Market Live: Nifty, Sensex rise to all time highs on optimism around Q1 results

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Mumbai: The Sensex rose to an all time high of 32,131.92 and the Nifty soared to a record high of 9,920.30 on Monday, aided by fresh buying by participants and availability of more foreign capital. Asian markets ruled higher taking a cue from record close in the US on Friday. Investors remained hopeful that blue-chip companies will churn out better earnings numbers in coming days. The 30-share index moved higher by 73.69 points, or 0.23%, to 32,094.44. It surrendered its record high position by losing 16.63 points in the previous session on Friday. IT, technology, metal, auto, banking, oil and gas and power stocks chipped in.

The NSE Nifty recaptured the key 9,900 mark by gaining 25.60 points, or 0.25%, to trade at 9,911.95. The big gainers were Wipro, Adani Ports, Infosys, ICICI Bank, Tata Motors, M&M, ONGC and Reliance Industries, rising by up to 3.26%. Hong Kong’s Hang Seng moved up 0.53% while Japan’s Nikkei rose 0.09% Monday. Shanghai Composite, however, shed 0.46%. The US Dow Jones Industrial Average ended at another record high by surging 0.39% on Friday

■ 10.30am: Rolta India rose 7% to Rs62.80 after the company said it got geospatial digital transformation order worth $10.80 million.

■ 10.15am: Indraprastha Gas Ltd rose 3% to Rs1,154.05 after the company said in a notice to BSE that it got permission from Haryana to lay gas distribution network.

■ 10.05am: BSE Sensex trades higher by 76 points, or 0.24%, to 32,097, while the Nifty 50 rises 21 points, or 0.21%, to 9,907.

■ 10.00am: Wipro Ltd rose 5% to Rs272.15 after the company on Friday said it will hold board meeting on 3 July to consider share buyback.

■ 9.55am: Karnataka Bank fell 3.8% to Rs159.40. The bank had reported a net profit of Rs121.54 crore in the April-June quarter of 2016-17.

■ 9.50am: Religare Enterprises Ltd fell 5.6% to Rs110.70. Malvinder Singh and Shivinder Singh-owned RHC Holding Pvt. Ltd has failed to pay interest on non-convertible debentures (NCDs) by its 30 June deadline, prompting India Ratings and Research to downgrade the debentures to default status.

■ 9.45am: Inox Wind Ltd fell 4% to Rs152. Inox Wind Ltd on Friday said it has settled a payments dispute with Jeena and Co, a freight company that had filed a case against the wind energy firm with the Chandigarh bench of the National Company Law Tribunal (NCLT) for bankruptcy proceedings.

■ 9.40am: ICICI Bank Ltd rose 1% to Rs301.20. ICICI Lombard General Insurance Co. Ltd, the non-life insurance joint venture of ICICI Bank Ltd and Fairfax Financial Holdings Ltd, on Friday filed the draft red herring prospectus for its initial public offering (IPO). ICICI Lombard, founded in 2001, is the first non-life insurance company to file for a public offering. The IPO, a pure offer for sale, will see ICICI Bank and Fairfax sell around 86.24 million shares.

■ 9.35am: BSE Sensex trades higher by 85 points, or 0.27%, to 32,106, while the Nifty 50 rises 27 points, or 0.28%, to 9,914.

■ 9.25am: The 10-year bond yield was at 6.466%, compared to its previous close of 6.456%. Bond yields and prices move in opposite directions.

■ 9.20am: Reliance Industries Ltd (RIL) on Monday became the second Indian company to cross Rs 5 trillion market capitalisation after Tata Consultancy Services (TCS). RIL scrip surged for the eleventh consecutive session and climbed 11.6% in this period. At 9.20am, the stock was trading at Rs1,547.15 on BSE, up 1.1% from previous close while its m-cap stood at Rs5.01 trillion. Analyst expects that the gains in the stock was may be on the hopes of positive announcement particularly on Jio front in its annual general meeting which is due on 21 July.

■ 9.15am: The rupee opened at 64.36 a dollar. At 9.15am, the rupee was trading at 64.35 a dollar, up 0.15% from its Friday’s close of 64.45.

■ 9.10am: ITC fell 2% to Rs331. Over two weeks into the goods and services tax (GST) regime, the all-powerful GST Council will meet on Monday to take stock of the implementation of the new indirect tax.

■ 9.00am: South Korean won was up 0.37%, Indonesian rupiah 0.18%, Taiwan dollar 0.15%, Singapore dollar 0.12%, China renminbi 0.1% and Thai baht 0.08%. However, Japanese yen was down 0.12% and Philippines peso 0.07%.

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