Sensex tops 35k-mark on sustained buying, Nifty above 10,700; Axis, RIL shares decline

Mumbai: The benchmark BSE Sensex reclaimed the 35,000-mark and Nifty went past 10,700 today on sustained buying by participants, driven by strong corporate earnings and positive global cues. The 30-share index again crossed the 35,000-mark by surging 228.73 points, or 0.65 percent, to trade at 35,198.43. The gauge had rallied 468.43 points in the previous two sessions. All the sectoral indices, led by IT, banking and tech, were trading in the positive zone with gains up to 1.89 percent. Similarly, the NSE Nifty reclaimed the 10,700-mark by climbing 62.70 points, or 0.58 percent, to 10,755. Prominent gainers include Yes Bank, Adani Ports, Wipro, Infosys, TCS, SBI, Kotak Bank, L&T, HDFC Bank, Sun Pharma, Bajaj Auto and Asian Paints, rising up to 2 percent. [caption id=“attachment_4437105” align=“alignleft” width=“380”]  Brokers watching movement of stocks. Reuters[/caption] Shares of Reliance Industries, however, fell 1.43 percent after it announced plans to shut oil and gas production at its main fields in KG-D6 block in the coming months and begin complying with the government’s guidelines for decommissioning facilities in the Bay of Bengal block where output has hit its lowest-ever. The company on Friday reported a 17.3 percent jump in its fourth quarter net profit on the back of robust petrochemicals margins and telecom arm Jio’s maiden profits. Axis Bank shares fell over 3 per cent on weak earnings declared last week, making it the biggest loser on Sensex. Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 633.71 crore, while foreign portfolio investors (FPIs) sold shares worth a net Rs 759.21 crore on Friday, provisional data showed. Among other Asian markets, Hong Kong’s Hang Seng was up 1.56 per cent. Financial markets in Japan and China were shut today for public holidays. The US Dow Jones Industrial Average ended 0.05 per cent lower in Friday’s trade.