Nifty ends flat after hitting historic 10k mark; Nifty Bank at record high

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10:21 AM

Nomura recommends 'buy' on HDFC Bank

 

We maintain HDFC Bank as a high conviction BUY with revised TP of Rs 2000/share (21x Sep-19 consolidated EPS). With ~19.5% ROEs and +20% PAT growth over FY17-20F, we expect the bank’s premium valuations to sustain as size does not seem to be a constraint. A slowdown in retail growth is key risk to our BUY rating. HDFC Bank trades at 18x Sep-19F consolidated EPS.

 

10:19 AM

HDFC Bank hits new high of Rs 1,756, extending its previous day’s 1.8% gain after the private sector lender reported 20% year-on-year (Y-oY) rise in its net profit at Rs 3,894 crore, in line with estimates, for the quarter ended June 2017 (Q1FY18). The bank had reported profit of Rs 3,239 crore in the corresponding period of the previous year.

10:18 AM

COMMENT: Nitasha Shankar, Sr. Vice President and Head of Research, YES Securities on Nifty hitting 10,000

 

The markets have crossed a sentimental barrier of 10,000 which is a phenomenal feat in itself. The spectacular run-up in stock prices over the past few years goes on to re-affirm the India shining story which in turn is driven by macro-economic condition and fundamentals of the country. 

 

Our recommendation to long-term investors is to remain invested in these markets as the 'India Shining' story still has lot of steam in it. However, global geo-political situation could cause aberrations. It is always prudent to keep booking some profits whenever new peaks are attained

10:10 AM

RIL hits recod high

RIL hit a record high of Rs 1,629, surpassing its previous high of Rs 1,626 touched on January 15, 2008 in intra-day deal. In the last three trading sessions, the stock rallied over 6% after Mukesh Ambani, chairman and managing director of RIL, announced the board's recommendation for one bonus share for every one held by shareholders, at the 40th Annual General Meeting (AGM) in Mumbai on Friday.

10:06 AM

Analyst view

 

Ambareesh Baliga: In the short term, we may be looking at possible blow out rally as Nifty crosses 10,000 but could end up gobbling a lot of hard earned money of gullible investors. It is important to get rich but more important to stay rich.

 

Click here to decode the bull run

 

9:56 AM

Markets check: Markets pare opening gains after Nifty hit 10,000-mark for the first time in 21 years. 

At 9:55 am, S&P BSE Sensex was trading at 32,215, down 30 points while the broader Nifty50 index was ruling at 9,960, down 6 points.

 

In broader markets, the BSE Midcap was little changed while the BSE Smallcap was doen 0.2%.

9:50 AM

The launch of Nifty index

 

The NSE launched its flagship 50-share index on April 21, 1996 with a base value of 1000, and base year 1995. It was then called the CNX Nifty and was renamed in 2015 as Nifty50.

9:49 AM

Top gainers and losers on BSE Sensex

Source: BSE

9:47 AM

Markets pare some opening gains

At 9:48, S&P BSE Sensex was trading at 32,302, up 56 points while the broader Nifty50 index was ruling at 9,985, up 19 points.

In broader markets, The BSE Midcap and BSE Smallcap indices were trading 0.4% and 0.2% higher respectively.

9:43 AM

Nifty hits 10,000-mark: Sectors and stocks to invest in

Banks and NBFCs

 

Banking stocks remain analysts’ favourite and they suggest investing in private sector banks instead of their PSU counterparts. "Investors should look at Axis Bank, HDFC Bank and Yes bank in large caps and IndusInd Bank and RBL Bank among midcap banks," says Gaurang Shah of Geogit Financial Services.

FMCG

 

ITC, HIL, Godrej Consumer, Dabur, Marico and Emami are the top picks at current valuations in the sector for Shah.

Cement

 

AK Prabhakar recommends ACC, Ambuja Cements and India Cements at the current valuations.

Click here for full report

 

9:26 AM

Reliance, TCS, Indiabulls Housing Finance HDFC Bank and Bharti Airtel gained the most on Nifty50 while Bharti Infratel, Axis Bank, Tata Steel and Vedanta lost the most on the index

9:24 AM

Nifty hits 10,000

Source: NSE

9:20 AM

The Nifty50 moved from 9,000 to 10,000 mark in 91 sessions, 4 months

9:19 AM

Nifty hits 10,000

Nifty50 hits the historic 10,000- mark in Tuesday's trade on earnings optimism shrugging off the global weakness led by gains in the banking and financial stocks. The Sensex also gained over 100 points at open to hit new record high of 32,374, surpassing the previous milestone of 32,320, hit yesterday.

9:07 AM

Pre-open trade

Nifty50 hits the 10,000-mark in the pre-open trade while Sensex also gains over 100 points on earnings optimism ahead of the US Fed meet.