Indian stock market to remain shut today on account of Mahavir Jayanti
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are closed for trading purposes on April 17, 2019 (Wednesday) on account of Mahavir Jayanti.
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are closed for trading purposes on April 17, 2019 (Wednesday) on account of Mahavir Jayanti. All wholesale commodity markets, including metal and bullion, will also remain closed on the day. There will be no trade in forex and commodity futures markets too. On Tuesday, during the trading session, Nifty50 and BSE Sensex touched their record highs of 11,810.95 and 39,364.34, respectively. At the closing hours of the market, the Sensex surged 369.80 points to 39275.64, while Nifty rallied 96.80 points to 11787.20.
On April 15 major gainers were ICICI Bank, IndusInd Bank, Titan Company were among the Nifty, while Wipro, Cipla, Tata Motors and Infosys were among the losers. Indian benchmark equity indices Sensex and Nifty Tuesday scaled new life-time closing highs as investors remained in an intense buying mode for fourth session in a row on "near-normal" monsoon forecast and bumper corporate earnings optimism.
Sectorally, among the top performers were BSE bankex, rising 1.62 per cent, finance 1.08 per cent, consumer durables 1.16 per cent and telecom 1.03 per cent. In the broader market, BSE largecap, midcap and smallcap indices underperformed the benchmark Sensex. However, the market breadth was tilted in favour of sellers as 1,298 stocks declined and 1,277 gained.
"Market rallied to a new high supported by optimism over quarter earnings and positive global market. A better monsoon outlook from IMD provided relief to investors, who are keen on earnings outcome to accumulate quality stocks despite election led volatility," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.
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Elsewhere in Asia, markets in Japan, China and Korea ended on a positive note. In Europe, bourses in Germany, France and the UK were trading in the positive terrain in early deals. Global crude oil benchmark Brent futures fell 0.11 per cent to USD 71.10 per barrel. The Indian rupee meanwhile weakened by 18 paise to close at 69.60 against the US dollar Tuesday amid strengthening of the American currency and high crude oil prices.
Shares of Tata Consultancy Services (TCS) have risen over 6 per cent in the last two trading sessions, after the company reported 17.7 per cent growth in consolidated net profit for March 2019 quarter. Meanwhile, IT firm Wipro Tuesday reported a 38.4 per cent rise in net profit at Rs 2,493.9 crore for the March 2019 quarter and also announced a Rs 10,500 crore buyback programme. The earnings numbers came after market hours.
Foreign institutional investors (FIIs) purchased equities worth Rs 1,038.58 crore on Tuesday and domestic institutional investors (DIIs) bought shares to the tune of Rs 37.22 crore, provisional data available with stock exchanges showed.
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