Yes Bank said it had received a binding offer from a global investor for an investment of $ 1.2-billion in it through fresh equity shares subject to regulatory approvals. Yes Bank shares jumped as much as 9.95 per cent to touch Rs 62.45 apiece on the BSE after the announcement.
At 1:12 pm, Yes Bank shares traded 9.95 per cent higher at Rs 62.45 apiece on the bourse, outperforming the benchmark Sensex index which was up 0.61 per cent after hitting a recording high.
PSU Bank, Media Indexes Best On NSE
Nifty PSU Bank and Nifty Media indexes were among the top performers on the National Stock Exchange. Meanwhile, all the 11 sector gauges compiled by NSE were trading higher.
Top gainers in Nifty PSU Bank index:
- Central Bank of India +11.27%
- Syndicate Bank +7.26%
- Allahabad Bank +6.84%
- State Bank of India +4.88%
- Oriental Bank of Commerce +2.94%
Top gainers in Nifty Media index:
- Dish TV +18.32%
- Zee Entertainment +9.02%
- Zee Media +4.04%
- Inox Leisure +4.03%
- Balaji Telefilms +1.96%
SBI Shares Rise Nearly 5%
SBI shares rose as much as 4.83 per cent to Rs 303.95 apiece on the BSE. At 12:31 pm, the SBI stock was up 4.72 per cent at Rs 303.65 apiece on the bourse, outperforming the benchmark Sensex index which was up 0.48 per cent.
SBI Bank reported a very healthy set of numbers in the second quarter of current financial year aided by treasury gains and proceeds from sale of a 4.5 per cent stake in SBI Life, said Jaikishan Parmar, senior equity research analyst-BFSI, Angel Broking. Other key positives are improvement in asset quality, increase in net interest margin (NIM) and the continuing upward trend of the provision coverage ratio (PCR), he added.
Mid- And Small-Cap Shares Witness Buying Interest
Mid- and small-cap shares were also witnessing buying interest in today's session. The Nifty Midcap 100 index advanced over 1 per cent while the Nifty Smallcap 100 index rose 0.8 per cent.
Top Mid-Cap Gainers:
- Central Bank of India +11.51%
- Quess Corp +10.54%
- HUDCO +9.32%
- Exide Industries +7.30%
- Allahabad Bank +6.84%
Top Small-Cap Gainers
- Dish TV +18.69%
- JK Tyre +9.54%
- Andhra Bank +7.76%
- Caplin Point Laboratories +7.36%
- Syndicate Bank +7.08%
Overall Market Breadth Remains Positive
The overall market breadth was favouring the buyers as 1,407 shares were advancing while 860 were declining on the BSE.
On the National Stock Exchange, 1,161 shares were advancing while a little over 550 shares were declining.
Bank Nifty 29,000 Put Option Contract Slumps 97%
Nifty Bank's 29,000 put option contract was among the most active option contracts on the National Stock Exchange ahead of the expiry of futures and options contracts for the month of October.
Premium on the contract plunged 97 per cent to 25 paise. Over 2.63 lakh shares were added to the open interest which stood at over 11.72 lakh shares.
Dhanlaxmi Bank Shares Jump Over 12% After Q2 Earnings Announcement
Dhanlaxmi Bank shares jumped as much as 12.41 per cent to touch Rs 18.30 apiece on the BSE after the private sector lender announced its earnings for the July-September quarter.
At 12:25 pm, Dhanlaxmi Bank shares traded 7.06 per cent higher at Rs 17.43 apiece on the bourse, outperforming the benchmark index which was up 0.44 per cent amid gains across sectors.
Sensex, Nifty Update: Banking Shares Lead Gains In Markets
The Nifty Bank index - comprising shares of 12 major lenders in the country - rose as much as 1.05 per cent, led by heavyweights State Bank of India (SBI) and Punjab National Bank (PNB) - which moved 4.61 per cent and 4.00 per cent higher respectively.
|Nifty Bank Stock||Change|
|IDFC First Bank||+5.29%|
|Bank of Baroda||+1.26%|
|RBL Bank||-1.54%|Sensex Hits Fresh All-Time High Above 40,300
The Sensex jumped as much as 293.12 points to touch a record high of 40,344.99, surpassing its earlier peak of 40,312.07 clocked on June 4.
The NSE Nifty climbed to as high as 11,927.85, up 83.75 points from its previous close, but was 175.2 points shy of its all-time high of 12,103.05 recorded on June 3.
Sensex Less Than 15 Points Shy Of All-Time High
At the day's strongest level, the S&P BSE Sensex index touched 40,297.52 - up 245.65 points from its previous close. That brought the benchmark index within 15 points of an all-time high of 40,312.07 registered on June 4.
At the intraday high, the broader NSE Nifty index, however, was 188.15 points away from its all-time high of 12,103.05.
Indian Oil Shares Rise 1% Ahead of Q2 Financial Results
Indian Oil shares rose as much as 1.05 per cent to Rs 148.65 apiece on the BSE, ahead of the earnings announcement by the country's largest fuel retailer. AT 10:29 am, IOC shares traded 0.44 per cent higher at Rs 147.75 apiece, underperforming the benchmark Sensex index which was up 0.57 per cent.
Thirty five stocks on the Nifty 50 index moved in the positive territory, led by Zee Entertainment, SBI, Infosys and Grasim - up between 1.23 per cent and 4.49 per cent.
Gains Across Sectors Push Markets Higher
All of the 11 sectoral indices on the National Stock Exchange moved higher in the first hour of trade. The Nifty PSU Bank index was the top gainer in percentage terms, last seen trading up 2.51 per cent.
|Nifty PSU Bank||+2.51%|
|Nifty Financial Service||+0.60%|
|Nifty Fast Moving Consumer Goods||+0.60%|
|Nifty Private Bank||+0.32%|
|Nifty Auto||+0.26%|Sensex Up 199 Points, Nifty At 11,906
At 9:42 am, the Sensex traded 199.45 points - or 0.50 per cent - higher at 40,251.32 while the Nifty was up 62.20 points - or 0.53 per cent - at 11,906.30. Top percentage gainers on the 50-scrip index at the time were Zee Entertainment, SBI, Infosys, Sun Pharma and Wipro, trading between 1.16 per cent and 3.21 per cent higher.
Infosys, HDFC Bank, SBI and HDFC were the top contributors to the gain in Sensex, together accounting for a rise of 156.83 points in the index.
Sensex Opens 160 Points Higher At 40,212, Nifty Starts Day At 11,890
The S&P BSE Sensex index opened 160.12 points higher at 40,211.99 and the Nifty started the session at 11,890.45, up 46.35 points from the previous close.
Top percentage gainers on the 50-scrip index were Infosys, State Bank of India (SBI), Zee Entertainment, Grasim and Sun pharma, trading between 0.90 per cent and 2.04 per cent higher, in the first few minutes of trade.
Sensex Up Over 150 Points, Nifty Near 11,900 In Pre-Open Market
The S&P BSE Sensex index rose as much as 164.26 points - or 0.41 per cent - to touch 40,216.13 in the pre-opening session. At 9:09 am, the Sensex traded 160.12 points -or 0.40 per cent - higher at 40,211.99 while the Nifty was up 46.35 points - or 0.39 per cent - at 11,890.45.
Sensex Has Added More Than 1,000 Points In Past Four Sessions
The Sensex has risen 1,031.48 points - or 2.64 per cent - in past four consecutive sessions, and the broader Nifty added 261.5 points, marking a rise of 2.26 per cent.
Indian Oil Q2 Earnings In Focus
Indian Oil Corporation shares will be in focus during Thursday's session. The country's largest fuel retailer is due to report its earnings for the quarter ended September 30 during the day.
For the first quarter of current financial year, Indian Oil Corporation had reported a 47.36 per cent drop in net profit to Rs. 3,596.11 crore over revenue of Rs 1,50,766.57 crore.
SGX Nifty Futures Up 40 Points At 11,891
At 8:50 am, the SGX Nifty futures were up 40.00 points - or 0.34 per cent - at 11,890.50.
On Wednesday, the S&P BSE Sensex index had ended 220.03 points - or 0.55 per cent - higher at 40,051.87 and the broader NSE Nifty benchmark settled at 11,844.10, up 57.25 points - 0.49 per cent - from its previous close.
Global Central Banks Reluctant To Ease Monetary Policy Aggressively
Optimism that Washington and Beijing will sign a preliminary agreement to call a truce to their 16-month trade war was also a factor behind the Fed's decision to signal that further rate cuts are on hold, highlighting the importance of trade talks to global monetary policy.
The US-China trade war and Britain's divorce from the European Union have increased uncertainty, but central banks are somewhat reluctant to ease policy aggressively because interest rates are already very low in many major economies.
US Central Bank Cuts Key Interest Rates
The US central bank lowered its policy rate to 1.50-1.75 per cent, but dropped a previous reference in its statement to "act as appropriate" to sustain the economic expansion.
Federal Reserve Chairman Jerome Powell signalled additional rate cuts are unlikely because there are several areas of strength in the US economy.
Asian Shares Register Mild Gains After US Interest Rate Cut
Equities in other Asian markets rose on Thursday and US stock futures edged higher after the US central bank cut interest rates as expected to keep economic expansion on track.
MSCI's broadest index of Asia-Pacific shares outside Japan was last seen up 0.2 per cent while Japan's Nikkei stock index rose 0.41 per cent, but Australian shares fell 0.24 per cent.
SGX Nifty Futures Indicate Higher Opening For Domestic Markets
Domestic stock markets are likely to open higher, with the Singapore Exchange (SGX) Nifty futures rising as much as 50.5 points to touch 11,901.00 on the upside in early trade. At 8:32 am, the SGX Nifty futures were up 37.50 points - or 0.32 per cent - at 11,888.00.
The SGX Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty index in India.