LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Market ends at fresh high for 3rd day in a row; Nifty hits 10,900 for 1st time

The Nifty PSU Bank (up 2.2 per cent) was the leading sectoral gainer, followed by Nifty Bank (up 1.4 per cent) and Nifty Financial Services (up 1.1 per cent).

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Market ends at fresh high for 3rd day in a row; Nifty hits 10,900 for 1st time
Among individual stocks, Indiabulls Housing Finance, Adani Ports and Bajaj Finance were the top gainers on Nifty and rallied up to 4 per cent on the NSE. Image source:
Written By: ZeeBiz WebTeam
Updated: Fri, Jan 19, 2018
03:48 pm
ZeeBiz WebDesk
RELATED NEWS
Stock Market Outlook: Nifty, Bank Nifty support range REVEALED; Anil Singhvi says global cues, corona cases and FIIs data will be crucial Stock Market Outlook: Nifty, Bank Nifty support range REVEALED; Anil Singhvi says global cues, corona cases and FIIs data will be crucial
Mid Cap Picks with Anil Singhvi: Bombay Burmah, Fine Organic and Gujarat Alkalies are Jay Thakkar's top recommendations Mid Cap Picks with Anil Singhvi: Bombay Burmah, Fine Organic and Gujarat Alkalies are Jay Thakkar's top recommendations
 In chat with Anil Singhvi, analyst Vikas Sethi recommends Divi’s Lab, Wipro as top buys for BIG GAINS In chat with Anil Singhvi, analyst Vikas Sethi recommends Divi’s Lab, Wipro as top buys for BIG GAINS
ACC, Ambuja Cements, JK Lakshmi Cement – invest at these levels to MAXIMISE gains, expert says ACC, Ambuja Cements, JK Lakshmi Cement – invest at these levels to MAXIMISE gains, expert says
SIP Stock with Anil Singhvi: Gujarat Ambuja Exports available at attractive valuations; Market Guru says growth outlook STRONG SIP Stock with Anil Singhvi: Gujarat Ambuja Exports available at attractive valuations; Market Guru says growth outlook STRONG

Extending its record run for the third straight session, the benchmark indices settled at fresh closing highs, led by gains in banking stocks amid improved investor sentiment after the government decided to cut tax rates on certain products and services.

The rates have been lowered after revenues dipped following the rollout of Goods and Services Tax (GST) in July. Taxes on goods including used motor vehicles and precious stones, and services relating to mining and oil exploration, are among those that will be reduced from January 25.

The S&P BSE Sensex ended at 35,511, up 251.29 points, while the broader Nifty50 closed at 10,894, up 77.70 points. In intraday trade, the Sensex rallied as much as 282 points to hit its fresh high of 35260.29, while Nifty50 briefly surged above its crucial 10,900 in last leg of trade. 

In the broader market, the BSE Midcap and the BSE Smallcap indices rallied 0.7 per cent and 0.8 per cent, respectively. 

"Government’s decision to cut GST rate for few more items and a good start to earnings season added energy in the market. Market is anticipating a sea change in the earnings with a growth of 15-20% in PAT led by revamp in businesses and low base effect. Moreover, positive trend in global market and drop in crude prices influenced buying pattern," said Vinod Nair, Head of Research, Geojit Financial Services.

The Nifty PSU Bank (up 2.2 per cent) was the leading sectoral gainer, followed by Nifty Bank (up 1.4 per cent) and Nifty Financial Services (up 1.1 per cent). 

Among individual stocks, Indiabulls Housing Finance, Adani Ports and Bajaj Finance were the top gainers on Nifty and rallied up to 4 per cent on the NSE. 

Reliance Industries gained over 1 per cent to Rs 929 ahead of its December quarter earnings scheduled for later in the day. Dhananjay Sinha, Head, Institutional Research at Emkay, said, "For RIL, we expect slight correction in GRM qoq to $11.7/bbl (v/s $12/bbl in Q2FY18). Petrochem margins overall is expected to remain stable while some volume uptick is expected due to ROGC ramping up. Our standalone net profit estimate for Q3FY18 stands at Rs 8,500 crore, up by 3% qoq."

Biocon rose as much as 4.5 per cent after it announced a tie-up with Sandoz.

Cyient climbed as much as 7.1 per cent after its third-quarter consolidated revenue rose.

Bharti Airtel slipped as much as 2.3 per cent after it posted a smaller-than-expected quarterly net profit. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
MarketsSensexNiftyrecord highAdani PortsIndiabulls Housing FinanceBanking StocksfinancialsRIL
RELATED NEWS
Stock Market Outlook: Nifty, Bank Nifty support range REVEALED; Anil Singhvi says global cues, corona cases and FIIs data will be crucial Stock Market Outlook: Nifty, Bank Nifty support range REVEALED; Anil Singhvi says global cues, corona cases and FIIs data will be crucial
Mid Cap Picks with Anil Singhvi: Bombay Burmah, Fine Organic and Gujarat Alkalies are Jay Thakkar's top recommendations Mid Cap Picks with Anil Singhvi: Bombay Burmah, Fine Organic and Gujarat Alkalies are Jay Thakkar's top recommendations
 In chat with Anil Singhvi, analyst Vikas Sethi recommends Divi’s Lab, Wipro as top buys for BIG GAINS In chat with Anil Singhvi, analyst Vikas Sethi recommends Divi’s Lab, Wipro as top buys for BIG GAINS
ACC, Ambuja Cements, JK Lakshmi Cement – invest at these levels to MAXIMISE gains, expert says ACC, Ambuja Cements, JK Lakshmi Cement – invest at these levels to MAXIMISE gains, expert says
SIP Stock with Anil Singhvi: Gujarat Ambuja Exports available at attractive valuations; Market Guru says growth outlook STRONG SIP Stock with Anil Singhvi: Gujarat Ambuja Exports available at attractive valuations; Market Guru says growth outlook STRONG

LATEST NEWS

FD fraud: SBI issues alert for customers, says avoid THESE things or else you will lose money

7th pay Commission: This is what Centre said about pending DA installments; staffers to get it by 'this' month

$100 mn investment proposal in Hero Fincorp secured debt: What International Finance Corporation said?

CBSE exams 2021 cancellation demand: Board has big update for Class 10, 12 students

Stock Market Outlook: Nifty, Bank Nifty support range REVEALED; Anil Singhvi says global cues, corona cases and FIIs data will be crucial

Daily Covid-19 cases spike to new record, nears 1.5 lakh infection; Uddhav Thackeray calls all-party meet to review corona situation in Maharashtra

West Bengal election 2021: LIVE UPDATES! 75.93% voter turnout recorded till 5:24 pm; 4 people killed, 4 injured in firing incidents

NURECA Share Price hits 20% UPPER CIRCUIT: Know the reason WHY

Gold Price outlook, correction, resistance and target—EXPLAINED! This is what Experts say about yellow metal in near to medium term

Gold price: Resistance, support for MCX Gold REVEALED, check crucial levels

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved