Twitter
Advertisement

Sensex adds to gains for 2nd day, Nifty hits 15-mth high

Sensex closed at 28,208.62, while Nifty shut at 8,666.30.

Latest News
article-main
BSE Sensex
FacebookTwitterWhatsappLinkedin

Stocks kept their winning run going for a second session as the BSE Sensex gained over 184 points to 28,208.62 -- a nearly one-year high -- on more positive signals on GST bill and improvement in corporate earnings. Besides, the broader NSE Nifty perked up by 50.50 points to touch a fresh 15-month high at 8,666.30.

Shares of Asian Paints hit record high after rising 6.14% to Rs 1,126.95 following 18.46% jump in consolidated net profit to Rs 552.56 crore. Automaker Maruti Suzuki India surged 4.47% to Rs 4,762.70 after it announced plans to have 250 Nexa outlets by March and said the premium sales and service outlets to contribute 15% of the company's sales by 2020.

The government meanwhile reached out to leaders of several opposition parties, including Congress and Samajwadi Party, over the contentious GST bill which is likely to be taken up by Rajya Sabha next week. Traders said covering-up of short positions on expiry of July series of derivative contracts and participants carrying positions to new series also boosted sentiment. "But low F&O rollovers suggest that sharp spikes recently may have prompted a wait-and-watch approach, especially with the outcome of both GST and RBI monetary policy out in less than a fortnight," said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.

After opening strong, the Sensex rose further to hit a high of 28,240.20 before settling 184.29 points or 0.66% higher at 28,208.62 -- its highest closing since August 7 when it had ended at 28,236.39. The 50-share Nifty after shuttling between 8,674.70 and 8,625.25, settled 50.50 points or 0.59% higher at 8,666.30. This is the highest closing since April 16 last year at 8,706.70.

Shares of Multi Commodities Exchange of India (MCX) rose 0.84% to Rs 1,068.30 after the government raised the foreign investment limit in stock exchanges to 15%. Overseas, the US Federal Reserve kept interest
rates at ultra-low level after the conclusion of a two-day monetary policy meeting on Wednesday. The ultra-loose policy is expected to encourage heavy investments into emerging markets.

Asian stocks ended largely lower with Japan's Nikkei falling by 1.13%, while other indices like China, Hong Kong, Singapore and South Korea moved down by 0.20% to 0.62%. European markets were mixed with London's FTSE falling 0.19%, Paris' CAC down 0.14% and Frankfurt up 0.02%. 

Back home, 14 stocks advanced out of the 30-share Sensex pack. Smart index movers included ITC 2.48%, Sun Pharma 1.99%, Power Grid 1.71%, TCS 1.53%, RIL 1.28%, Coal India 1.09%, SBI 1.01% and HDFC 0.97%. Key laggards were L&T 1.51%, Adani Ports 1.38%, Tata Steel 1.30%, Axis Bank 0.98%, Dr Reddy's 0.93% and Lupin 0.86%.

Among sectoral, consumer durables shot up by 2.30% followed by FMCG 1.50%, realty 0.95%, auto 0.81%, telecom 0.75%, utilities 0.66%, power 0.56% and energy 0.53%. However capital goods, metal, industrials and oil & gas ended up on the losing side. In broader markets, mid-cap and small-cap indices rose by 0.62% and 0.60%, respectively.

The market breadth turned positive as 1,486 stocks ended higher, 1,164 declined, while 228 ruled unchanged. The total turnover rose to Rs 4,042.79 crore from Rs 3,487.26 crore on Wednesday.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement