Sensex, Nifty Hit New Record Highs In A Volatile Session

India's NSE Nifty index closed at a fresh record high, led by automakers but gains were capped as investors booked profits in recent outperformers such as Bharti Airtel.

The S&P BSE Sensex gained 0.01 percent at 30,250, its highest ever. The NSE Nifty advanced 0.16 percent to a new record of 9,422.

Among the sectoral indices, S&P BSE Power index declined 1.2 percent while the S&P BSE Auto index rose nearly 1 percent.

The market breadth was skewed in the favour of losers, with about 5 stocks declining to every 4 stocks that advanced.

"I don't expect any big correction coming-in anytime soon. Earnings have so far been inline or a moderate beat compared with the estimates so that is supporting the sentiment," said Hitesh Agrawal, head – retail research at ‎Religare Securities.

• Stock has gained 15.7% in trade
• Has touched its highest level since September 2010
• Volume remain high at 7.58 times its 20-day average
• The food retail supplier has a market cap of Rs 631.38 crore

• Shares of textile maker fell as much as 4% to Rs 404, most since November 2016
• Q4 net income Rs 96.9 crore vs estimate Rs 107 crore
• Q4 revenue Rs 2,460 crore vs estimate Rs 2,510 crore
• To pay dividend of Rs 2.4 per share

• United Spirits (+10.8%)
• Radico Khaitan (+3.1%)
• Tilaknagar Industries (+2.4%)
• Globus Spirits (+3.5%)

• Shares up as much as 4.3% to Rs 166.80, most since December 2016
• Q4 net income Rs 66.2 crore vs estimate Rs 55.6 crore
• Q4 revenue Rs 175 crore vs estimate Rs 171 crore
• Volume at 1.3 times its 30-day average

• Shares of the telecom operator fell as much as 1.9% to Rs 365
• Stock retreats after jumping 4.5% on Wednesday, the most since January
• Kotak Mahindra cuts Bharti Airtel to add from buy; price target Rs 400
• Bharti Airtel top loser on the NSE Nifty index

• Shares of the drugmaker gained as much as 4.6% to a record high of Rs 491
• Zydus won federal circuit appeal in generic version of Lialda, the company said in a filing
• Volume at 3.2 times its 30-day average

• Offer subscribed four times at 11 am on the third day
• Qualified institutional investors quota subscribed almost three times
• IPO price band in the range of Rs 56-60 per share

Shares of the construction firm rose as much as 4.8% to a record high of Rs 217.50

Ashoka Buildcon gets letters of intent from Jharkhand Bijli Vitran Nigam for the electrification works for Ranchi and Medininagar towns.

Volume at 0.1 times its 30-day average.

The rupee made a comeback early on by recovering 14 paise to 64.49 against the dollar after fresh selling of the U.S. currency by exporters amid foreign fund inflows and a higher opening in the domestic equities market.

Besides, a weak dollar overseas also supported the rupee, forex dealers said.

In the previous trading session on Tuesday, the rupee tumbled 32 paise to end at a fresh three-week low of 64.63 against the resurgent dollar amid frantic demand for the American unit from importers. This was the rupee's biggest single-day loss this year.

(PTI)

• Shares up as much as 3.9%, extending Wednesday's gain of nearly 5%
• Q4 revenue Rs 1,580 crore vs estimate Rs 1,570 crore
• Q4 net income Rs 1,510 crore vs Rs 226.5 crore last year
• Declared dividend of Rs 2.50 per share

• Caplin Point: (+9.1%): Q4 net income Rs 21.9 crore vs Rs 15.2 crore last year
• MIC Electronics (-2.2%): Q4 net loss Rs 7.4 crore vs loss Rs 128 crore last year
• Phoenix Mills (+0.6%): Q4 net income Rs 26.1 crore vs Rs 6.3 crore last year
• Siemens India (-2.8%): Q2 net income Rs 186 crore vs estimate Rs 196 crore
• SML Isuzu (-2.4): Q4 net income Rs 8.9 crore vs Rs 16.7 crore last year

• Shares of aluminium miner rose as much as 4.5% to Rs 195, most since March 2017
• Hindalco’s unit Novelis reported a profit growth of 62% percent in Q4
• Net sales up 9% to $2.6 billion
• Novelis forms JV with Japan's Kobe Steel to pare debt
• Volume at 6.2 times its 30-day average

• Shares of software exporter rose as much as 1.8% to Rs 858, most since March 29
• Q4 net income Rs 2,330 crore vs estimate Rs 2,090 crore
• Q4 revenue Rs 12,050 crore vs estimate Rs 12,110 crore
• Sees fiscal year 2018 revenue growth at 10.5% to 12.5% in constant currency
• To pay dividend of Rs 6 per share

Indian shares opened at fresh record levels, led by software maker HCL Technologies following upbeat corporate earnings while gains in Asian equities also supported sentiment.

The S&P BSE Sensex rose 0.24 percent to 30,319, while the NSE Nifty gained 0.25 percent at 9,432. Both the indices closed at record levels in the previous session.

Among the sectoral indices, S&P BSE Metal index rose 1.2 percent while S&P BSE Auto advanced 0.4 percent.

The market breadth was skewed in the favour of gainers, with about 7 stocks advancing to every 2 stocks that declined.

• Q4 net profit Rs 2,330 crore vs estimate Rs 2,090 crore
• Sees FY18 revenue growth at 10.5% to 12.5%

• Tata Motors: April wholesale car sales, including Jaguar Land Rover, fell 9 percent.
• Hindalco Industries: Novelis unit Q4 adjusted EBIDTA $292 million.
• Kotak Mahindra Bank: Said to start fund raising soon as Thursday.
• ICICI Bank: Approved offshore borrowing plan for fiscal 2018.
• Filatex: Promoter Shankar Somai sells 2.3 lakh shares at Rs 134 each.

For a complete list of stocks, click HERE

Indian markets will reopen after a holiday yesterday and the focus will now shift on the monthly inflation data, due tomorrow. Though the consensus is for a softening, there may not be any relief for investors on the interest rate front as the RBI pursues a hawkish view on the measure.

The central bank will today hold reverse repo auctions for a total of more than 1 lakh crore, which will also be watched.

In Currency markets: The Indian rupee could be bolstered by capital inflows countering pressures of widening current account deficit. That's according to Bloomberg Intelligence.

India’s gold imports in April more than quadrupled to 98 tons, which may put pressure on trade deficit numbers, expected tomorrow.

• Arvind
• Asian Paints
• Glenmark Pharmaceuticals
• Havells India

• Capital First: Raised to hold from underperform at Jefferies, target price Rs 765
• ABB India: Cut to hold from buy at Reliance Securities; target price Rs 1,607
• Ambuja Cements: Raised to neutral vs sell at Goldman.

• India sparks WTO trade discord by blocking council meeting
• Modi diktat paying off: India infrastructure projects on a roll
• Tax headache in India is a bonanza for global accounting firms
• Pakistan eyes East Africa, Afghanistan, India for urea exports
• Global funds bought Rs 893 crore of local stocks; domestic funds sold Rs 230 crore on Wednesday: Provisional data

Also Read: Sharing Details Of Note Ban Process Will Affect India’s Economic Interests, Says RBI

Good Morning!

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, rose 0.2 percent to 9,442.

Asian shares edged higher on Thursday, following a yet another record closing on Wall Street as improved corporate earnings and positive U.S. economic data buoyed sentiment.

The Bloomberg Dollar Spot Index recouped all of its previous day losses, while gold extended declines to day seven.

Also Read: Fed's Rosengren Favors Three More 2017 Hikes to Foil Overheating

The S&P 500 index and Nasdaq Composite index closed at record highs as U.S. President Donald Trump’s surprise firing of FBI Director James Comey failed to spark risk aversion.

Energy and technology shares contributed the most to the gains in benchmark equities.

Oil held its biggest gain this year, as U.S. crude stockpiles declined by more than twice what had been forecast, continuing a decline from a record and easing concerns over a global supply glut.