Sensex Finishes Flat in Final Hour Sell Off; HDFC Twins Surge

Indian share markets witnessed selling pressure in the final hour of trade but still closed at a record high for a third straight session.

At the closing bell, the BSE Sensex and the NSE Nifty finished flat. The S&P BSE Mid Cap finished down by 0.6% while & S&P BSE Small Cap finished down by 0.5%. Gains were largely seen in bank stocks, and capital goods stocks.

HDFC share price, HDFC Bank share price and Asian Paints share price are major gainers with gains to the tune of 5.8%, 2.2% and 1.3% respectively.

Meanwhile, software stocks finished in red. TCS share price finished down by 2.8% while Infosys share price fell 2.2%.

Asian stock markets finished higher today with shares in Hong Kong leading the region. The Hang Seng is up 0.71% while Japan's Nikkei 225 is up 0.15% and China's Shanghai Composite is up 0.06%. European markets are mixed today. The CAC 40 is up 0.38% while the FTSE 100 gains 0.06%. The DAX is off 0.58%.

The rupee was trading at Rs 64.12 against the US$ in the afternoon session. Oil prices were trading at US$ 48.8 at the time of writing.

Yes Bank share price continued its upward momentum and surged 4.3% in today's trade.

In news from IPO segment, Cochin Shipyard is coming out with a 100% book building; initial public offering (IPO) of 3,39,84,000 shares of Rs 10 each in a price band Rs 424-432 per equity share. The issue will open for subscription on August 1, 2017 and will close on August 3, 2017. The shares will be listed on BSE as well as NSE.

Read the complete Indian stock market update. For the terms of use, go here.

Nifty Ends Above 10,000; Yes Bank Surges 6% on Strong Q1 Result

Share markets in India ended the day higher with Nifty50 settling above the 10,000-mark for the first time. At the closing bell, the BSE Sensex closed higher by 154 points. While, the NSE Nifty finished higher by 56 points. Meanwhile, the S&P BSE Midcap Index and the S&P BSE Small Cap Index ended up by 0.2% & 0.3% respectively.

Barring information technology stocks all sectoral indices finished the day on in green with metal sector and capital goods sector witnessing maximum buying interest.

Overseas, Asian equity markets finished higher today after Wall Street indexes notched record highs. The Nikkei 225gained 0.48% while Hong Kong's Hang Seng ended up by 0.33% and China's Shanghai Composite was higher 0.12%. European markets are higher today with shares in France leading the region. The CAC 40 is up 0.64% while London's FTSE 100 is up 0.61% and Germany's DAX is up 0.38%.

The rupee was trading at Rs 64.42 against the US$ in the afternoon session. Oil prices were trading at US$ 46.83 at the time of writing.

Bank stocks closed the day on a mixed note with Yes Bank and South Indian Bank leading the gains. Yes Bank share price rose over 6.1% after it reported a 32% rise in quarterly profit, beating estimates, helped by higher interest and fee income.

Read the complete Indian stock market update. For the terms of use, go here.

Sensex & Nifty Hit Record Highs; Are Stocks Expensive Now?

Share markets in India continued their upward climb in afternoon trade. At the closing bell, the BSE Sensex closed higher by 217 points. While, the NSE Nifty finished higher by 51 points. Meanwhile, the S&P BSE Midcap Index and the S&P BSE Small Cap Index both ended up by 0.3%.

Barring metal stocks, healthcare stocks and realty stocks, all sectoral indices finished the day in green with information technology sector and FMCG sector witnessing maximum buying interest.

Asian equity markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.53% and the Shanghai Composite rose 0.39%. The Nikkei 225 lost 0.62%. European shares fell today. The exporter-dominated German DAX index dropped 0.2%. The pan-European STOXX 600 index was down 0.1%, after falling 1% on Friday as the strong euro weighed on earnings.

The rupee was trading at Rs 64.45 against the US$ in the afternoon session. Oil prices were trading at US$ 46.07 at the time of writing.

HDFC Bank share price surged 2% on reporting 20.2% increase in its net profit for the June quarter due to higher net interest income and other income. Net profit for the quarter increased to Rs 38.94 billion from Rs 32.39 billion a year ago.

Pharma stocks closed the day on a mixed note with Dishman Pharma and Orchid Pharma Ltd leading the gains. Lupin share price surged 2% before finishing the day on a flat note after it was reported that the company received final approval for its Fluocinonide Topical Solution USP, 0.05% from the United States Food and Drug Administration (USFDA).

Read the complete Indian stock market update. For the terms of use, go here.

Sensex Reclaims 32,000 Level; Wipro, RIL Top Gainers

Indian share markets edged higher in the afternoon session and finished the trading day on a firm note. At the closing bell, the BSE Sensex stood higher by 124 points, while the NSE Nifty finished up by 42 points. The S&P BSE Mid Capfinished flat while & S&P BSE Small Cap finished down by 0.1%. Gains were largely seen in software stocks, oil & gas stocks and consumer durables stocks.

Shares of broadcasting firms, Cable TV providers and telecom companies fell after Mukesh Ambani said Reliance Jio will offer made-in-India phones at no effective cost. The phones will feature free voice calls, affordable Internet data and cable to connect to TV.

Dish TV India share price fell 5.9%, while Sun TV Network share price and Hathway Cable & Datacom Ltd share pricefinished down by 3.5% respectively on the BSE.

Reliance Jio Infocomm Ltd will effectively give away the phone to users against a fully refundable security deposit of Rs 1,500 which will be returned in three years. JioPhone customers will not have to pay for voice charges and will have access to unlimited data for Rs 153 a month. The Jio board also approved raising another Rs 200 billion through a rights issue.

Telecom stocks plunged in today's trade with Bharti Airtel share price falling 2.2%, while Idea share price slumped 3.3%.

Meanwhile, Reliance Industries share price surged 3.7%.

Asian stock markets finished lower today with shares in Japan leading the region. The Nikkei 225 is down 0.22% while China's Shanghai Composite is off 0.21% and Hong Kong's Hang Seng is lower by 0.13%. European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.28% while Germany's DAX is up 0.07% and France's CAC 40 is up 0.01%.

The rupee was trading at Rs 64.31 against the US$ in the afternoon session. Oil prices were trading at US$ 47.12 at the time of writing.

Read the complete Indian stock market update. For the terms of use, go here.

Sensex Ends Flat; Mindtree Slumps Over 4%

Indian share markets lost their growing momentum and finished marginally lower in the afternoon session. At the closing bell, the BSE Sensex stood lower by 51 points, while the NSE Nifty finished down by 26 points. The S&P BSE Mid Cap finished down by 0.5% while & S&P BSE Small Cap finished up by 0.2%. Losses were largely seen in metal stocks, software stocks and pharma stocks.

Asian stock markets finished higher today with shares in Japan leading the region. The Nikkei 225 is up 0.62% while China's Shanghai Composite is up 0.43% and Hong Kong's Hang Seng is up 0.26%. European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.59% while France's CAC 40 is up 0.49% and Germany's DAX is up 0.44%.

The rupee was trading at Rs 64.42 against the US$ in the afternoon session. Oil prices were trading at US$ 47.3 at the time of writing.

Kotak Mahindra Bank share price finished the trading day down by 1.4% on the BSE.

Moving on to news from oil & gas stocks. The government has approved explorer Oil and Natural Gas Corp's (ONGC) plan to buy its 51.1% stake in state-refiner Hindustan Petroleum Corp Ltd (HPCL).

As per The Economic Times, ONGC will be exempted from making an open offer to other shareholders of HPCL in the transaction, which is expected to be completed in a year. More such integration of oil companies is in the offing.

Read the complete Indian stock market update. For the terms of use, go here.

Sensex Finishes Deep in the Red; ITC falls 12.6%

Indian share markets continued to witness selling pressure in the afternoon session amid weak international markets. At the closing bell, the BSE Sensex stood lower by 364 points, while the NSE Nifty finished down by 89 points. Meanwhile, both the S&P BSE Mid Cap & S&P BSE Small Cap indices finished down by 0.6%. Losses were largely seen in FMCG stocks, realty stocks, and oil & gas stocks.

Cigarette stocks continued to plunge in today's trade with ITC share price finishing down by 12.6% while Godfrey Philips share price and VST Industries share price plunged 5.7% and 7.8% respectively.

ITC erased nearly Rs 500 billion in market value, after many brokerages downgraded the stock and cut their target prices as the government increased cess on cigarettes.

Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.35% and the Hang Seng rose 0.21%. The Nikkei 225 lost 0.59%. European markets are mixed. The FTSE 100 is higher by 0.01%, while the DAX is leading the CAC 40 lower. They are down 0.53% and 0.18% respectively.

The rupee was trading at Rs 64.33 against the US$ in the afternoon session. Oil prices were trading at US$ 46.17 at the time of writing.

Read the complete Indian stock market update. For the terms of use, go here.