Wednesday, 17 January 2018

Sensex Hits 35K; Nifty Bank Hits New All-Time High

Posted by suhani varma on Wednesday, January 17, 2018 with No comments



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Equity benchmarks remained strong in afternoon, with the Sensex hit 35,000 level for the first time. The Nifty Bank hit fresh all-time high led by PSU banks after government reduced requirement of additional borrowing for the year and early resolution to Bhushan Steel case.

the BSE Sensex was trading at 35,039, up 268 points, while the broader Nifty50 index was ruling at 10,774, up 74 points.

Shares of Bharat Heavy Electricals recovered losses after the company said it has received an order worth Rs28 bn to set up a 660-MW coal-based thermal power unit at Jalgaon, Maharashtra.

Shares of Zee Entertainment Enterprises were weak after the company reported consolidated net profit of Rs3.2 bn for the quarter ended December, below analyst expectations of Rs3.64 bn.

MCX slipped over 5% after the company posted a 35.6% fall in consolidated net profit at Rs18.8cr for the December quarter over the previous quarter ended September 30, 2017, on lower volumes in the bullion segment.

The BSE Mid-cap and BSE Small-cap indices were up 0.60% and 0.35%, respectively.

Volatility index India VIX slipped 2.32%.

Some of the buying sectors seen in IT, pharma, bank, metal, FMCG, auto and financial services, while media sector is losing sheen on the NSE.

SBI (+3.8%), Aurobindo (+3%), Axis Bank (+2.9%), Infosys (+2.5%) and Yes Bank (+2.2%) were the top gainers on Nifty50.

Zee (-2.8%), Wipro (-1.9%), Hero MotoCorp (-1.4%), Infratel (-1.3%) and Ambuja (-1.2%) were the top losers in today’s trade.

Out of 2,012 stocks traded on the NSE, 818 advanced, 893 declined and 301 remained unchanged today.

A total of 65 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.

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