Market highlights: Sensex ends 300 points higher, Nifty settles at 10,947, BSE MidCap gains over 1%, TCS falls ahead of Q1 results

LIC cannot hold 51% in IDBI Bank forever, says IRDA member Nilesh Sathe##LIC cannot hold 51% in IDBI Bank forever, says IRDA member Nilesh Sathe

Market Close: Sensex, Nifty close at 5-month high##Market Close: Sensex, Nifty close at 5-month high

Indian benchmark indexes closed at five-month high on Tuesday, sustaining gains through the day, tracking positive global cues. The Sensex ended at 36,239.62, gaining 304.90 points, or higher by 85 percent. The Nifty settled at 10,947.25, rising by 94.35 points, or 0.87 percent. Shares of Reliance, Wipro, Yes Bank, Baja Auto, Tata Steel, HDFC gained, while IndusInd Bank, Kotak Bank, Sun Pharma, Hero MotoCorp fell. TCS declined ahead of the June earnings result later today.BSE MidCap gained over a percent, while Nifty MidCap rose by 0.72 percent.

IDBI Bank moves sharply higher##IDBI Bank moves sharply higher

Market at day's high, Sensex rises over 300 points##Market at day's high, Sensex rises over 300 points

Indian markets touched advanced higher ahead of the close on Tuesday with the Sensex rising over 300 points, or 0.84 percent, to 36,234.79, while the Nifty rose by 93.45 points, or 0.86 percent, to 10,946.35. Both indexes look set for closing in the green. Reliance Industries advanced over 3 percent, supported by gains in Coal India, Yes Bank, Bajaj Auto, Wipro, Tata Steel, NTPC, Axis Bank, HDFC twins, Maruti Suzuki India, NTPC, while IndusInd Bank, Kotak Bank, Hero MotoCorp, Sun Pharma, TCS, HUL traded lower.

Exide surges to 52-week high##Exide surges to 52-week high

Market update: Sensex, Nifty hold on to gains##Market update: Sensex, Nifty hold on to gains

Indian benchmark indexes slipped from five-month high in the afternoon trade, holding on to gains before the closing session. The Sensex traded higher by 228.62 points, or rising 0.64 percent, to 36,163.34, while the broader Nifty hovered around 10,920 level, gaining 66.70 points, or 0.61 percent. BSE MidCap traded higher by 0.79 percent, while Nifty MidCap was up by 0.57 percent. Index heavweight Reliance Industries gained 2.72 percent, while Tata Steel rose by over 2 percent. Other gainers include Coal India, Wipro, NTPC, Gail. IndusInd Bank shares traded lower by over a percent after Q1 results today. Other laggards include HPCL, Sun Pharma, Kotak Mahindra, Lupin, Hero MotoCorp. TCS also traded lower by nearly half a percent ahead of its June earnings results later in the day. Nifty Metal and PSU Bank along with Realty were among top sectoral indices gainers. Nifty Pharma and Media trade in the negative zone. On the BSE, sectoral indices gaining over a percent included Realty, Metal, Utilities, Telecom, Energy, Basic Materials.    

Market update: Sensex, Nifty consolidate gains##Market update: Sensex, Nifty consolidate gains

The Sensex trades higher by 252.65 points, or 0.70 percent higher, to 36,187.37, while the Nifty rose by 79 points, or 0.73 percent, to 10,932.

IndusInd Bank June-quarter net profit surges 24%##IndusInd Bank June-quarter net profit surges 24%

Shares of IndusInd Bank were trading lower by 0.34 percent at Rs 1948 on Tuesday on the BSE at 1.33pm after the company announced its Q1 earnings.  IndusInd Bank Ltd reported a 24 percent jump in its first-quarter net profit on Tuesday, driven by higher interest income. Net profit climbed to Rs 1,036 crore in the three months to June 30 from Rs 837 crore a year earlier, the country’s sixth-largest private sector lender by assets said in a statement.

Gross bad loans as a percentage of total loans stood at 1.15 percent at end-June, compared with 1.17 percent in the previous quarter and 1.09 percent a year earlier. Interest earned by the bank, which is part of the Hinduja Group, jumped 22.6 percent to Rs 5,068 crore. 

The Sensex rose by 218 points, or 0.61 percent, to 36,153.12, while the Nifty added 69 points, or 0.63 percent, to trade at 10,921.60.

IndusIndBank reports Q1 earnings at Rs 1,035.7 crore##IndusIndBank reports Q1 earnings at Rs 1,035.7 crore

NMDC increases price for Iron ore lumps, other news updates##NMDC increases price for Iron ore lumps, other news updates

United Bank to consider employee share purchase scheme on July 13.

Nava Bharat Ventures says can achieve $60 m worth of annual profits from Zambia Project, have 65% stake in Zambia project. Looking at selling assets in Odisha & AP.

Aviation Secy says want aviation turbine fuel to come under GST, and have discussed lowering GST rates on MRO services with finance secretary.

NMDC increases prices for Iron Ore lumps, fines by Rs 150/Tonne.

Sykmet says Mumbai currently India's rainiest place##Sykmet says Mumbai currently India's rainiest place

Sykmet says Mumbai currently India's rainiest place. In the last 24 hours, Santacruz recorded 184 mm rainfall and Colaba 166 mm, followed by the Union Territory Diu at 144 mm, Mahabaleshwar at 124 mm and Alibag 112 mm. In the last 24 hours, Jammu received 95 mm of rainfall, Kottayam in Kerala 84 mm and Valpurai in Karnataka 83 mm, it said. 

Want ATF under GST, says aviation secretary##Want ATF under GST, says aviation secretary

Popularity of stock no guarantee of its investment performance, says Raamdeo Agrawal##Popularity of stock no guarantee of its investment performance, says Raamdeo Agrawal

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Investments should be chosen on the basis of value, and not popularity: That's the advice coming in from market expert Raamdeo Agrawal, who's the co-founder of brokerage Motilal Oswal Financial Services. In a letter to investors (read full text here), Agrawal shared some interesting tips on how to evaluate a stock's performance in the case of extreme price movement and how to assess its place in one's portfolio.

Market update: Sensex trims gains, Nifty PSU Bank up by 1.36%##Market update: Sensex trims gains, Nifty PSU Bank up by 1.36%

The BSE Sensex trimmed gains after rising to its five-month high level in the afternoon trade. The Sensex was trading higher by 244.78 points, or 0.68 percent higher, to 36,179.50, while the Nifty added 71.85 points, rising by 0.66 percent, to 10,924.75 at 12.31pm. Gainers include Idea cellular, Hindalco, Tata Steel, Bajaj AUto, Wipro, Reliance, Axis Bank, while the laggards were Sun Pharma, Kotak Mahindra, HPCL, Dr Reddys Labs, Lupin, Hero MotoCorp, Hindustan Unilever. Nifty PSU Bank is trading higher by 1.36 percent led by SBI, Bank of Baroda, Indian Bank, Andhra Bank.

SBI shares gain over a percent##SBI shares gain over a percent

Shares of State Bank of India (SBI) rose 1.38 percent to Rs 264.95. It has touched an intraday high of 265.50 and low of 262.10 so far. According to a Business Standard report, SBI is looking to raise $500 million through maiden green bonds. SBI was involved in making investor calls throughout Monday and will make decision on size and pricing of the issuance after getting a commitment, the report added. Green bonds are regular bonds, the proceeds of which are used to fund sustainable projects and attract lower coupon than regular bonds. SBI is planning to raise $3 billion in green bonds, according to the report.