Sensex up over 400 points, Nifty ends a tad below 11,700


Market at Close: What a cracker of a Monday that was for the market! Bulls had it their way throughout the session, gaining with every passing hour. Benchmarks ended the day at record high levels. The Nifty managed to clock 11,700-mark as well. 

Positive global cues also supported the rally as investors took note of cues coming in from Jackson Hole symposium. Jerome Powell, the US Fed Chair, has hinted at slow, but steady rate hikes ahead on the back of strong economic growth in the US as well. Along with it, likely easing tensions and softening of dollar helped the indices end well above key milestones. 
Banks led the gainers’ chart as intense buying was visible across the financials space.  The Bank Nifty and Nifty PSU bank index were one of the top gainers. Additionally, metals, too, were one of the strong gainers, up over 1.5 percent. Other gainers included auto, FMCG, infrastructure and IT as well. In the broader markets, midcaps saw very good upmove. The Nifty Midcap index rose over a percent. The rupee, meanwhile, hovered around 70.01 levels.
At the close of market hours, the Sensex ended up 442.31 points or 1.16% at 38694.11, while the Nifty rose 134.90 points or 1.17% at 11692.00. The market breadth is positive as 1,431 shares advanced, against a decline of 1,282 shares, while 207 shares were unchanged.
Bharti Airtel, Power Grid Corporation, and Hindalco were the top gainers, while Sun Pharma and Bajaj Finserv lost the most. 
Earnings: RITES has registered 18.5 percent jump in its June quarter (Q1FY19) net profit at Rs 82 crore against Rs 69 crore, in the same quarter last fiscal.
Revenue was down 6.2 percent at Rs 310 crore against Rs 330.4 crore.
The operating profit or EBITDA shed 12.6 percent at Rs 69.7 crore, while margin was down at 22.5 percent.
Buzzing: Share price of Duke Offshore locked at 20 percent upper circuit on Monday as company has bagged two high speed crew transfer contracts with an international company operating in India.
The 1st contract starts on October 15, 2018 and 2nd on October 21, 2018
There were pending buy orders of 26,200 shares, with no sellers available.
At 13:20 hrs Duke Offshore was quoting at Rs 45, up Rs 7.50, or 20 percent on the BSE.
Loan Settlement: Punj Lloyd said the company is in advanced stages of settlement process with most lenders on board. "Significant majority has given the approval for resolution plan. Resolution process took longer on delay in appointment of official credit rating agency."
Acquisition: State-owned NBCC is the frontrunner in buying 100 percent stake in Hospital Services Consultancy Corporation (HSCC), the strategic divestment by the government, reports CNBC-TV18 quoting government officials.
The announcement on NBCC-HSCC is likely in the next few days and Rs 200-250 crore may accrue to government from the deal.
IRCON too has bid for 100 percent government's stake in HSCC.
Market Update: A further rise in banks as well as metals has strengthened the market. The Sensex is currently trading over 400 points higher, while the Nifty is up over 100 points as well. Bank Nifty and PSU banks are leading the charts, followed by metals, IT, and infrastructure. The Nifty Midcap index is also up over 1 percent. Pharmaceuticals is the only laggard for the session so far.  
The Sensex is up 406.70 points or 1.06% at 38658.50, while the Nifty is up 116.70 points or 1.01% at 11673.80. The market breadth is positive as 1,458 shares advanced, against a decline of 979 shares, while 164 shares were unchanged.
ICICI Bank, Power Grid, and Hindalco were the top gainers, while Sun Pharma, and Bharti Infratel have lost the most. 
Market Update: It’s a strong trading day for the market on this Monday morning, with benchmarks clinching fresh record highs. The Sensex is up over 350 points, while the Nifty has hit 11,650 as well. 
Buying counters were buzzing the most among banks as well as metals, along with FMCG, infrastructure, IT and pharmaceuticals, among others. Midcaps, too, added to the gain, with the Nifty Midcap index surging almost a percent. Strong global cues are also helping D-Street.  
At 09:50 hrs IST, the Sensex is up 350.21 points or 0.92% at 38602.01, and the Nifty up 99.30 points or 0.86% at 11656.40. The market breadth is positive as 1,273 shares advanced, against a decline of 512 shares, while 116 shares were unchanged.
Among shares, Future Retail is up 3 percent on report of Paytm, Google eyeing 7-10% stake in the firm, while RIL is up 1 percent on buzz of Jio becoming second largest telco by revenue market share. 
RIL gains 1%: Shares of Reliance Industries rose 1 percent on Monday morning as investors cheered good revenue data for its telecom business, Reliance Jio. The stock has also hit a fresh 52-week high. 
The stock touched an intraday high of Rs 1,291.85 and an intraday low of Rs 1,280.00.
According to a report in The Economic Times, the firm is now the second-largest company by revenue market share. It has now pipped Vodafone India. 
The report further added that strong performance in rural mobile markets and competitive pricing aided the performance. 
The company’s revenue market share (RMS) rose to 22.4 percent for the June quarter, the publication reported, citing data from the telecom regulator. 
Future Retail soars 6%: Shares of Future Retail soared 6 percent on Monday morning as investors reacted to a report that Google and Paytm were looking to buy stake worth Rs 3,500-4,000 crore in the firm.
The stock touched an intraday high of Rs 552.00 and an intraday low of Rs 540.00.
According to a report in The Economic Times, the internet giant and e-wallet major are likely to form a consortium to buy 7-10 percent stake in Future Retail. This more puts the group in competition against Amazon, which has also reportedly submitted a term sheet to buy the same stake in the firm, the publication reported, citing sources.
Market opens: It’s a good start to this Monday morning on D-Street as equities rode on positive global sentiment. The Sensex and Nifty have hit fresh record highs. The 50-share index is also trading above 11,600.
Banks and metals are leading the charts among sectoral indices, while pharmaceuticals, FMCG and infrastructure are following them. There is strong growth in midcaps seen as well, with the Nifty Midcap gaining around a percent. 
The Sensex is up 204.70 points or 0.54% at 38456.50, while the Nifty is up 62.60 points or 0.54% at 11619.70. The market breadth is positive as 447 shares advanced, against a decline of 120 shares, while 61 shares were unchanged.
State Bank of India, Yes Bank, and Hindalco are the top gainers, while Wipro, TCS, and Bharti Infratel have lost the most. 
Rupee opens:The Indian rupee gained in the opening trade on Monday. It has opened higher by 15 paise at 69.76 per dollar versus 69.91 Friday.
On Friday, Rupee rose following weakness in the dollar against its major crosses and ahead Fed chairman statement at the Jackson Hole Symposium. In the recent past, rupee has been under pressure primarily on back of global factors than domestic factors, said Motilal Oswal.
Broad dollar strength has been one of the major factors that led to weakness in major Asian currencies and rupee has been one of the weakest of the pack. Data released by RBI showed FX reserves for the week ended August 24 remained more or less unchanged compared to previous week at USD 400.84 billion.
Market at pre-open: It is likely to be a good start to the Monday morning as pre-opening rates point to a positive opening. 
At 09:01 hrs IST, the Sensex is up 122.34 points or 0.32% at 38374.14, while the Nifty is up 94.10 points or 0.81% at 11651.20.