Late rally lifts Nifty above 11,000 mark


How well the EQSIS recommendations performed today 08 August?

1. EQSIS Intra: Long GODREJCP above 641 Target 649.1 Stop below 634.5 CMP 639

Status: On Cost

2. EQSIS Intra: Short CIPLA below 499.9 Target 496 Stop above 503 CMP 501

Status: Target


5:12:56 PM

Closing Bell: Late rally lifts Nifty above 11,000 mark

The last hour surge helped the index to close the Thursday session above 11,000 level amid reports that the government is likely to withdraw higher surcharge on foreign portfolio investors.

The announcement of repo rate cut of 35bps by the Reserve Bank India on Wednesday also improved the investor’s sentiment.

All the sectoral indices on the NSE ended in positive territory led by the Nifty Auto Index’s 3 percent rally. Banking, financial services, FMCG, information technology, media, metal, pharma, PSU bank and realty sector gauges also rose over a percent each.

HCL Technologies was the top gainer among the NSE stocks, ending up 6.7%, followed by Tata Motors, JSW Steel, Mahindra & Mahindra, Reliance Industries and Bajaj Auto.

On the flipside, Tata Steel, Cipla, UltraTech Cement and India bulls Housing Finance were among the notable laggards.


12:50:01 PM

Market Update: Nifty trade choppy; IT stocks shine

The wider 50-scrip Nifty of the National Stock Exchange (NSE) traded 35 points higher at 10,890 points. Indian benchmark index nifty were trading range-bound near 10,900 marks on Thursday’s afternoon session. At the National Stock Exchange, sectoral indices were mixed with IT, banking, financial services, auto and realty in the green. But media, PVT & PSU were in the negative zone.


10:18:37 AM

Morning Update: Nifty Regain Momentum After Shaky Start

The NSE Nifty were trading at 10,883, up 27 points on Thursday. The equity benchmark index Nifty regained momentum after fluctuating between gains and losses in the early trade as gains in PSU Bank, automobile, information technology, and realty indices supported the markets however weakness in metal and other banking indices kept the upside in check.

The announcement of repo rate cut of 35bps by the Reserve Bank India on Wednesday has failed to cheer the investors, it was the fourth rate cut by the central bank in a row.

HCL Tech, Infratel, Coal India, Eicher Motors, Tata Motors, Infosys, Yes Bank are among major gainers on the indices in the early trade, while losers include Tata Steel, Cipla, IndusInd Bank, Tech Mahindra, and Asian Paint.


9:55:42 AM

FII & DII data

The foreign institutional investors (FIIs) sold shares worth Rs 383.66 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 531.56 crore as on August 7th, 2019.


9:54:44 AM

Nifty Earnings To Watch

  • UltraTech Cement
  • Page Industries
  • Godrej Properties
  • UCO Bank
  • Tata Chemicals
  • City Union Bank
  • Coffee Day Enterprises
  • Adani Enterprises

8:55:30 AM

Earnings Reaction To Watch

Tata Steel Ltd

  • Total revenue grew to Rs 35945 crores in Q1 FY20, a decrease from Rs 37832 crores in Q1 FY20.
  • Net profit after tax to Rs 630 crores in Q1 FY20, a decrease from Rs 1891 crores in Q1 FY20.
  • Earnings per share to Rs 6.2 in Q1 FY20, a decrease from Rs 7 in Q1 FY20.

Lupin ltd

  • Total revenue grew to Rs 4418 crores in Q1 FY20, an increase from Rs 3855 crores in Q1 FY20.
  • Net profit after tax to Rs 301 crores in Q1 FY20, an increase from Rs 202 crores in Q1 FY20.
  • Earnings per share to Rs 6.7 in Q1 FY20, an increase from Rs 4.4 in Q1 FY20.

8:51:26 AM

Top News Of The Day

Repo Rate Cut By RBI

  • The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Wednesday cut repo rate by 35 basis points (bps) in its third bi-monthly policy review of the financial year.

Gold Hits All Time High

  • Gold prices on Wednesday surged Rs 1,113 to hit an all-time high of Rs 37,920 per 10 gram in the national capital on sustained buying from jewellers amid strong trend overseas as fresh trade tensions between the US and China prompted investors to move towards gold as safe haven asset.

8:45:47 AM

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