On Thursday, the Indian broad market index BSE Sensex hit fresh all-time high and crossed the mark of 38,000 for the first time. This rally was led by banking majors such as ICICI Bank, SBI and Axis Bank. We at DSIJ had predicted this level way back in April.

With the reduction in interest rate during last couple of years due to refinance of debt in 9 SPVs out of 11 operational SPVs, the company has seen finance costs reducing by Rs. 30 crore yoy. Now this along with healthy growth in traffic volume has led to increase in cash profits by Rs. 59 crore yoy, jumps by 223.54 per cent.

Following stocks are close to their 52-week low as at 12.39 p.m. on August 9, 2018.

The markets on August 9, 2018 opened gap up. BSE Sensex is trading at 38,042.46, up by 154.90 points and the Nifty is trading at 11,480.45, up by 30.45 points. 

The benchmark index BSE Sensex is trading above the 38,000 level as private banks join the upward rally fueled by good quarterly earnings and positive vibes emanating from the Indian economy. We at DSIJ had predicted this level way back in April.

Overall volumes in futures & options currently stand at 97.18 lakh contracts with a turnover of Rs. 9,93,827.11 crore.

The PAT for the quarter came in at Rs. 204 crore as against Rs. 163 crore in the corresponding quarter last year, yoy increase of 25 per cent. During the quarter, the company has secured new orders amounting to Rs. 2,840.7 crore.

Overall volumes in futures & options currently stand at 97.18 lakh contracts with a turnover of Rs. 9,93,827.11 crore.

Trent Limited reported mixed numbers for the quarter with strong  top-line growth and flattish bottom-line.

Going ahead, there is a likelihood that we may see momentum continuing in the index, but we cannot ignore the overbought nature of the index. In the coming session, the levels of 11,500 and 11,525 may play out as immediate resistances. Stocks in news: Pidilite Industries, Corporation Bank, Mastek and HCL Technologies.