F&O expiry: Indices gain for 5th day, Nifty above 11,550; DLF advances 10%

All that happened in the markets today

The benchmark indices ended in the green on Thursday, the last day of the futures and options (F&O) contracts for August series; however, the gains were capped amid selling in blue-chip counters such as Reliance Industries (RIL), HDFC Bank, and Infosys. It was the fifth straight session of gains for the headline indices. 

The S&P BSE Sensex ended 39 points or 0.10 per cent higher at 39,113.47 levels, with IndusInd Bank (up over 6 per cent) being the top gainer and ONGC (down over 1 per cent) the biggest loser. NSE's Nifty ended at 11,559, up nearly 10 points, or 0.084 per cent. India VIX fell over 2 per cent to 18.90 levels. 

In the broader market, the S&P BSE MidCap index ended flat at 15,155.04 while the S&P BSE SmallCap index ended at 15,025.51, up 0.35 per cent. 

Buzzing stocks

Realty stocks rallied in trade after Maharashtra government on Wednesday announced a cut in stamp duty and other levies for buying and selling of properties in urban and rural areas. Nifty Realty index jumped over 6 per cent to settle at 232.80 levels. READ MORE

Shares of Hindustan Aeronautics (HAL), the state-owned aerospace and defence company, tanked over 14 per cent to Rs 1,010.95 on the BSE, a day after the company informed that the government plans to sell as much as 15 per cent stake in the company through a public offering of shares.

IndusInd Bank jumped over 9 per cent during the session after global agency UBS upgraded the stock to 'Buy' from 'Sell'. The stock ended at Rs 605.55, up 6.6 per cent. 

Global markets

Asian shares touched two-year peaks on Thursday in the wake of Wall Street’s record run as cheap cash drove up big-cap tech darlings, although Sino-US tensions caused caution to creep in as the session progressed.

MSCI’s broadest index of Asia-Pacific shares outside Japan had edged up 0.1 per cent after earlier reaching its highest since August 2018.

Japan’s Nikkei eased 0.4 per cent from levels not seen since mid-February, while South Korea fell 0.8 per cent as a jump in coronavirus cases ended four days of rises.

In Europe, cautious mood prevailed as investors looked ahead to the US Federal Reserve Chairman Jerome Powell’s outlook on monetary policy. 

Oil prices held steady as a massive hurricane in the Gulf of Mexico raced towards the heart of the US oil industry, which has forced oil rigs and refineries to shut down production.

(With inputs from Reuters)

4:14 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

"The Indian benchmark indices showcased a strong opening, and although they gave up some of their gains, they still managed to close with a positive bias. Global cues were mostly negative, ahead of expected policy statements by the US Fed Reserve chairman and also due to the ongoing US-China trade tensions. On the domestic front, autos and financials contributed most to the gains after favourable earnings commentary and some earning upgrades prompted investor action. Global markets will react to the Fed Reserve statements, later in the day, and are expected to affect market movements tomorrow."

3:42 PM

SECTOR WATCH:: Nifty Realty index jumps nearly 6.5%

3:41 PM

MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended 39.5 points or 0.10 per cent higher at 39,113 levels while NSE's Nifty ended at 11,559, up 10 points or 0.08 per cent.

3:27 PM

BUZZING STOCK:: M&M up over 4%

3:15 PM

BROKERAGE VIEW:: Edelweiss Securities on Metals sector

Major domestic players continue to have an edge. If the price hike being contemplated in September-20 comes through, the stocks may rally further. However, it is contingent on international prices and demand; which appear to be reasonably favorable as of date. We reiterate our positive stance on the sector and maintain Tata Steel as the preferred pick in the space (‘BUY/SO’; TP: Rs 500).

3:08 PM

NEWS ALERT | FM Sitharaman's media briefing delayed

3:07 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:57 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
AFFLE INDIA	2796.20	3083.00	-5.00
APL APOLLO TUBES	2469.50	2517.80	-0.54
ATUL	6148.95	6150.10	4.23
CAPRI GLOBAL	223.65	235.00	-0.02
DIXON TECHNOLOG.	8576.90	8649.00	2.79

2:57 PM

BUZZING STOCK:: Future Retail jumps around 11%

2:50 PM

The FAANGs are back and sharper: Global tech giants' 10-year bet on India

The agenda of each of the 13 investors in Jio Platforms is amply stated. Facebook will get a piece of Jio Mart’s e-commerce on WhatsApp. Google is promised a foothold in the feature phone market. Intel and Qualcomm have a big buyer for their chips. And the financial investors are in for handsome bonuses when Jio IPOs hit the market in some two-three years. READ MORE

2:40 PM

MARKET UPDATE:: Nifty Bank index trades 200 points higher ahead of F&O expiry

2:31 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
DLF	176.25	10.12
DISH TV INDIA	12.02	9.97
GODFREY PHILLIPS	1042.20	9.37
SUNTECK REALTY	277.85	7.99
GODREJ PROPERT.	916.85	7.87

2:26 PM

IndusInd Bank soars 9% after UBS upgrades the stock to 'Buy' from 'Sell'

Shares of private lender IndusInd Bank jumped 9.1 per cent to Rs 620 apiece on the BSE on Thursday after global agency UBS upgraded the stock to 'Buy' from 'Sell'. From its recent low of Rs 338.2 (on closing basis), hit on May 22, 2020, the stock price of the lender has surged 68 per cent on the BSE till Wednesday, as against 27 per cent rise in the benchmark S&P BSE Sensex during the period, BSE data show. READ MORE

2:14 PM

Godfrey Phillips India in focus; shares advance over 14%

"We believe that GPIL’s efforts through its revival strategy, focusing on high growth RSFT/ DSFT segment; and by strengthening its partnership with Phillip Morris (Marlboro), are acting as the key growth engine for its distribution efforts in ITC dominated market i.e. South," wrote Shirish Pardeshi, an analyst with Centrum Broking in a co-authored note with Shubham Aggarwal. READ MORE