Market updates: Sensex hits record high and Nifty trading above12050 today
Sensex and Nifty today: Today Sensex and Nifty opened in green and extended its early gains in the end. The global indiction was positive in the morning helped Nifty to close above 12050 levels. The Bank Nifty which was opened marginally down in the morning also gained today.
At close, Nifty gained 159.35 points and closed at 12073.75 while Sensex gained 529.82 points and close at 40,889.23. The Bank Nifty which was negative in the early trade gained 444.30 points and closed at 31555.90.
Sensex and Nifty gainers and losers today
The top five gainers in Sensex stocks are Bharti Airtel, Tata Steel, IndusInd Bank, Axis Bank, and Vedanta. The losers in the Sensex index today are ONGC and Yes Bank.
The Nifty midcap 100 index gained 193.35 points or 1.15% and closed at 17,061. Whereas the nifty smallcap index was up 42.95 points or 0.75% and closed at 5744.60.
The gainers in Nifty midcap space are AB Capital, Jindal Steel and the losers are Reliance Infra, IDBI Bank. The gainers in the smallcap space are DCM Sriram, Himadri Special and the losers are UCO Bank, RITES.
Among the sectors, almost all the major sectors end in green expect the Media, Industrial gas and Textile ends in red. FIIs bought Rs 960.9 crore and DIIs sold Rs 213.66 crore in the cash segment today.
Factors that influenced Sensex and Nifty today
First and the foremost factor that helped to boost the market sentiment is the hopes of the US-China trade deal news. As per the report, the phase one trade agreement signing is almost in the final stage. And this would end the 2 years old trade war between the two largest economies.
Other factors are, continues inflow of funds by both FIIs and DIIs, short-covering due to expiry and positive global market.
Sensex and Nifty stocks today in the news
Ashoka Bulidcon received a Letter of Award (LOA) for the project of 4 lanes of NH-161 in Telangana from NHHAI. The share price of Ashoka Buildcon gained 3.59% and closed at Rs 96.55 per share.
Unichem Laboratories gets USFDA approval for Atenolol Tablets USP. The share price of Unichem Lab gained 11.70% and closed at Rs 170.85 per share
JMC projects received Rs 615 crore orders for institutional and commercial building projects in East and South India. Despite the positive news the share price of the JMC project fell 1.50% and closed at Rs 101.65 per share.
Inox Wind gets the Solar Energy Corporation of India Ltd(SECI) extension to commission 550 MW wind projects in Gujarat. The share price of Inox Wind gained 15.76% and closed at Rs 37.10 per share.
ITD Cementation has got an order worth Rs 3400 crore from various government entities. The share price of ITD Cementation locked at an upper circuit and closed at Rs 65.95 per share
Bharti Airtel gains in the morning on the news that the company along with Vodafone Idea had filled applications in the supreme court for the review on the judgment on Adjusted Gross Revenue (AGR). The share price of Bharti Airtel gained 7.31% and closed at Rs 451.40 per share.
Stocks gains on rating
The rating agency CARE has revised the rating of GATI on the bank facilities and fixed deposits of the company. The share price of GATI gained 5% and closed at Rs 61 per share.
The rating agency CARE has revised the short term bank facilities of Dish TV. This is including a Letter of credit, bank guarantee, term loan, and an overdraft. Worth Rs 850 crore from CARE A3+ to CARE A4+. The share price of DIsh TV gained 1.56% and closed at Rs 16.25 per share.
The Foreign Brokerage house Morgan Stanley upgraded the DLF stock from equal-weight to overweight and also raised the target price from Rs 201 to Rs 269 per share. The share price of DLF gained 1.43% and closed at Rs 220.35 per share
Crude and Rupee update
.Crude Oil price gains in the morning today on the hope that the US and China could soon sign the trade deal and end the 18 months-long trade war. The Brent Crude oil price in the future is currently trading at $62.25 almost 0.18% down. The Indian Rupee closed at Rs 71.71 against the US dollar.
Conclusions:
The Indian stock market is gaining because of the hopes in the US-China Trade deal signing and FIIs inflow. Today, Sensex hits a new record high and Nifty is also near to the all-time high. Traders should follow the global market and can also follow our Nifty and Bank Nifty trading views for tomorrow
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