MARKET WRAP: Infy ends 2% higher ahead of Q1 results; Sensex ends flat

The benchmark indices pared their day's gains to end flat on Friday.

The S&P BSE Sensex ended at 36,542, down 7 points. The index had hit a fresh all-time high of 36,740.07 in intra-day deals earlier today tracking global markets ahead of information technology (IT) heavyweight Infosys June quarter earnings later in the day. The broader Nifty50 index settled at 11,019, down 4 points.

The IT major, Infosys settled 2.2% higher at Rs 1,323 on the National Stock Exchange.

Among sectoral indices, the Nifty PSU Bank index fell over 2% weighed by a decline in Canara Bank and Indian Bank.

GLOBAL MARKETS
 

Asian shares extended their recovery on Friday, as investors shifted their focus to bullish expectations for Wall Street earnings and as a weaker yen supported Japanese stocks, though Sino-US trade tensions have tempered exuberance.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6 per cent, adding to a 0.6 per cent rise on Thursday, after US stocks ended the day higher. Japan's Nikkei stock index was 1.9 per cent higher. The index hit a two-and-a-half-week high Friday supported by weakness in the yen, and as index-heavy stock Fast Retailing jumped after posting strong third-quarter results.

(with Reuters inputs)

3:53 PM

Infosys ended over 2% higher on the NSE

3:51 PM

Nifty PSU Bank index settles 2.05% lower. Top losers:

COMPANY	LATEST	PREV CLOSE	LOSS( )	LOSS(%)
CANARA BANK	231.75	241.95	-10.20	-4.22
BANK OF INDIA	81.70	84.85	-3.15	-3.71
INDIAN BANK	334.75	347.60	-12.85	-3.70
ALLAHABAD BANK	40.60	42.00	-1.40	-3.33
ORIENTAL BANK	70.95	73.15	-2.20	-3.01

3:44 PM

Nifty sectoral losers of the day

3:42 PM

BSE Sensex: Infosys settles 2.12% higher. RIL rises 1.37%.

3:33 PM

Market at close

 

The S&P BSE Sensex ended at 36,542, down 7 points while the broader Nifty50 index settled at 11,019, down 4 points.

3:16 PM

BSE Smallcap index falls over 1%; PVR, Inox Leisure tank up to 14%

Shares of smallcap companies were under pressure with the S&P BSE Smallcap index falling more than 1% after a sharp decline in stock prices of PVR, KNR Constructions, Inox Leisure and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC). READ MORE

3:00 PM

Gold prices subdued as dollar extends gains

Gold prices were muted on Friday, stuck in a tight trading range, as the dollar extended rally from the previous session when strong U.S. inflation data and trade war concerns boosted demand for the greenback.

 

Spot gold was down 0.1 percent at $1,245.54 an ounce, as of 0652 GMT. For the week, the metal was down 0.7 percent. READ MORE

2:45 PM

NEWS ALERT People would be allowed to carry food items along with them in cinema halls and in multiplexes in Maharashtra: Maha Govt

Stock Impact

 

2:30 PM

Buzzing Stock

Idea Cellular share price fell 2.7 per cent intraday on Friday after global research firm Credit Suisse maintained its Underperform rating on the stock with a target price at Rs 45, implying a 17 per cent downside.

 

After the merger between the company and Vodafone, the new entity may prioritise cost savings over market share retention and the cost base should be close to current Bharti mobile cost base, the research house said.

2:14 PM

Bajaj Finance hits new high; stock rises 32% in two months since Q4 results

Shares of Bajaj Finance hit a new high of Rs 2,460 per share on the BSE, rising by 2% today and extending their 2.5% gain on Thursday, on expectations of healthy financial performance for the quarter ended June 2018 (Q1FY19).
 

In past two months after the March quarter (Q4FY18) results, Bajaj Finance have outperformed the market by surging 32% as compared to 2.8% rise in the S&P BSE Sensex. READ MORE

2:00 PM

Market Check

 

S&P BSE Sensex	36,584.63		0.10%
Nifty 50	11,031.25		0.07%
S&P BSE 200	4,713.95		-0.16%
Nifty 500	9,362.80		-0.19%
S&P BSE Mid-Cap	15,449.40		-0.66%
S&P BSE Small-Cap	16,229.89		-1.16%

1:45 PM

Convert physical shares into demat at the earliest: All you need to know

 

Financial planners say there are many clients who keep shares in physical form. These investors believe that having them in bank lockers insulates them from any fraud. They are wrong.

 

There is a big chance that such shares may be duplicated, and fraudsters might claim dividends and other benefits that would have been theirs. Against this backdrop, the Securities and Exchange Board of India's (Sebi’s) recent directive to shareholders that their share certificates should be converted into dematerialised (demat) form by December 5, 2018, comes at the right time. READ MORE

1:29 PM

Cyient slips after weak Q1 results

 

Cyient fell 3.42% to Rs 716.65 on BSE after consolidated net profit fell 32.67%. Net sales rose 1.71% to Rs 10.80 billion in Q1 June 2018 over Q4 March 2018. 

The result was announced after market hours yesterday, 12 July 2018. READ MORE

1:17 PM

Top gainers in BSE500:

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)
SONATA SOFTWARE	333.50	316.25	17.25	5.45
MPHASIS	1211.00	1169.60	41.40	3.54
FORTIS HEALTH.	146.85	142.15	4.70	3.31
SHRIRAM TRANS.	1253.65	1214.00	39.65	3.27
MAHINDRA LIFE.	612.35	594.05	18.30	3.08

1:01 PM

Infosys gains ahead of Q1 results

Infosys rose 2.8% to Rs 1330.90 on BSE ahead of the company's Q1 June 2018 results later today, 13 July 2018. On the BSE, 2.08 lakh shares were traded in the counter so far compared with average daily volumes of 2.18 lakh shares in the past two weeks. READ MORE