Nifty ends above 8750 mark

Closing Bell:

Finally, the BSE Sensex ended with a gain of 109 points at 28,452. The BSE Sensex opened at 28,372 touched an intra-day high of 28,532 and low of 28,363.

The NSE Nifty closed with a gain of 42 points at 8,786. The NSE Nifty opened at 8,754 hitting a high of 8,819 and low of 8,754.

Live Market:

The Indian equity market are trading higher on positive Asian cues.   The NSE Nifty50 index touched the 8,800 mark for the first time since April 15, 2015.

The stock market has extended gains for a third day led by gains in bank and pharma companies. The Sensex hit highest level in more than thirteen months. The Nifty hit highest level in more than sixteen months.

At 12:13 PM, the S&P BSE Sensex is trading at 28,405 up 62 points, while NSE Nifty is trading at 8,777 up 33 points.

The BSE Mid-cap Index is trading up 0.57% at 13,243 whereas BSE Small-cap Index is trading up 0.29% at 12,663.

Tata Motors, Hero MotoCorp, Dr.Reddy'sLupin, L&T and Bajaj Auto are among the gainers, whereas ONGC, NTPC, TCS, Tata Steel, Coal India and RIL are losing sheen on BSE.

Some buying activity is seen in auto, industrial, banking, consumer durables, capital goods, telecom and pharma sectors, while IT, utilities, power, metal and energy sector are showing weakness on BSE.

The INDIA VIX is up 1.55% at 13.2225. Out of 1,857 stocks traded on the NSE, 695 declined, 846 advanced and 316 remained unchanged today.

A total of 65 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE.
The rupee opened marginally lower by 5 paise at 67.08/$ against US Dollar Wednesday as against the previous close of 67.02/$.

Sensex, Nifty rally; Auto, Industrial gain

The Indian equity market are trading higher on positive Asian cues.   The NSE Nifty50 index touched the 8,800 mark for the first time since April 15, 2015.

The stock market has extended gains for a third day led by gains in bank and pharma companies. The Sensex hit highest level in more than thirteen months. The Nifty hit highest level in more than sixteen months.

At 12:13 PM, the S&P BSE Sensex is trading at 28,405 up 62 points, while NSE Nifty is trading at 8,777 up 33 points.

The BSE Mid-cap Index is trading up 0.57% at 13,243 whereas BSE Small-cap Index is trading up 0.29% at 12,663.

Tata Motors, Hero MotoCorp, Dr.Reddy'sLupin, L&T and Bajaj Auto are among the gainers, whereas ONGC, NTPC, TCS, Tata Steel, Coal India and RIL are losing sheen on BSE.

Some buying activity is seen in auto, industrial, banking, consumer durables, capital goods, telecom and pharma sectors, while IT, utilities, power, metal and energy sector are showing weakness on BSE.

The INDIA VIX is up 1.55% at 13.2225. Out of 1,857 stocks traded on the NSE, 695 declined, 846 advanced and 316 remained unchanged today.

A total of 65 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE.
The rupee opened marginally lower by 5 paise at 67.08/$ against US Dollar Wednesday as against the previous close of 67.02/$.

RBL Bank made a stellar debut in markets with the stock surging nearly 36% to Rs.305.50 against its issue price of Rs.225.

Kotak Mahindra Bank gained 2% to Rs.800. The bank said the Reserve Bank had granted approval to Canada Pension Plan Investment Board to buy stake in excess of 5% and up to 5% in the bank.

UltraTech Cement soared 4%. The Reserve Bank of India has notified that Foreign Institutional Investors/Registered Foreign Portfolios Investors can now invest up to 30% of the paid up capital of Ultra Tech Cement Limited under the Portfolio Investment Scheme (PIS).

Tata Motors jumped 3% to Rs.544.10. The company is planning to reduce the number of platforms used in manufacturing passenger vehicles and increase platform sharing to drive down costs, as per media reports.

Hindustan Copper climbed 2.8% to Rs.67.10 after the company has executed a Joint Venture Agreement with Chhattisgarh Mineral Development Corporation Ltd, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh.

Cox & Kings Ltd is currently trading at Rs. 187.9, down by Rs. 5.4 or 2.79% from its previous closing of Rs. 193.3 on the BSE. The tour and travel company posted 24% dip in consolidated net profit to Rs.108.07 crore for the first quarter ended June 30, 2016-17 as compared to Rs.141.60 crore for the corresponding period of the previous fiscal.

Mahanagar Telephone Nigam Ltd soared 4.4% to Rs. The company will launch Wi-Fi Hotspot in Delhi, Mumbai in partnership with Private firm, as per media reports.

Housing Development Finance Corporation Ltd is currently trading at Rs. 1403, up by Rs. 10.7 or 0.77% from its previous closing of Rs. 1392.3 on the BSE. Housing Development Finance Corporation Ltd has informed BSE that pursuant to the approval of the Board of Directors of the Corporation at its meetings held previously, the Corporation is contemplating, subject to market conditions, undertaking an issuance of Rupee Denominated Bonds to overseas investors.

IDBI Bank Ltd is currently trading at Rs. 73.25, up by Rs. 0.85 or 1.17% from its previous closing of Rs. 72.4 on the BSE. The bank has raised capital of Rs.1,500 crore through Basel III compliant Additional Tier-1 (AT1) bonds. The issue opened and closed on August 30, 2016. This is the first AT1 bond issuance by the Bank during FY 2016-17.

Bharat Petroleum Corporation Ltd is currently trading at Rs. 601.3, down by Rs. 6.05 or 1% from its previous closing of Rs. 607.35 on the BSE. The oil company will announce its Q1 numbers today.
 
Asian markets opened mixed. Nikkei 225 gained 0.78%, while Hang Seng and Shanghai Composite are trading in red.

Wall Street closed lower. The Dow Jones industrial average fell 0.26% to 18,454.3, the S&P 500 lost 0.2% to 2,176.12 and the Nasdaq Composite dropped 0.18% to 5,222.99. US consumer confidence rose to an 11-month high in August, with households more upbeat about the labor market. Payrolls data on Friday could strengthen the case for higher US interest rates, as has been hinted over the past week by Federal Reserve officials.

Arun Jaitley said that Indo-US trade will get a boost due to business to business, business to Government and Government to Government interaction between the two countries. The Finance Minister said that foreign investment is important for India in order to have larger investment in infrastructure sector.

On the economy front, investors are also cautious ahead of the GDP data for the June quarter and fiscal deficit data for July on 31 August.

The inter-ministerial body Foreign Investment Promotion Board has approved six foreign investment proposals worth Rs 105 crore. The FIPB meeting chaired by Economic Affairs Secretary Shaktikanta Das approved proposal of Ceva Sante Animale of Rs.88 crore.

Nifty reclaims 8800, Sensex up 100 pts; RBL Bank shares soar 25%

Oil prices extended losses in Asia on the back of a strong dollar while reported comments by Iran's oil minister that his country planned to boost output ramped up oversupply worries. 

The comments by Bijan Zangeneh, carried by Iran's official news agency on Tuesday, added to a feeling that an informal OPEC meeting with Russia in September may not result in a deal that would boost prices.

 Zangeneh said Iran needed to raise its output to regain the market share lost while it was under international sanctions, which were lifted only in January. 

Iran has struggled to raise production above four million barrels per day since the the sanctions were removed, according to the report, which said it is currently producing 3.8 million. 

Kotak Mahindra Bank shares surged to record high of Rs 807, up 2.7 percent intraday after the Canada Pension Plan is allowed to increase stake in the country's third largest private sector lender (by market capitalisation). 

"The Reserve Bank of India on Tuesday said it has granted approval to Canada Pension Plan Investment Board (CPPIB) for acquiring shares in excess of 5 percent and below 10 percent of the paid up capital of Kotak Mahindra Bank. 

The country's gross domestic product (GDP) growth is expected to see a slowdown in the first (April-June) quarter of fiscal year 2017, as the impact of a high base and higher deflator plays out. 

Compared with that, GDP in last (January-March) quarter of fiscal 2016 showed GDP had come in at 7.9 percent. 

For the first quarter, gross value added (GVA), too, is seen slowing from 7.4 percent to 7.3 percent. The data is expected today. 

Equity benchmarks extended rally for the fourth consecutive session with the Nifty reclaiming 8800 level for the first time since April 15, 2015. 

The 30-share BSE Sensex was up 102.10 points at 28445.11 and the 50-share NSE Nifty rose 44.65 points to 8789. About 1204 shares advanced against 566 declining shares on the BSE. 

Shares of RBL Bank debuted on the exchanges at Rs 274.20 per share, up 22 percent from its issue price of Rs 225. It surged to Rs 282.40 in early trade. The first private lender IPO in a decade was opened for subscription between August 19-23.

Opening Bell - Sensex, Nifty flat in early trade

At 9:15 AM, the S&P BSE Sensex is trading at 28,377 up 33 points, while NSE Nifty is trading at 8,754 up 10 points.

The rupee opened marginally lower by 5 paise at 67.08/$ against US Dollar Wednesday as against the previous close of 67.02/$.

Asian markets opened mixed. Nikkei 225 gained 0.78%, while Hang Seng and Shanghai Composite are trading in red.

The Nifty ended with a decisive break above 8700 on Tuesday. Sentiments got a boost with the latest statement from the RBI, sharing optimism over the growth prospect in this fiscal. Also, firm opening of European markets further strengthened the rally.

Wall Street closed lower. The Dow Jones industrial average fell 0.26% to 18,454.3, the S&P 500 lost 0.2% to 2,176.12 and the Nasdaq Composite dropped 0.18% to 5,222.99. US consumer confidence rose to an 11-month high in August, with households more upbeat about the labor market. Payrolls data on Friday could strengthen the case for higher US interest rates, as has been hinted over the past week by Federal Reserve officials.

Arun Jaitley said that Indo-US trade will get a boost due to business to business, business to Government and Government to Government interaction between the two countries. The Finance Minister said that foreign investment is important for India in order to have larger investment in infrastructure sector.

On the economy front, investors are also cautious ahead of the GDP data for the June quarter and fiscal deficit data for July on 31 August.

The inter-ministerial body Foreign Investment Promotion Board has approved six foreign investment proposals worth Rs 105 crore. The FIPB meeting chaired by Economic Affairs Secretary Shaktikanta Das approved proposal of Ceva Sante Animale of Rs.88 crore.

RBL Bank will make its stock market debut today.The company's IPO was oversubscribed a staggering 69.62 times, with the qualified institutional buyers (QIBs) portion getting oversubscribed 85.08 times, non institutional investors chunk 198.06 times and retail investors portion 5.70 times, as per data available with the NSE.