Sensex, Nifty scale fresh record high, Tata Steel surges 8%

The benchmark indices Sensex and Nifty logged modest gains on Wednesday’s trading led by auto, metal and capital goods stocks. The BSE Sensex rose 76.17 points or 0.25% at 30,658.77, while the Nifty50 index rose 5.75 points or 0.06% at 9,518. Both the Sensex and the Nifty knocked record high levels in late trade. Tata Steel, Tata Motors and ICICI Bank led the riley upward.

Losses were mainly seen in O&G stocks, pharma stocks and consumer durables stocks , while  auto stocks and metal stocks  registered majority of the buying activity. Tata Steel surged as much as 8 percent to Rs 494 after the metal major posted its better than expected earnings. The company’s revenue rose 30.4 percent to Rs 353.05 billion as the company sold more steel products in India.

Indian Oil Corporation is reportedly aiming to invest Rs 200 billion in 2017-18. The company is also looking forward to acquisitions and planning to expand overseas.

Asian stock markets were almost lower with Dow futures tumbling and the safe-haven yen rising despite political and legal chaos surrounding President Donald Trump. The Nikkei-225 index  is down 0.53 percent while China's Shanghai Composite is off 0.27%. European markets are mixed to lower.

The rupee was trading at Rs 64.02 versus the U.S. Dollar  in the afternoon session, while Oil prices were trading at  us dollar 48.71.

Sensex and Nifty close at record highs as IT, telecom stocks rise

Benchmark BSE Sensex closed at 30,582.60 higher by 260.48 points or 0.8% whereas  Nifty-50 closed at 9,512.25 higher by 66.85 points or 0.7%, on Tuesday backed by PSU banks, FMCG, auto and IT stocks.
Nifty PSU Bank index led the market rally in today’s trading session  gaining 2.4% during the trade, while the Nifty closed above 9,500 for the first time ever, Sensex closed above its psychological 30,500 mark. Reliance, SBI, ITC and TCS contributed 45% to the Nifty gains, with IOC and Indian Hotels being the prominent Nifty gainers.
ITC gained 2.2 percent to Rs 283.45, hitting a  high and low of  Rs 284.25 and 278.10  respectively, in intraday trade.  Auto stocks rose with  Hero MotoCorp gaining 3.2%, Eicher Motors went up 1.39%, Tata Motors rose 1.23%, Bajaj Auto went up  0.98% among others.
The market breadth was strong with  853 advancing stocks against 791 declining stocks  and 307 unchanged stocks on NSE.
The stock of Voltamp Transformers surged 8% as the company today reported a net profit at Rs 22.65 Cr, for the quarter ended March 2017, versus Rs 19.21 Cr, for the corresponding quarter of the last year.

Sensex, Nifty close lower, Asian Paints, Axis Bank biggest losers

The benchmark indices settled with small losses after a range-bound trade, since investors booked profits after indices scaled record highs yesterday, 11 May 2017. The BSE Sensex slid 62.83 points or 0.21% at 30,188.15, while the NSE Nifty-50 index fell 21.50 points or 0.23% at 9,400.90. The indices snapped 4-day winning streak today, 12 May 2017.
The BSE Mid-Cap index fell 0.69% and the Small-Cap index shed 0.8%. The declines in the indices were higher than Sensex's fall in percentage terms.
Bank stocks declined with SBI down 0.47%, Canara Bank dip 1.44%, Union Bank of India declined 1.82% among others.  Among private sector banks, Axis Bank down 2.69%, ICICI Bank fell 1.12%, IndusInd Bank down 1.06%), and Yes Bank declined 5.78% while HDFC Bank rose 0.14%.
Asian Paints dropped 2.81%, after company’s net profit rose 10.4% to Rs 462.22 crore on 8.9% rise in revenue.
Eicher Motors  Ltd fell about 1 percent  after rising for five consecutive sessions, while Ashok Leyland down 1.7% after two winning session’s  gains.  Shares of Reliance Infrastructure rose  the Delhi Airport Metro, won an arbitration case against Delhi Metro Rail Corpn.