Last hour surge helps Sensex close 300 points higher, Nifty just below 10,950

The Sensex managed to hold on to 36,000-mark that it reclaimed in the opening tick, while the Nifty has managed to end around 10,950-mark. 

The Sensex is up 304.90 points or 0.85% at 36239.62, while the Nifty is up 94.40 points or 0.87% at 10947.30. The market breadth was positive as 1,652 shares advanced, against a decline of 968 shares, while 153 shares were unchanged.

All sectoral indices have ended in the green, with big gains seen in auto, energy, metals as well as PSU banks that surged the most. The Nifty Midcap index is higher by around a percent. 

Reliance Industries, Wipro, GAIL and Hindalco were the top gainers, while IndusInd Bank, Sun Pharma, HPCL and IOC lost the most. 

Market Update Benchmarks have extended gains in the last hour of trade. The Sensex is up over 300 points, while the Nifty is advancing towards 10,950.

The Sensex is up 304.78 points or 0.85% at 36239.50, while the Nifty is up 96.30 points or 0.89% at 10949.20. The market breadth is positive as 1606 shares advanced, against a decline of 931 shares, while 133 shares are unchanged. 

European shares edged higher on Tuesday as global markets extended their recovery rally with investors putting trade war worries on the back burner for now as attention turned to a corporate earnings season expected to deliver solid results.

The pan-European STOXX 600 index rose 0.1 percent by 0730 GMT, set for its sixth straight day of gains as strong commodities sectors continued to support the market.

Oil stocks were the biggest boost to the index, up 0.9 percent as crude prices climbed on concerns over potential supply shortages.

Disappointing results caused some of the most eye-catching falls in early trading.

Shares in interdealer broker TP ICAP sank as much as 30 percent, hitting a two-year low after the firm announced its CEO would depart and cut its synergy targets for 2019, blaming Brexit-related costs. 

Buzzing stock: Shares of Petronet LNG gained over 1.5 percent intraday on Tuesday as Deutsche Bank maintained a buy call on the stock with a target of Rs 310.

The global financial services firm said that it is confident that there is limited threat of competition for Dahej terminal. It also observed that regas margins at this plant are lowest due to capex costs. 

Going forward, it expects demand growth from industrial sector as recovery in this space picks up speed. 

Results Private sector lender, IndusInd Bank, has reported a net profit of Rs 1,035.7 crore for the quarter ended on June 30, 2018. The profit has risen 24 percent from Rs 836.5 crore that it posted during the quarter last year. 

The bank reported a net interest income (NII) of Rs 2,122.4 crore. The bank had previously reported the figure at Rs 1,774 crore during the corresponding quarter last year, a rise of 20 percent for the quarter. 

On the asset quality front, the net non-performing assets (NPAs) ratio has been unchanged at 0.51 percent quarter on quarter. The overall net NPA figure stood at Rs 762.3 crore against Rs 745.7 crore quarter on quarter.  

Meanwhile gross NPA ratio has fallen to 1.15 percent against 1.17 percent from the previous quarter.  The overall gross NPAs stood at Rs 1,740.6 crore against Rs 1,705 crore. 

The bank saw some increase in provisions to Rs 350 crore against Rs 310 crore year on year, while on a QoQ basis, it rose from Rs 335.5 crore. Its capital adequacy ratio stood at 14.7 percent versus 15 percent QoQ.  

Nava Bharat Ventures share price rallied more than 5 percent intraday on Tuesday after the company expects strong profits from its Zambia project.

Its subsidiary Nava Bharat (Singapore) Pte Ltd holds 65 percent equity stake in Maamba Collieries (MCL), Zambia.

MCL has two power units of 150 MW each in Coal Fired Power Plant (Phase-I) at Maamba. "These Zambia units operate at 100 percent plant availability factor," GRK Prasad, Executive Director, Nava Bharat Ventures told CNBC-TV18.

Market Update: Equity benchmarks on Tuesday were trading higher in the afternoon, with the Sensex holding on to its 200-point gain, while the Nifty was trading well above 10,900-mark. 

The Sensex is up 236.27 points or 0.66% at 36170.99, while the Nifty is up 70.40 points or 0.65% at 10923.30. The market breadth is positive as 1567 shares advanced, against a decline of 762 shares, while 132 shares are unchanged.

Wipro, Reliance, and Hindalco are the top gainers, while Sun Pharma, Kotak Mahindra and HPCL lost the most.  

Bonus issue Share price of Cheviot Company added 4 percent as company approved issue of bonus shares.

A board of directors of the company at its meeting held today has recommended issuance of bonus shares in the ratio of 1 fully-paid up bonus ordinary share for every existing 2 fully paid-up ordinary shares of face value of Rs 10 each held by the shareholders of the company.

The bonus issue subject to approval of the members at the ensuing annual general meeting.

Buzzing: Shares of Prakash Industries rose 5 percent as company reported strong numbers in the quarter ended June 2018 (Q1FY19).

The company Q1 net profit jumped 184 percent at Rs 168.7 crore against Rs 59.4 crore in the same quarter last fiscal.

Revenue of the company was up 51 percent at Rs 985.4 crore versus Rs 650.5 crore.

The operating profit or EBITDA was up 33 percent at Rs 240.3 crore and margin was up 780 bps at 24.4 percent.   

Tata Motors group sales numbers: Tata Motors June group wholesales up 12 percent at 1 lakh units. It global JLR wholesales was at 37,490 units.

At 11:54 hrs Tata Motors was quoting at Rs 275.10, up Rs 1.75, or 0.64 percent.

Buzzing: Share price of Steel Strips Wheels added more than 4 percent as company bagged largest exports order from USA.

The company has bagged its largest exports order for truck & trailer aftermarket from USA.

The said order comprises supplies of 1,10,000 truck steel wheels in 5 months from its Chennai plant from next month onwards.

Market Update: Market Update The market has continued to trade strong on Tuesday morning, with the Sensex rising over 200 points and holding on to 36,000-mark, while the Nifty is well above 10,900-level as well.

The Sensex is up 213.26 points or 0.59% at 36147.98, and the Nifty up 61.90 points or 0.57% at 10914.80. The market breadth is positive as 1514 shares have advanced, against a decline of 623 shares, while 103 shares were unchanged.

Reliance Industries, Axis Bank, Tech Mahindra and Hindalco are the top gainers, while Kotak Mahindra Bank, Sun Pharma, and HPCL are the top losers.  

Buzzing stock: Shares of Tata Consultancy Services (TCS) were higher around a percent ahead of its results which will be declared in the day. 

The stock has touched an intraday high of Rs 1,900.00 and an intraday low of Rs 1,872.60.

In the quarter ended March 31, TCS reported above company-average growth in all its verticals except BFSI, but CEO Rajesh Gopinathan had said the company was more “optimistic” about the vertical in this financial year.

Analysts will watch for commentary on the demand outlook for calendar 2018 budgets, especially for BFS.

Market Update: The market has extended its gains, with the Sensex gaining over 200 points, while the Nifty is trading well above 10,-00-mark.

The market breadth is positive as 1223 shares advanced, against a decline of 468 shares, while 80 shares were unchanged.

Reliance Industries, Yes Bank, HCL Technologies and UPL are the top gainers, while Sun Pharma, Kotak Mahindra Bank, and HPCL have lost the most. 

Buzzing stock: Shares of Dish TV India added over 1 percent in the opening trade on Tuesday as company reported profit for the quarter ended June 2018 (Q1FY19).

The company's Q1 consolidated net profit was at Rs 27.87 crore against loss of Rs 11.67 crore in the same quarter last fiscal.

Revenue was at Rs 1,655.6 crore against Rs 738.88 crore.

Buzzing stock Shares of HCL Technologies were trading higher by 4 percent on Tuesday morning as investors reacted to the news of buyback by the firm.

"A meeting of the board of directors of the company is scheduled to be held on July 12 to consider a proposal for buy-back of the equity shares of the company," the IT services company said in its filing.

The share buyback was in accordance with the applicable provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998, it added.

Last month, its peers Tata Consultancy Services also announced a mega Rs 16,000 crore share buyback while Infosys completed its Rs 13,000-crore share buyback last year.

Buzzing stock Shares of HCL Technologies were trading higher by 4 percent on Tuesday morning as investors reacted to the news of buyback by the firm. 

"A meeting of the board of directors of the company is scheduled to be held on July 12 to consider a proposal for buy-back of the equity shares of the company," the IT services company said in its filing. 

The share buyback was in accordance with the applicable provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998, it added. 

Last month, its peers Tata Consultancy Services also announced a mega Rs 16,000 crore share buyback while Infosys completed its Rs 13,000-crore share buyback last year. 

Market Opens: Equity benchmarks have begun the day on a strong note, with the Sensex conquering 36,000-mark in the opening tick, while the Nifty is just short of 10,900.

At 09:16 hrs IST, the Sensex is up 112.11 points at 36046.83, while the Nifty is up 30.80 points at 10883.70. The market breadth is positive as 480 shares advanced, against a decline of 148 shares, while 46 shares are unchanged. 

All sectoral indices are trading in the green, with maximum gains visible among PSU banks. IT, pharmaceuticals and energy indices on the Nifty have followed suit. The Nifty Midcap index is also up around half a percent. 

ONGC, State Bank of India, and HCL Tech are the top gainers, while TCS, Asian Paints and Bharti Infratel have lost the most. 

Market Outlook by ICICI Securities: Equity benchmarks extended gains over second consecutive session as the Nifty concluded the session at 10853, up 80 points or 0.75 percent. Broader markets outperformed as the Nifty midcap and small cap rallied 1.6 percent and 1.7 percent, respectively. Sectorally, all indices ended in green led by bank, metal and pharma stocks.

The price action formed a long bull candle (compared to previous session) with lower shadow, indicating elevated buying demand. The index has registered a decisive close above upper band of last three weeks’ key hurdle of 10850 (on a closing basis), thereby confirming a breakout from bullish Triple Bottom pattern at the major value area of 10550 region. Going ahead, we expect the index to trade with a positive bias and extend the current up move towards 10930. In the coming sessions, the Nifty is likely to open on a positive note. However, any intraday cool off towards 10870 should be used as an incremental buying opportunity, which would assist Nifty to head towards 10930, as it is confluence of:

Rupee opens: The Indian rupee opened flat at 68.72 per dollar on Tuesday versus 68.72 yesterday.

The dollar-rupee July contract on the NSE was at 68.86 in the previous session. July contract open interest increased 2.40 percent in the previous day, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added

Market pre-opening: Pre-opening trades indicate a positive start to the Sensex and Nifty. The Sensex is hovering near 36,000-mark, while the Nifty is well above 10,900-mark.

At 09:03 hrs IST, the Sensex is up 23.39 points or 0.07% at 35958.11, and the Nifty up 94.90 points or 0.87% at 10947.80.

Good morning. Welcome to the live coverage of all the action from D-Street on Moneycontrol. Stay tuned to this live blog to get all the updates, news and views from the market in India and around the world.