Markets at record highs for 4th straight session; Sensex ends above 32,000

Watch this space for all market updates

10:25 AM

We think RBI will maintain their neutral stance even while potentially cutting the repo rate by 25bps on 2 August. Beyond the 25bps likely rate cut, we think RBI will remain in a wait and watch mode to decipher howtion trajectory evolves from July, when the impact of HRA allowances, GST and higher food prices start getting reflected: Deutsche Bank

9:57 AM

All sectors trade in green on NSE with Nifty FMCG, up 1.1%, Nifity Pvt Banks advancing up 0.9%, Nifty Realty and Nifty Bank up 0.7% each

9:43 AM

Sensex rose as much as 227 points to hit the record high of 32,031 surpassing its previous milestone of 31,885,  hit on July 11 while Nifty gained as much as 65 points to hit 9,881 surpassing the last high of 9,830, hit on July 11.

9:27 AM

Geojit Financial Services says: A turn lower was seen yesterday as signaled by the shooting star candle stick pattern, but the sharp turn higher in the closing hours, hints at invalidation of such view, and putting the 10,200 target in the radar. However, caution is advised, and any pull back below 9,820 should be seen as sign for volatility, but downside prospects very limited.

 

9:26 AM

TCS up 1% ahead of June quarter earnings post market hours today.

9:25 AM

ITC, ICICI Bank, L&T and NTPC gained the most on BSE Sensex while M&M, ONGC, Reliance lost the most on the index

9:23 AM

Chart check: A turn lower was seen yesterday as signaled by the shooting star candle stick pattern, but the sharp turn higher in the closing hours, hints at invalidation of such view, and putting the 10200 target in the radar. However, caution is advised, and any pull back below 9820 should be seen as sign for volatility, but downside prospects very limited, says Anand James of Geojit

9:22 AM

On a seasonally adjusted basis, we estimate that momentum in ‘core core’ inflation moderated in June and our trimmed mean measure also eased to 3.5% y-o-y from 3.8% in May. Discounts by retailers (clothing & footwear, household goods) and a sharp moderation in education price inflation (tuition fees) were responsible, confirming a more broad-based moderation in prices: Sonal Varma of Nomura

9:21 AM

Benchmark indices opened at new record high for the fourth day in a row with Sensex hitting 32,000 and Nifty nearing 9,800

9:21 AM

We continue to believe that there is a bubble in many newly listed stocks and also in some of the mid and small cap stocks. Already some newly listed IPOs, which crashed 35% to 54% (examples Satin Creditcare, Dr.Lal PathLabs, etc). Still many investors are ignoring the valuation comfort completely: G Chokkalingam, founder, Equinomics Research

9:19 AM

Oil prices dipped on Thursday as producer club OPEC said it expected demand for its crude to decline next year as rivals pump more, pointing to a market surplus in 2018 despite efforts to tighten supply. Brent crude futures were at $47.70 per barrel, down 4 cents, or 0.1%, from their last close. West Texas Intermediate (WTI) crude futures were at $45.44 per barrel, down 5 cents, or 0.1%.

9:09 AM

Trading ideas by Sacchitanand Uttekar

Buy INDIAN BANK with a stop loss below Rs 285 for an intermediate upmove towards Rs 360

 

Buy UJJIVAN FINANCIAL SERVICES with a stop loss below Rs 290 and taget of Rs 440

9:03 AM

Nifty Outlook from Sacchitanand Uttekar of Tradebulls Securities

 

"Nifty is now in close proximity towards the upper end of the channel and only a sustained close above 9,840 for couple of days would accelerate the momentum else expect the index to witness a time-wise correction before the next up move begins towards 10,013. On the flipside expect 9,700-9,680 to act as an immediate support zone where longs should be added with an expectation of the secular up move to remain intact."

9:02 AM

Overnight, The Dow Jones Industrial Average rose 123.07 points, or 0.57 percent, to close at 21,532.14, a record high. The Dow also hit an intraday record. The S&P 500 gained 17.72 points, or 0.73 percent, to 2,443.25 and the Nasdaq Composite added 67.87 points, or 1.10 percent, to 6,261.17.

9:00 AM

Technical Calls: Buy HPCL, Arvind and Adani Enterprises, says Vaishali Parekh of Prabhudas Lilladher CLICK HERE FOR MORE