Sensex Today: Sensex ends 254 points higher, Nifty at 11,109; Auto stocks rise

At the opening bell on Friday, S&P Sensex rose 200 points to 37,521.30 agaisnt the last close of 37,327 level and Nifty50 started at 11,087.90 compared to last close of 11,032, registering a rise of 176 points. 

Sensex Today: Benchmark Indices started broadly on a bullish note on back of positive global cues amid reports suggesting that Indian govt is likely to exempt foreign portfolio investors from an increase in taxes. Currently Sensex is trading at a rise of 244 points to 37,571 mark and Nifty trades at11,112, with a rise of 80 points.

Indian Rupee at the Interbank Forex Exchange opened midly higher at 70.50 against the dollar. Yesterday the domectic currency closed at 70.69 agains the American currency. 

Indiabulls Housing Finance shares rose over 8% and was among the top againer in bothe the indices after the housing finance company said in its regualtory filing that it has has made timely payment of interest / principal (as the case may be) in respect of 3 NCDs issued by our Company, on private placement basis.  

Share price of Suzlon Energy rises 12 % in today trade after the  solar energy firm in its regulatory filing said that it isn't aware of any action being contemplated by the bond holders nor can comment upon the intentions of the bondholders.The Company has also not received any communication in this regard and continues to work on holistic solution for its debt and is in discussions with various stakeholders in relation to its outstanding debt including the Bonds.  

Oil prices fell on Friday amid fears over demand as the U.S-China trade row casts its shadow over markets, although prices got some support from expectations of more OPEC production cuts. nternational benchmark Brent crude futures, were at $57.20 a barrel by 0324 GMT, down 18 cents, or 0.3%, from their previous settlement. (Reuters)

Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 437.39 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 291.29 crore on Thursday.  

Except IT and Pharma, all the other indicesa are trading in the green , backed bystrong buying interest seen in Financial, Media and Banking stocks.

Gold prices are on a continous rise, as an escalation in the Sino-U.S. trade dispute and fears of a global economic slowdown triggered fresh interest for safe-haven assets. MCX gold prices rise to 37,955 rupees per 10 grams, up 0.5 percent from previous close. Internationally, Spot gold was up 0.5% at $1,507.20 per ounce. Earlier this week, gold prices surpassed $1,500 level for the first since April 2013.The metal has risen 4.6% so far this week, on track for its best week in more than three years.

-Later today, Industrial output data will come which will show the pace of production activity. -Government is scheduled to meet FPI’s today at 4 PM. -The private sector bank -YES Bank is going to raise funds through qualified institutional placement (QIP) today.

Rupee started the day with gain of 15 paise to 70.55, although trades near 70.52, down by 0.24%. India’s rupee is headed for its worst week this year amid a worsening U.S.-China trade war  

Spot Gold trades near 1,502.83, at a rise of 1.88 points or 0.13% Gold has risen more than 17% so far this year, and sprinted more than $100 over the past week, propelled by trade tensions and an increasingly dovish monetary policy shift by central banks amid fears of slowing growth.  

Share price of Adani Ent. opened on Friday with a gain of 2.72% and later touched an intraday high of Rs 135.60, at a rise of 3.75%. The share price has risen  6.80% in the last 2 days. Adani Enterprises (AEL) on Thursday reported over 3-fold jump in its consolidated net profit at Rs 601.20 crore for the first quarter ended June 30, 2019. This includes one-time income of Rs 328 crore recognised in mine developer and operator (MDO) business. Consolidated revenue from operations increased by 39.74 per cent to Rs 10,561.37 crore in April-June quarter of the current fiscal as against Rs 7,557.78 crore in the year-ago period,while the company's EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) jumped 85 per cent to Rs 896 crore in Q1FY20 versus Rs 484 crore in Q1FY19.

 

Shares of Dewan Housing Finance Corp climbed over 4 per cent in Friday's trade after the company in an update to stock exchanges said it is working towards resolving its liquidity crisis in a comprehensive and timely manner, even as it may fail to meet its immediate payment obligations.

The NBFC said it has formulated and submitted a draft resolution plan to the lenders. While most of the lenders have executed the ICA, one of the debenture-trustees, namely, Catalyst Trusteeship Services, is undertaking the process of seeking consent from the debenture holders to be a party to the ICA, the company told BSE.

India's second-biggest software services firm, Infosys Ltd is trying to push for higher margins as it is targeting to earn half its revenue from the company's digital portfolio which is its fast-growing vertical, as stated by its chief executive Salil Parekh.

"Our stated objective is to have a high margin business. There is no question on that," Parekh told the Economic Times in an interview. However, he refused to spill the beans on the timeline of achieving 50% revenue from Infosys' digital technology solutions.

Sensex Today: Benchmark Indices trade broadly on a bullish note on back of positive global cues coupled with reports suggesting that Indian govt is likely to exempt foreign portfolio investors from an increase in taxes. Currently Sensex has risen 462 points to 37,781 level and Nifty trades 144 points up at 11,177.