A traffic signal stands illuminated next to the Bombay Stock Exchange (BSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Strong Earnings Help Sensex, Nifty Clock Second-Best Month Of 2018

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Closing Bell: Sensex, Nifty Clock Second-Best Month Of 2018

Indian equity benchmarks clocked their second best monthly gain of 2018 as Indian companies continue to report strong earnings.

The S&P BSE Sensex rose 0.3 percent or 112 points to record high of 37,606.58 and the NSE Nifty 50 index climbed 0.33 percent or 37 points to an all-time high of 11,356.50.

Most of the Nifty companies that have reported earnings so far have either met or beaten estimates in June quarter. Fifteen companies have met estimates, seven have beaten while eight missed estimates, data compiled by BloombergQuint showed.

Gains in today's session was led by Reliance Industries after it surpassed TCS to become India's most valuable company.

Sixteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Energy index’s 1.9 percent gain. On the other hand, the S&P BSE Finance index was top loser, down 0.5 percent.

Bharat Electronics Surges After Profit Beats Estimates In Q1

Shares of the Bengaluru-based defence equipment maker rose as much as 8.4 percent to Rs 116.90 after its profit beat Bloomberg estimate of Rs 116.90.

Key earnings highlights:

  • Net profit up 44 percent at Rs 180 crore versus estimate of Rs 94.3 crore
  • Revenue up 17.2 percent at Rs 2,077.84 crore versus estimate of Rs 1,772.83 crore (YoY)
  • Other income at Rs 8.88 crore

Prism Johnson Falls After Block Deals

  • Prism Johnson has 36 lakh shares change hands in two blocks. Stock down 5.5 percent to Rs 108.

Buyers and sellers were not immediately known

Source: Bloomberg

India’s Budget Deficit Reaches 68.7% Of FY19 Target

India’s April-June fiscal deficit at Rs 4.29 lakh crore versus full-year budget estimate of Rs 6.24 lakh crore, Finance Ministry data showed.

April-June revenue deficit came in at Rs 3.52 lakh crore or 85 percent of full year estimate of Rs 4.17 lakh crore.