Sensex Closes At Over 5-Month High, Nifty Settles At 10,947

NDTV Profit Team

10 Jul 2018, 04:19 PM IST

Reliance Industries was up 2.9 per cent, while HDFC rose 2 per cent.

The domestic stock market indices rose for a third straight session on Tuesday and posted their highest close in more than five months, since January 30, 2018. The S&P BSE Sensex rallied 304.90 points, or 0.85 per cent, to close at 36,239.62. The NSE's Nifty50 index surged 94.35 points or 0.87 per cent and settled at 10,947.25. Stock markets ended in green today, led by index heavyweights such as HDFC Bank Ltd and Reliance Industries Ltd. Sentiment got a boost on unabated buying by domestic institutional investors (DIIs) and a good set of corporate results so far, brokers said.

Major gainers in the Sensex pack were Reliance, Yes Bank, Wipro, Coal India, Bajaj Auto and Tata Steel, rising between 2.03 per cent to 3.05 per cent. Top laggards on the BSE index were Hindustan Unilever, TCS, Sun Pharma, Kotak Bank, Induslnd Bank and HeroMotoCorp, ending with losses between 0.45 per cent to 1.19 per cent.

GAIL, Hindalco, Reliance, Coal India and Bajaj Autro (rising between 2.69 per cent to 4.89 per cent) were leading the pack of Nifty gainers, while main losers on the index were Hindustan Petroleum, Indian Oil, Induslnd Bank, India Bull Housing Finance and Kotak Bank, ending with losses between 1.02 per cent to 1.70 per cent.

The Sensex and Nifty today remained above their key levels of 36,000 and 10,900 throughout the session, indicating robust investor optimism after a prolonged lacklustre spell.

"Most of the gains can be attributed to markets doing well globally. There may be some impact from weakening of the dollar as that may lead to some money coming back to emerging markets," Neeraj Dewan, Director at Quantum Securities said, adding that the market is expecting a good earnings season this quarter.

According to Viral Berawala, CIO, Essel Mutual Fund, "Strong global tailwinds are driving up local indices. Today is the second day of positive market breadth with most sectoral indices in the green."

Reliance Industries was up 2.9 per cent, while HDFC rose 2 per cent. IT stocks also climbed, with HCL Technologies Ltd rising as much as 3.5 per cent after the software services exporter said it will consider a buyback of its shares on Thursday.

Tata Consultancy Services Ltd, which is due to report its quarterly results later in the day, closed 0.4 per cent lower. Shares of Idea Cellular Ltd climbed on reports that Department of Telecommunications gave conditional nod to merge Vodafone's India business with Idea. (With Agencies inputs)