Weekly Market Watch: Sensex posts biggest weekly rise in a year

Stock markets on the week ended Friday, 19 January 2018, posted their 7th consecutive weekly longest winning flash since February 2012 led by strong report strong earnings of the companies. The Sensex gained 2.7 percent by 919 points during the week, clocking the biggest weekly jump in a year, helped by govt’s move to slash additional borrowing and expectations of higher FDI in the banking sectors.

The BSE Sensex jumped 0.7% with 251 points to 35,511.58, while the NSE Nifty added 0.72% with 77.70 points to 10,894.7 a new all-time peaks for both the indices. The Nifty gained 304 points, or 2.85%. The broader market, underperformed with the BSE-500 index gaining only 0.62 percent.

As per Bloomberg estimates, Nifty company profits for Oct – Dec are expected to rise an average of 17% from a year earlier, greater than the 13% growth in the previous quarter.

The government this week slashed levies ahead of the February 1 budget presentation.

Bank stocks extended gains from Thursday on report that India is considering allowing foreign investors to own larger stakes in them.

Banking stocks kept in focus amid reports that the govt is considering raising the foreign investment upper limit in private banks to 100% and in public sector lenders to 49%.

Market open higher, Reliance, ITC, HDFC Bank earnings in focus

Sensex nifty up Sensex, Nifty edged higher in early trade led by Asian stock’s firmness and the GST council in its last meet slashed the tax rate on 54 services and 29 items together easing the return filing process for businesses boosted sentiment. Q3 earnings heavy weight companies like HDFC Bank, ITC Ltd, Reliance Industries and Wirpro are also under focus. 

The BSE Sensex was trading at 35,384.30, up 124 points, while the broader Nifty 50 index was ruling at 10,843, up 25 points in later morning hours.

HDFC Bank, HCL Technologies, Reliance Industries Ltd, ITC Ltd, and Wipro Ltd are among the major companies that will be unveiling their Q3 results on Friday.

Major contributors to Sensex gain include Reliance Industries Limited, HDFC, Adani Ports, ITC Ltd, SBI and Larsen and Toubro.

Shares of HCL Technologies rose 0.4 percent after the company retained its full fiscal year revenue and margin growth guidance.

Private banking stocks were also among the major gainers with those of Yes Bank up 1.8 percent.
Bharti Airtel Ltd shares fell 1% and were the worst hit on Nifty50 index, since the company reported an 11 pct on-quarter decline in its consolidated net profit.

Sensex rallies 345 pts, Nifty nears 10,900; Banking stocks gain

stock market highIndia’s share markets extended the session at fresh lifetime highs tracking global cues, and after media report that the govt is allowing 100 percent FDI in the banking sector. The BSE Sensex gained 344.69 points at 35,426.51 while NSE Nifty added 78 points to mark the new high of 10,866.50 on Thursday, later morning.

The value buying in the shares such as ICICI Bank, HDFCs, SBI, ITC, Axis Bank, HUL, L&T and Yes Bank led the key equity indices to fresh record peaks.

Banking stocks gained after media reports that the govt considered allowing 100 percent FDI in the banking sector. Effectively, ICICI Bank, SBI, HDFC Bank, Yes Bank, Axis Bank, PNB, Federal Bank, Bank of Baroda, Indusind Bank rose in different extents.

Shares of SBI, HDFC Bank, Hero MotoCorp, ICICI Bank and Yes Bank were the top five gainers among the Sensex stocks on Thursday.

Shares of Yes Bank jumped 3.36 pct to the day’s high of Rs. 354 ahead of its Q-3 earnings, while stocks of HDFC Bank rose 2.32% to hit an all-time peak of Rs. 1,935.

Shares of UltraTech Cement, Adani Ports SEZ, Yes Bank and Bharti Airtel will be watched ahead of their respective third-quarter earnings scheduled today.

 

Nifty gainers and losers

Sensex up 114 points, Nifty above 10,720 mark; TCS, Infosys rose

stock market high Key Indices after opening in a flat note in the morning due to weak Asian cues. However, Sensex and Nifty erased their early losses and were trading in the green. The BSE Sensex was up 79.02 points or 0.23 per cent at 34,850.07 and the Nifty was up 10.4 points or 0.1 per cent at 10,710.85 in later hours.

The Sensex helped by a surge in prices of Infosys and TCS which were up by more than 2 percent each. Shares of ICICI Bank, HDFC Bank and Dr Reddy’s Lab were up by more than 1 percent each. Asian Paints, Coal India, Power Grid shares were among the top losers in the Sensex.

GAIL India, Zee Entertainment and Wipro shares registered gains in the Nifty, whereas shares of Kotak Mahindra Bank and Ambuja Cement posted declines. GAIL India’s stock was up over 1% as the company and Russia’s Gazprom have renegotiated their long-term 2.5-mtpa liquefied natural gas supply pact.

Shares of Sun Pharma rose over 1 percent to Rs. 583 after the company announced that it got license to sell the generic version of Linzess in US.

Shares of IPCA Laboratories Limited rose over 1 percent to Rs. 580.50 after the company said it acquired Pisgah Labs in US for USD 9.65 million.

Commodity MCX – Gold rises 200, silver shines

gold silver price high Apart from the Global Market, the increased demand for the wedding season, between local jewellers and retailers, has become increasing price by Rs 200. Gold prices in the Delhi bullion market have risen to Rs 30,950 per ten gram. This is a three-month high level. Due to demand among Industrial units and quin makers, the silver price has gone up to 40 thousand per kg.

The reason for this increasing price Gold and Silver-
Due to increasing gold price between demand local jewellers and retailers say bullion traders. In addition, gold is also strong in global trends. Globally, Gold high 0.42 percent to $1,343 an ounce in the Singapore market. In this same Silver gained 0.90 percent to $17.36 an ounce.