Thursday 18 January 2018

Nifty Jumps Above 10,870 Mark; Yes Bank, HDFC Bank Stock Lead

Posted by suhani varma on Thursday, January 18, 2018 with No comments



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Equity benchmark indices rallied on Thursday led by gains in ICICI Bank, State Bank of India and HDFC Bank. The Sensex jumped over 330 points while the Nifty crossed the 10,800 mark for the first time in the opening trade.Benchmark indices jump-started the session at fresh lifetime highs tracking global markets and underpinned by gains in banks and fast moving consumer goods companies. Nifty Bank gained over 500 points after media report stated that the government is considering allowing 100% FDI in the banking sector.
the BSE Sensex was trading at 35,446, up 364 points, while the broader Nifty50 index was ruling at 10,879, up 90 points.

The Nifty PSU Bank index, up 1.8%, was the top gaining sectoral index, led by near 2% gains in shares of State Bank of India.

The Nifty FMCG index gained 0.8% led by near 2% gains in shares of Hindustan Unilever, as the company reported a higher-than-expected Oct-Dec net profit.

Shares of Emami Paper Mills rose 3% after L&T mutual fund bought 5.42% stake in the company through multiple block deals on the BSE.

Bharti Infratel stock slipped over 2.5% after the company posted 6% fall in consolidated net profit to Rs585cr for the December quarter of the current fiscal on higher costs.

The BSE Mid-cap and BSE Small-cap indices were up 0.48% and 0.97%, respectively.

Volatility index India VIX slipped 1.10% at 13.7150.

Yes Bank (+4%), UPL (+3%), HDFC Bank (+2.5%), IndusInd Bank (+2.3%) and HDFC (+1.9%) were the top gainers on Nifty50.

Infratel (-2.6%), GAIL (-1%), Infosys (-0.85%), Hindalco (-0.80%) and IOC (-0.78%) were the top losers in today’s trade.

Out of 2,006 stocks traded on the NSE, 1,248 advanced, 349 declined and 409 remained unchanged today.

A total of 54 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE.

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