Markets end at record highs; Nifty closes above 9,900 for first time ever

All that buzzed in today's trading session

9:25 AM

Karnataka Bank fell 2% even after the lender reported a 10% growth in net profit in April-June quarter compared to the same period last fiscal year.

9:24 AM

Geojit Financial Service says: 10k is near, and Nifty is yet to show much giddiness. It is not necessary that a psychological level should turn the trend, but some deal of volatility needs to be priced in. Favoured view expects the trend to continue aiming 10,300, but a pull back below 9,740 could change all that.

9:20 AM

Wipro, ONGC, Reliance Industries, ICICI Bank, Infosys and Cipla contributed the most on BSE Sensex while ITS, Axis Bank and Dr Reddy's shed the most

9:18 AM

INTERVIEW OF THE DAY: Our Sensex target for March 2018 is 32,200: Citi India's Abhinav Khanna CLICK HERE TO READ MORE

9:16 AM

ICICI SECURITIES ON FMCG COMPANIES: Post GST rollout, most companies have tweaked their MRPs and restructured trade margins, hence we believe trade disruption will continue even in July FY18, but restocking will resume by end of Q2FY18. We believe consumer companies with strong focus on direct distribution will continue to fare better than those dependent on indirect distribution

9:16 AM

At 9:17 am, the S&P BSE Sensex was trading at 32,071, up 51 points while the broader Nigty50 index was ruling at 9,903, up 17 points.

 

In broader markets, the BSE Midcap and BSE smallcap indices were up 0.3% and 0.4% respectively.

Image via Shutterstock

9:15 AM

Benchmark indices opened marginally higher with Nifty50 above 9,900 tracking positive Asian peers after Wall Street ended at record high on Friday. 

Sentiment was also lifted as investors awaitied the start of the Monsoon session of Parliament for more reforms after a successfull roll-out of GST.

9:13 AM

KOTAK SECURITIES ON CYIENT: Positives are more or less priced in and the stock is fairly valued at ~11.9x FY19E EPS. We maintain REDUCE with revised target price of Rs 521 (Rs 526 earlier)

9:10 AM

STOCK RECOMMENDATION: Given structural volume growth visibility (though now deferred beyond FY18), operating leverage benefits and MCX’s entrenched leadership, we assign 36x earnings multiple giving us a fair value of INR1,310 for the stock. Maintain ‘BUY’ -- Edelweiss on MCX

9:09 AM

Chart check: We continue to maintain our medium term target of 9950 and then 10150 if Nifty manages to hold above 9900 level. On the lower side 9850 and 9820 are crucial support levels: Anand Rathi Research 

9:07 AM

17 companies will report their results for the quarter ended June on Monday which include names like ACC, Hindustan Media Ventures, Jubilant FoodWorks, Prakash Industries, Sharda Motors Industries, Linde India Ltd among others.

9:05 AM

Markets trade flat in pre-open trade: Sensex was trading at 32,033, up 12 points while the broader Nifty50 index was ruling at 9,907, up 20 points

9:02 AM

Top technical calls from Prabhudas Lilladher:


BUY ACC for an upside target of Rs 1,850 keeping a stop loss of Rs 1,680.

BUY SBI for an upside target of Rs 310 keeping a stop loss of Rs 280.

Click here for full report

Photo: Shutterstock

8:59 AM

9,600-10,000 levels are strong support and resistance on Nifty: Devang Shah    Click here for more

8:53 AM

Oil prices rose 1% boosted as US crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global supply remained strong

A section of the BP Eastern Trough Area Project (ETAP) oil platform is seen in the North Sea, around 100 miles east of Aberdeen in Scotland, Britain