Profit

Bull Run Continues, Sensex Surges To Record High, Nifty Near 9,400

Nifty was seen racing towards never seen levels of 9,400 on the back of broad-based buying interest.

 Share
EMAIL
PRINT
COMMENTS
Bull Run Continues, Sensex Surges To Record High, Nifty Near 9,400

Mid-cap and small-cap shares were also witnessing good buying interest.


Highlights

  1. Sensex has been consolidating for about a fortnight
  2. Analysts say the next level to watch for Nifty is 9500
  3. FMCG, healthcare stocks among the top gainers today
Sensex and Nifty hit record highs on the back of broad-based buying interest after a fortnight of consolidation. The gains were led by buying in bluechip shares such as Reliance Industries, ITC, HDFC, Hindustan Unilever and HDFC Bank. On the sectoral front, buying was visible across the board with FMCG, consumer durables, capital goods, auto, oil & gas and power indices up between 0.6 and 1 per cent each. The mid-cap and small-cap shares were witnessing good buying interest as both the indices were up close to a per cent each.

Here are the latest stock market updates:

10:33 am: Shares of InterGlobe Aviation fell 2.46 per cent to Rs 1,112 after owner of IndiGo, said net profit fell to Rs. 440 crore in the quarter ended March 31, from Rs. 584 crore a year ago, as fuel costs jumped 71 per cent over the same period.

10:29 am: The overall market breadth was positive as 1,501 shares were advancing while 710 were declining on the BSE.

10:23 am: NLC India was the top gainer from the mid-cap space, up 5 per cent at Rs 108. GSK Consumer Products, Emami, ABB, Indian Hotels, Piramal Enterprises, M&M Financial Services and Adani Enterprices were also among the gainers.

10:00 am: From the Nifty basket of shares, 40 were advancing while 10 were declining.

9:45 am: Stock markets extend gains, Sensex rallies 195 points to 30,128 and Nifty gains 51 points to hit intraday high of 9,370.

9:25 am: From the Nifty basket of shares, 38 were advancing while 13 were declining. Hindustan Unilever was the top Nifty gainer, up 2.34 per cent at Rs 974. Mahindra & Mahindra, Kotak Mahindra Bank, Aurobindo Pharma, Tech Mahindra, Eicher Motors, Bosch and Grasim Industries were also among the gainers. On the other hand, Indiabulls Housing Finance, Wipro, Bharti Airtel, TCS, Bharti Infratel and UltraTech Cement were among the losers.

8:55 am: Shares of Interglobe Aviation will be in focus after InterGlobe Aviation Ltd, owner of IndiGo, said net profit fell to Rs. 440 crore in the quarter ended March 31, from Rs. 584 crore a year ago, as fuel costs jumped 71 per cent over the same period.

8:33 am: Bharti Airtel will be in focus today after company post the market hours on Tuesday reported a 69 per cent drop in March quarter profit, missing Street expectations as a price war launched by new comer Reliance Jio last year weighed on its earnings.

Bharti Airtel's consolidated net profit fell to Rs. 471 crore in the three months to March 31, 2017 from Rs. 1,529 crore a year ago, Bharti said in a statement on Tuesday. Analysts on an average had estimated its net profit at Rs. 528 crore, according to Thomson Reuters data.

8:30 am: Back home, foreign institutional investors bought shares worth Rs 333 crore on Tuesday and domestic institutional investors bought shares worth Rs 17 crore.

8:27 am: Other Asian markets were trading on a mixed note with Japan's Nikkei down 0.49 per cent, China's Shanghai Composite flat with a gain of 0.03 per cent and Hong Kong's Hang Seng rising 0.56 per cent. Rising tensions over North Korea's nuclear programme were some of the concerns that the global investors were cautious about.

8:25 am: The S&P 500 fell on Tuesday after edging up to an intra-day record high for the second straight session, while Apple became the first U.S. company to close with a market capitalization above $800 billion.

Better-than-expected quarterly earnings from U.S. companies and Emmanuel Macron's victory in the French presidential election on Sunday have given investors confidence, but valuations for U.s. stocks are already higher than average.

The hope that U.S. President Donald Trump will cut corporate and personal taxes remained in focus for investors.

(With inputs from Thomson Reuters)
 


Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top