Nifty scales lifetime high to end above 9,300, Sensex closes in on 30,000-mark

Mumbai: Benchmark Nifty closed above the 9,300-mark for the first time in its history Tuesday, while the Sensex soared 287 points to a three-week high on widespread buying, spurred by strong results and upbeat global cues.

The 50-share Nifty rallied 88.65 points, or 0.96 percent, to reach its new lifetime closing high of 9,306.60, surpassing the previous record close of 9,265.15 on 5 April.

Intra-day, it surged to 9,309.20, breaking its previous intra-day record of 9,273.90 reached on 5 April.

The BSE 30-share Sensex surged 287 points to end at a three-week high of 29,943.24, after shuttling between 29,961.82 and 29,780.84. The gauge had gained 290.54 points yesterday.

NSE Building - PTI_380

Reuters

This is the highest closing for Sensex since 5 April, when it had ended on 29,974.24.

Brokers said a string of strong quarterly earnings, including from index heavyweight RIL, and appreciating rupee accelerated buying activity.

The rupee ended at 64.26 against the dollar, up 18 paise.

Asian shares ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election.

"Earnings from both private as well as public sector has shown encouraging signs, lifting banking stocks, while Nifty's surge to 9,300 gave added vigour to market.

"Governments push in the infra and affordable housing space has also kept housing, cement and realty stocks buzzing, said Anand James, Chief Market Strategist, Geojit Financial Services.

Meanwhile, domestic funds bought shares worth a net Rs 984.17 crore yesterday, while foreign portfolio investors (FPIs) sold stocks worth a net Rs 279.55 crore, as per provisional data from the stock exchanges.

Shares of Reliance Industries rose 1.14 percent after the company yesterday posted a record fourth quarter net profit of Rs 8,046 crore.

Globally, key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan rose by 0.16 - 1.31 percent.

European stocks were trading higher, extending previous day's gains, as investors monitored political developments in France ahead of the European Central Bank's policy meeting later in the week. Key indices in France, Germany and UK rose by 0.03 - 0.18 percent.

US markets rallied yesterday as concerns over France's potential exit from the euro currency block eased. The Dow Jones Industrial Average jumped 216.13 points to close at 20,763.89. The S&P 500 surged 25.46 points to 2,374.15.

Back home, out of the 30-share Sensex pack, 24 scrips ended higher.

Major gainers were M&M (3.40 percent), Axis Bank (3.40 percent), Bharti Airtel (3.18 percent), Hero Motoco (2.93 percent), Asian Paints (2.40 percent), HUL (2.13 percent), ITC (1.79 percent), Power Grid (1.44 percent), Dr Reddy's (1.43 percent), ICICI Bank (1.43 percent), Bajaj Auto (1.30 percent), HDFC (1.14 percent) and Reliance (1.14 percent).

However, TCS fell 0.76 percent, followed by Cipla 0.58 percent, Gail 0.39 percent and NTPC 0.30 percent.

Among BSE sectoral and industry indices, telecom rose 2.62 percent, FMCG 1.67 percent, realty 1.26 percent, oil & gas 1.23 percent, energy 1.20 percent, finance 1.18 percent, auto 1.15 percent and bankex 1.03 percent.

Broader markets too were in a better shape, with the BSE mid-cap index rising 1.06 percent and the small-cap index gaining 0.58 percent.

The market breadth remained positive as 1,467 stocks ended higher, 1,444 closed lower while 169 ruled steady.

The total turnover on BSE amounted to Rs 4,006.89 crore, lower than Rs 4,360.76 crore registered during the previous trading session.


Published Date: Apr 25, 2017 06:40 pm | Updated Date: Apr 25, 2017 06:40 pm


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