The CNX Nifty logo is displayed on a glass facade at the National Stock Exchange (NSE) in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Extend Record Closing Spree Led By FMCG, IT Stocks

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Closing Bell: Sensex, Nifty Extend Record Breaking Spree

Indian equity benchmarks extended their record-breaking spree led by IT and FMCG shares.

The S&P BSE Sensex rose 0.13 percent to a new closing high of 38,336.76 and the NSE Nifty 50 index climbed 0.1 percent to an all-time closing high of 11,582.75.

In today's trade, the benchmarks moved in a narrow range as gains in FMCG and IT shares was offset by losses in banking and metal stocks.

Twelve out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE IT index's 1.2 percent gain. On the flipside, the S&P BSE Metal index was top loser, down 1.5 percent.

The mid- and small-cap shares ended mixed as the S&P BSE MidCap rose 0.2 percent while the S&P BSE SmallCap index fell 0.14 percent.

Gillette India Falls After Profit Declines In June Quarter

Shares of the shaving products maker fell as much as 2.4 percent to Rs 6,400 after its profit declined in April-June quarter.

Key earnings highlights:

  • Net profit down 8.1 percent at Rs 34.62 crore versus Rs 37.67 crore (YoY)
  • Revenue down 6.3 percent at Rs 410 crore versus Rs 437.59 crore (YoY)
  • Board declares final dividend of Rs 23 per share

Indian Banks Have Huge Asset-Liability Mismatch: ICICI Bank Chairman GC Chaturvedi

  • Indian banks’ asset liability mismatch because corporate bond market borrowing is low
  • ICICI Bank not yet replied on Videocon notice by SEBI
  • Waiting for Shrikrishna panel report to reply to SEBI

Source: Bloomberg

Reliance Industries Hits Rs 8 Lakh Crore Market Cap

Mukesh Ambani-owned Reliance Industries Ltd. has become the first Indian company to cross Rs 8 lakh crore ($114 billion) in market capitalisation.

Shares of the oil-to-telecom conglomerate rose as much as 1.47 percent to Rs 1,265 apiece – an all-time high for the stock. It has risen 37.3 percent so far this year, compared to nearly 10 percent advance in the NSE Nifty 50 Index.

JB Chemicals Surges As Board To Consider Share Buyback Proposal

Shares of the Mumbai-based specialty pharma company rose as much as 9.5 percent to Rs 333.

The company's board will meet on Aug. 31 to consider share buyback proposal, JB Chemicals said in an exchange notification.