Sensex ends 276 pts higher, Nifty above 9,850; realty and banks lead

Catch all that happened in the market here

1:57 PM

Pfizer gains

Pfizer rose 2.46% to Rs 1,796.55 on BSE after report suggested that India has granted the company a patent for its blockbuster Prevenar 13, a vaccine that helps prevent pneumonia.

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1:42 PM

European markets

European markets opened slightly lower, as traders paused for breath after a global rally spurred by gains for tech shares on Wall Street.

 

The pan-European Stoxx 600 edged 0.14% lower shortly after the opening bell with almost all sectors and major bourses in negative territory.

1:21 PM

Markets check

 

At 1:21 pm, the Sensex was trading at 31,431, up 139 points, while the broader Nifty50 was ruling at 9,798, up 32 points. 

1:04 PM

Multiple factors in favour of gas utility companies

 

After posting a strong quarterly performance, Indraprastha Gas (IGL), Gujarat Gas and Mahanagar Gas are well-placed to clock robust growth in the coming years. While low gas prices are supporting demand, together with rupee appreciation, the two factors are propping up margins. READ FULL ANALYSIS HERE

12:49 PM

Buzzing stocks

Shares of Kishore Biyani – led Future Group companies are on a roll with Future Lifestyle Fashions (up 8% at Rs 389), Future Consumer Products (up 8% at Rs 48) and Future Retail (up 5% at Rs 512) hitting their respective lifetime highs on the BSE. CLICK HERE FOR MORE

12:29 PM

Buzzing stock

DLF has moved higher by 7% to Rs 189 on BSE in intra-day trade, after the company said that its board will meet on Friday, August 25, to consider stake sale in rental arm. READ MORE

12:01 PM

ED mulls selling Vijay Mallya's shares in UB

 

The Enforcement Directorate (ED) has approached a special court under the Prevention of Money Laundering Act (PMLA) to sell the stake of beleaguered businessman Vijay Mallya in United Breweries (UB) and United Spirits (USL). READ FULL REPORT HERE

11:47 AM

Buzzing stock 

Shares of Gati rose 4% in Wednesday’s trade after the company said that its profit jumped more than three-fold to Rs 18.31 crore in June quarter. The company had reported Rs 5.11 crore profit in the corresponding quarter of last year. 

11:20 AM

What markets want to hear from Murthy

 

Can the concall inflict more damage to the already wounded Infosys?

 

Some experts do think so. At a broader level, however, they feel the call is primarily to address investor concerns and Narayana Murthy’s stand that has seen a massive erosion of shareholder wealth over the past few trading sessions.  CLICK HERE FOR REPORT 

11:15 AM

Murthy postpones investor concall 

 

Infosys co-founder N R Narayana Murthy has postponed investors’ concall to August 29, citing health reasons. CLICK HERE FOR REPORT

11:04 AM

Markets check

 

At 11:00 am, the Sensex was trading at 31,439, up 147 points, while the broader Nifty50 was ruling at 9,802, up 37 points. 

10:54 AM

Buzzing stock

Avenue Supermarts, which operates supermarket chain D-Mart stores, hit a new high of Rs 996, up 4% in intra-day trade, extending Tuesday’s 3% gain on the National Stock Exchange (NSE). The stock is trading at its highest level since listing on March 21, 2017. READ MORE HERE

10:30 AM

Earnings analysis

 

Mayuresh Joshi, Fund Manager at Angel Broking writes key takeaways from Q1FY18 earnings. READ MORE 

10:15 AM

Nifty tops global markets in 2017

 

Despite falling more than 2% in August, the outperformance of the Indian market vis-à-vis other major developed and emerging continues. In 2017 so far, the benchmark Nifty has gained 26.5% in dollar terms – the highest by any major benchmark index globally. READ FULL STORY HERE 

10:00 AM

Six of 10 Nifty100 firms see earnings cut after Q1

 

Factoring in the likely disruption due to the introduction of the goods and services tax (GST), the Street had lowered its estimates for the June quarter (Q1) earnings. Yet, to the surprise of investors, the performance of more than six out of 10 CNX Nifty100 companies fell short of even these reduced estimates. READ FULL ANALYSIS HERE