Monday, 30 October 2017

RIL, HDFC Bank Help Sensex, Nifty End At Fresh Record Closing High

Posted by suhani varma on Monday, October 30, 2017 with No comments


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It was a day of broader markets as the Midcap and Smallcap indices rallied more than 1 percent on Monday, though equity benchmarks ended at fresh record closing high, supported by index heavyweights Reliance Industries and HDFC Bank.

The 30-share BSE Sensex rose 108.94 points to 33,266.16 and the 50-share NSE Nifty gained 40.70 points at 10,363.70.

The market breadth was strong as about two shares advanced for every share falling on the NSE.


Lupin rallied 9 percent intraday but came off day’s high to close with 2.5 percent gains as the company expects US pricing pressure to continue, though maintained full year guidance. The reason for 9 percent rally was that its Q2 earnings were weak but were better-than-expected.

HDFC was up 0.4 percent post stable earnings and asset quality while Tata Steel was down 1.2 percent ahead of earnings later today.

Bharti Airtel rose 1.6 percent as Bharti Telecom will buy 4.62 percent stake in country's largest telecom operator from Indian Continent Investment. Its subsidiary Bharti Infratel rallied 2.66 percent ahead of earnings later today.

ONGC gained 1.4 percent after earnings, and Brent crude crossed USD 60 a barrel. Jet Airways rallied nearly 9 percent and InterGlobe Aviation gained nearly 2 percent despite increase in Brent crude oil prices.

ICICI Bank ended 0.2 percent lower as investors digested better asset quality performance of the bank.

Yes Bank rebounded 2.5 percent, after 7 percent fall seen in previous session due to bad asset quality performance in Q2.

Among others, Reliance Industries, HDFC Bank and Tata Motors leading contributors, up around 1.5 percent whereas ITC, HUL and HCL Technologies were down 1.5-2 percent.

After second quarter earnings, Marico and Tata Metaliks were up 1-2 percent; SPARC rallied 15 percent but Wockhardt fell 2.4 percent.Oil India, Escorts, Titan Company, Bata, Just Dial, DHFL, Delta Corp, NBCC, Punj Lloyd, Tata Global, Crompton Consumer and Tata Coffee gained 2-7 percent.

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