Market Live: Nifty hits 10,100, Sensex touches 32,600 on F&O expiry, upbeat Q1 earnings

BSE Sensex and NSE Nifty trade at record highs. Photo: Mint

Mumbai: The benchmark BSE Sensex soared to a fresh life-time high of 32,646.21 and the NSE Nifty hit a new high of 10,106.75 on continued buying by investors driven by encouraging earnings by corporates amid positive global cues. Short-covering of bets, Thursday being the last session of July expiry in the derivatives segment, kept the sentiment upbeat. Rising for the second day in a row, the 30-share index rose by 150.88 points, or 0.46%, to hit a new peak of 32,533.34. The gauge had gained 154.19 points in the previous session to close at a record high at 32,382.46. It had also touched an intra-day lifetime high of 32,413.63.

Reflecting the overall trend, all the sectoral indices led by realty, bank, IT, technology and power were trading in the positive zone, with gains of up to 1.93%. The 50-share NSE Nifty gained 47.75 points, or 0.47%, to trade at its life-time high of 10,068.40. HCL stock climbed 3.20% to Rs920 after the company on Thursday reported a 6.1% rise in consolidated net profit at Rs2,171 crore for the first quarter ended June.

Major contributors to the indices were HDFC Ltd, Asian Paints, Maruti Suzuki, HDFC Bank, Hindustan Unilever, TCS, Hero MotoCorp, Bajaj Auto, Tata Motors, Axis Bank, M&M and Infosys, rising by up to 2.55%. Brokers said that the market mood remained buoyant, bolstered by domestic and foreign institutional investors’ buying coupled with better-than-expected Q1 earnings numbers posted by some blue-chip companies. Moreover, a firming trend overseas, especially the US markets which ended at record high on Wednesday with expectations for another US interest rate hike this year dented by a tepid Federal Reserve inflation outlook, too enthused investors.

■ 11.06am: BSE Sensex trades higher by 255 points, or 0.79%, to 32,638, while the Nifty 50 rises 85 points, or 0.85%, to 10,106.

■ 10.00am: Indiabulls Real Estate Ltd rose 7% to Rs239.60 after the company said it reported 29% increase in consolidated net profit at Rs152.56 crore for the quarter ended June and plans to raise up to Rs7,500 crore through issue of debentures on private placement basis.

■ 9.55am: ICICI Bank Ltd rose 0.7% to Rs 312.50 ahead of its Jun quarter earnings due later today. According to 20 Bloomberg analyst estimates, the bank may report a net profit of Rs2,001.50 crore.

■ 9.50am: Maruti Suzuki India Ltd rose 0.7% to Rs7,629 ahead of its Jun quarter earnings due later on Thursday. According to 20 Bloomberg analyst estimates, the company may post a net profit of Rs1,692.30 crore on revenue of Rs17,500.50 crore.

 9.40am: ITC Ltd 0.4% to Rs294.70 ahead of its Jun quarter earnings due later today. According to 12 Bloomberg analyst estimates, the company may post a net profit of Rs2,615 crore on revenue of Rs1,1807 crore.

■ 9.30am: Yes Bank rose 4% to Rs1,774.95 after the bank reported better then expected earnings. The bank reported a net profit of Rs965.52 crore, up 32% from previous close. Gross non-performing assets (NPAs) as a percentage of total advances stood at 0.97% in the quarter under review, compared to 0.79% in the year-ago quarter. In January-March quarter it was 1.52%

■ 9.25am: HCL Technologies Ltd rose 2% to Rs909. The company reported a 10.7% sequential fall in net profit at Rs2,210 crore for the June quarter. Revenue for the quarter rose 0.8% quarter-on-quarter to Rs12,149 crore.

■ 9.20am: L&T Finance Holdings Ltd rose 2.6% to Rs164.80 after it reported consolidated net profit growth of 49% at Rs. 309 crore for the three months to June driven by higher advances that clipped at 96.4 per cent and better asset quality.

■ 9.18am: HDFC rose 1.3% to Rs1,655. HDFC reported a 16.84% decline in its June quarter net profit to Rs1,566 crore. However, the 1,871 crore profit it recorded a year ago was boosted by a one-time gain of Rs697 crore.

■ 9.15am: The rupee opened at 64.21 a dollar and touched a high of 64.13, a level last seen on 17 May 2017. At 9.15am, the rupee was trading at 64.13 a dollar, up 0.37% from Wednesday’s close of 64.37.

■ 9.10am: The 10-year bond yield was at 6.444%, compared to its previous close of 6.43%. Bond yields and prices move in opposite directions.

■ 9.00am: Asian currencies were trading higher as dollar weakened after the US Federal Reserve indicated that a period of weak inflation continues and left rates on hold. South Korean won was up 0.81%, Taiwan dollar 0.52%, China renminbi 0.33%, Japanese yen 0.26%, Thai baht 0.24%, Malaysian ringgit 0.22%, Philippines peso 0.21%, Indonesian rupiah 0.2%, China offshore 0.17% and Singapore dollar 0.13%.