Mumbai: The benchmark Sensex and the broader Nifty on Monday jumped to new life highs of 33,295 and 10,369, respectively, with encouraging quarterly earnings sending out a positive signal among investors. PSU, consumer durables, infrastructure and auto stocks remained in the lead. Positive Asian shares added to optimism. Buying by domestic institutional investors lifted mood too, traders said.
The Sensex climbed 138.11 points to scale a new high of 33,295.33, breaching its previous intraday record of 33,286.51 hit on 27 October. The NSE Nifty too rose 0.44% to scale a fresh lifetime high of 10,369.15, breaking its previous intraday record of 10,366.15 touched on Friday. Other Asian markets saw a firming trend as investors tracked a record closing on Wall Street on Friday. Hong Kong’s Hang Seng was trading higher by 0.06%, while Japan’s Nikkei rose 0.35%. Shanghai Composite, however, shed 0.09%. The US Dow Jones closed 0.14% higher on Friday. Here are the latest updates
■ 12.09pm: BSE Sensex rose 146.65 points, or 0.44%, to 33,303.87, while the Nifty 50 gained 53.15 points, or 0.51%, to 10,376.20.
■ 12.05pm: Bharat Electronics Ltd (up 1.86%), HDFC Ltd (down 0.47%), IDFC Ltd (down 1.03%), Bharti Infratel Ltd (up 2.0%), Lupin Ltd (up 0.39%), LIC Housing Finance Ltd (up 0.77%), Sintex Industries Ltd (up 1.11%), Tata Steel Ltd (down 1.48%) and Wockhardt Ltd (0.63%) are some of the companies that will release their earnings for the September quarter on Monday.
■ 12.00pm: Cadila Healthcare shares rose 0.69% to Rs494.80 after it said Zydus received final US FDA approval for Clobetasol Propionate Ointment.
■ 11.20am: BSE Sensex rose 104.68 points, or 0.32%, to 33,261.90, while the Nifty 50 gained 46.30 points, or 0.45%, to 10,369.35.
■ 11.15am: ICICI Bank shares rose 2.18% to Rs307.50. ICICI Bank Ltd on Friday reported a larger-than-expected decline in September quarter net profit, but, unlike its private sector rivals Axis Bank and Yes Bank, ICICI Bank did not report higher bad loans in the three months.
■ 11.10am: Subros Ltd shares rose as much as 7.5% to Rs282.45 after the company said it has acquired business for blower assembly from Ashoka Leyland, Swaraj Mazda, Mahindra truck and bus Division, and Tata Motors Ltd.
■ 10.38am: BSE Sensex rose 137.93 points, or 0.42%, to 33,295.42, while the Nifty 50 gained 51.20 points, or 0.50%, to 10,374.25.
■ 10.35am: Adani Transmission Ltd fell 4% to Rs221 after the company said its loss for the September quarter widened to Rs20.12 crore against Rs14.95 crore a year ago.
■ 10.30am: Tata Steel Ltd rose 1% to Rs733.75 ahead of its earnings due later today. According to 11 Bloomberg analyst estimates, the company may report a net profit of Rs 1663.20 crore while net sales will be at Rs 32295.90 crore.
■ 9.53am: BSE Sensex rose 153.39 points, or 0.46%, to 33,310.61, while the Nifty 50 gained 53.50 points, or 0.52%, to 10,376.55.
■ 9.50am: ONGC shares rose 2.91% to Rs188.90. The company’s net profit rose 3.1% to Rs5,131 crore in July-September quarter from Rs4,975 crore in the same period last year. Revenue was up 3.1% at Rs18,966 crore.
■ 9.48am: Aviation stocks gain. Jet Airways India Ltd rose 7%, InterGlobe Aviation Ltd rose 1.7% and SpiceJet Ltd rose 2.6%.
■ 9.25am: BSE Sensex opened higher by 112.25 points, or 0.34%, to 33,269.47, while the Nifty 50 rose 38.30 points, or 0.37%, to 10,361.35.
■ 9.23am: Banking stocks trading higher. Syndicate Bank rose 3.6%, Punjab National Bank 3.4%, Oriental Bank of Commerce 2.7%, Bank of India 2.7%, Bank of India 2.1%, Indian Bank 1.9%, Allahabad Bank 1.7%, Union Bank of India 1.7%, Yes Bank 1.7%, Corporation Bank 1.7% and Central Bank of India 1.6%.
■ 9.20am: Shriram City Union Finance Ltd rose 4.5% to Rs2,240.65 after Mint reported that IDFC Ltd and Shriram Group are unlikely to extend the exclusive negotiation period for their proposed merger, which is ending on 8 November.
■ 9.17am: Maruti Suzuki India Ltd rose 1.2% to Rs8,215.20. Maruti’s profit rose 3.4% to Rs2,484.3 crore, from Rs2,401.5 crore a year ago. Net sales rose 21.8% to Rs21,428.1 crore, largely because of a better product mix that helped increase what the company earned from every car it sold. Maruti sold a total of 492,118 vehicles during the quarter, up about 18% from a year ago.
■ 9.15am: The rupee opened at 64.92 a dollar. At 9.15am, the home currency was trading at 64.90 against the dollar, up 0.24% from its Friday’s close of 65.05.
■ 9.13am: The 10-year bond yield was at 6.819% compared to its previous close of 6.805%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading higher ahead of the expected announcement of the new federal reserve chair. According to a Bloomberg report, President Trump favours Jerome Powell for the next chair of the Federal Reserve. South Korean won was up 0.58%, Taiwan dollar 0.30%, Indonesian rupiah 0.16%, Philippines peso 0.14%, China renminbi 0.10%, Japanese Yen 0.1%, China offshore 0.07% and Malaysian ringgit rose 0.06%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.812, down 0.11% from its previous close of 94.916.
With inputs from PTI