Sensex Closes At Record High; Nifty Ends Below 11,950
A traffic signal stands illuminated next to the Bombay Stock Exchange (BSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Sensex Closes At Record High; Nifty Ends Below 11,950

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Market Check: Sensex Closes At Record High; Nifty Ends Below 11,950

Indian equity benchmark—S&P BSE Sensex—closed at record high.

The 31-share Index rose 0.4 percent to end at an all-time high at 40,301.96, surpassing the previous record closing high of 40,267.62. The NSE Nifty 50 rose 0.43 percent to end at 11,941.30. Both the benchmark indices extended gains for the seventh consecutive trading session, their longest stretch of gains in over seven months.

The broader markets represented by the NSE Nifty 500 index rose 0.29 percent.

The market breadth was tilted in favour of buyers. About 1,047 stocks advanced and 741 shares declined on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 2.84 percent gain. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 3.34 percent.

Jindal Steel & Power Jumps The Most In Nearly Two Years

Shares of Jindal Steel & Power rose as much as 14.6 percent, the most since January 2018, to Rs 141.30

“The company bids highest for Gare Palma IV/1 coal Mines at Rs 230 per tonne,” CNBC-TV18 reported quoting unnamed sources.

Trading volume was more than three times its 20-day average, Bloomberg data showed.

Large Trade Alert: Welspun Corp

About 1.49 crore shares of Welspun Corp changed hands in three large trades, Bloomberg data showed. Buyers and sellers were not known immediately.

Stocks Reacting To Results Announcement

Can Fin Homes (Q2, YoY)

  • Stock rose as much as 6.8 percent to Rs 433.
  • Net interest income up 19.2 percent to Rs 155.5 crore.
  • Net profit up 19.8 percent to Rs 97.6 crore.

HT Media (Q2, YoY)

  • Stock fell as much as 7.8 percent to Rs 17.65.
  • Revenue up 0.6 percent to Rs 520.5 crore.
  • Net loss at Rs 24.5 crore versus net loss of Rs 47.7 crore.
  • Ebitda at Rs 21.6 crore versus Ebidta Loss of Rs 19.5 crore.
  • Exceptional loss of Rs 24 crore in the base quarter.

Fab Four Stocks Of The Day

Relaxo Footwears

  • Stock rose as much as 15.5 percent to hit an all-time high at Rs 629.
  • Revenue up 14 percent to Rs 621.77 crore.
  • Net Profit up 79 percent to Rs 70.54 crore.
  • Ebitda up 42 percent to Rs 104.71 crore.
  • Margin at 16.84 percent versus 13.54 percent.
  • Tax expense at Rs 3.76 crore Rs 23.55 crore.

Indiabulls Real Estate

  • Stock hit an upper circuit of 5 percent at Rs 60.80.
  • Company’s wholly owned subsidiary has divested it entire stake in Century Limited to Clivedale Overseas Limited, an entity owned by the Promoters of the Company. With this Century Limited ceases to be a subsidiary of the Company. A consideration of 200 million pounds would be received in tranches.

JSW Energy

  • Stock rose as much as 9.3 percent to Rs 76.85.
  • Brokerage and research firm Kotak Securities updated the stock rating to ‘Add’ from ‘Reduce’ with a price target of Rs 80.
  • Potential value accretive acquisition and declining fuel costs will aid the company, Kotak Securities said.

CESC

  • Stock rose as much as 4.3 percent to Rs 834.65.
  • Fresh long seen with high OI of 15 percent.
  • Trading volume was two times its 20-day average.

Market Check: Sensex Set For A Record Close; Nifty Tests 11,950

Indian equity benchmark—S&P BSE Sensex—is set for a record close.

The 31-share index rose 0.44 percent to 40,343 and the NSE Nifty 50 rose 0.5 percent to 11,950. The broader markets represented by the NSE Nifty 500 Index rose 0.39 percent.

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