MARKET WRAP: Record closing high for Sensex at 37,692; bank stocks rally
The Nifty PSU Bank index settled over 2.5% higher led by rise in Indian Bank and SBI
 "Markets, Up, Down, BSE, NSE, Stocks")
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The benchmark indices settled at record closing highs on Monday, after rallying for the to a second consecutive session led by rise in financial stocks, especially the public sector banks (PSBs).
The S&P BSE Sensex settled at a record high of 37,692, up 136 points, while the broader Nifty 50 index settled at a new high of 11,387, up 26 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,805.25 while the Nifty50 index touched its record high level of 11,427.65.
Among individual stocks, Axis Bank, State Bank of India (SBI) and ICICI Bank were among the top gainers in the BSE Sensex, settling higher in a range of 3 -4 per cent. The Nifty PSU Bank index settled over 2.5% higher led by rise in Indian Bank and SBI.
GLOBAL MARKETS
Asian shares pared gains on Monday as Chinese stocks swung into negative territory, dragged lower by the escalating Sino-US trade war, though Beijing’s efforts to stop sharp declines in the yuan helped support the currency.
The S&P BSE Sensex settled at a record high of 37,692, up 136 points, while the broader Nifty 50 index settled at a new high of 11,387, up 26 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,805.25 while the Nifty50 index touched its record high level of 11,427.65.
Among individual stocks, Axis Bank, State Bank of India (SBI) and ICICI Bank were among the top gainers in the BSE Sensex, settling higher in a range of 3 -4 per cent. The Nifty PSU Bank index settled over 2.5% higher led by rise in Indian Bank and SBI.
GLOBAL MARKETS
Asian shares pared gains on Monday as Chinese stocks swung into negative territory, dragged lower by the escalating Sino-US trade war, though Beijing’s efforts to stop sharp declines in the yuan helped support the currency.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.3 per cent, after having risen about 1 per cent earlier in the day. Chinese shares turned negative with the blue-chip share index CSI 300 and Shanghai's SSE Composite down more than 1 per cent each. Japan's Nikkei and South Korea's Kospi index slipped 0.1 per cent. Hong Kong's Hang Seng index rose 0.5 per cent.
MONSOONThe monsoon is also likely to play a key role in determining the direction the markets take during the week. The IMD has already forecast that rains will be normal in August and September, boosting growth prospects of the rural economy.
(with Reuters inputs)
3:49 PM
Nifty sectoral gainers and losers of the day
3:48 PM
BSE Sensex: Axis Bank, ICICI Bank, SBI among top gainers of the day
3:46 PM![]()
Market at close
The S&P BSE Sensex settled at a record high of 37,692, up 136 points, while the broader Nifty 50 index settled at a new high of 11,387, up 26 points.
The S&P BSE Sensex settled at a record high of 37,692, up 136 points, while the broader Nifty 50 index settled at a new high of 11,387, up 26 points.
3:18 PM
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RCom gets SC nod to sell assets to Jio, agrees to pay Rs 5.5 bn to Ericsson
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2:47 PM
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Gold prices inched higher on Monday, extending their recovery from a 17-month low, amid lingering worries over the US-China trade conflict, while a stronger US dollar capped the safe haven's gains.
Spot gold was up 0.2 per cent at $1,215.71 an ounce, building on its 0.5 per cent gain on Friday. US gold futures were little changed at $1,223.7 an ounce. READ MORE
2:31 PM
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Vedanta's quarterly core earnings rise; India copper output drops
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2:13 PM
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2:02 PM![]()
Market Check
> More on BSE Indices
| INDEX | LATEST | PREVIOUS | CHANGE | CHANGE(%) |
|---|---|---|---|---|
| BSE SENSEX | 37729.37 | 37556.16 | 173.21 | 0.46 |
| BSE 500 | 15425.22 | 15361.14 | 64.08 | 0.42 |
| BSE MID-CAP | 16283.63 | 16206.89 | 76.74 | 0.47 |
| BSE SMALL-CAP | 16929.66 | 16833.52 | 96.14 | 0.57 |
| S&P BSE LARGECAP | 4424.31 | 4407.00 | 17.31 | 0.39 |
1:45 PM
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ICRA gains 6% as board mulls share buyback proposal
Shares of ICRA have gained 6% to Rs 3,657 per share on the BSE in intra-day trade after the company- an Indian subsidiary of ratings agency Moody's, said it will consider share buyback proposal on Thursday, August 9, 2018. READ MORE
1:34 PM![]()
Top gainers in BSE 500:
» More on Top Gainers
| COMPANY |
PRICE( ) |
CHG() | CHG(%) |
|---|---|---|---|
| TRIDENT | 70.85 | 6.75 | 10.53 |
| ENDURANCE TECH. | 1574.00 | 120.50 | 8.29 |
| I D F C | 50.90 | 3.85 | 8.18 |
| TIME TECHNOPLAST | 151.45 | 11.25 | 8.02 |
| DHANUKA AGRITECH | 600.00 | 41.65 | 7.46 |
1:15 PM
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Pledged holdings for the BSE500 stocks decline in June 2018 quarter
Pledged holdings for the BSE500 stocks declined in the June 2018 quarter as against the preceding quarter. The percentage of pledged promoter holdings reduced to 6.8 per cent, from 7.4 per cent in the March quarter, according to Kotak Institutional Equities.
The value of pledged holdings stood at Rs1.82 trillion, 1.37 per cent of market capitalisation of the BSE500 stocks. The brokerage attributed the fall in pledged holdings to changes in the constituents of the BSE-500 index. READ MORE
12:59 PM
The Reserve Bank of India's (RBI’s) Monetary Policy Committee has hiked the policy rate for the second time in a row. It has also hinted that it will not be averse to hiking again, if inflation doesn't ease off. Pressure on the rupee might now lessen due to a couple of factors. READ MORE![]()
Defensives are on the radar
The Reserve Bank of India's (RBI’s) Monetary Policy Committee has hiked the policy rate for the second time in a row. It has also hinted that it will not be averse to hiking again, if inflation doesn't ease off. Pressure on the rupee might now lessen due to a couple of factors. READ MORE
12:44 PM
Indian benchmarks have rallied to record highs and have been among the top performers globally thus far in the calendar year 2018 (CY18). MARK MOBIUS, co-founder, Mobius Capital Partners tells Puneet Wadhwa that going ahead, investors should concentrate more on ‘value’ rather than momentum; and on the good small-and medium-sized companies rather than the large-caps. READ MORE
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Indian markets can rise another 10%; focus on mid, small-caps: Mark Mobius
Indian benchmarks have rallied to record highs and have been among the top performers globally thus far in the calendar year 2018 (CY18). MARK MOBIUS, co-founder, Mobius Capital Partners tells Puneet Wadhwa that going ahead, investors should concentrate more on ‘value’ rather than momentum; and on the good small-and medium-sized companies rather than the large-caps. READ MORE
Mark Mobius
12:33 PM
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Here are the reasons why FMCG valuations will remain high in coming days
A strong performance is always rewarded whether it’s a field of sport, movie or even the equity market. And, it is exactly what most fast moving consumer goods (FMCG) companies are likely to experience. READ MORE
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First Published: Aug 06 2018 | 8:15 AM IST
