Closing Bell! Stock Market closes at new record high; Sensex up almost 1000 points; Nifty above 17800 mark – banking and financials gained most
The Indian market Thursday closed at a record high level, Sensex jumps almost 1000 points, Nifty surged above 17800 level. The gain is mostly lead by banking an financial stocks along with Reliance Industries.
The Indian market Thursday closed at a record high level, Sensex jumps almost 1000 points, Nifty surged above 17800 level. The gain is mostly led by banking an financial stocks along with Reliance Industries.
The BSE Sensex spurted over 958 points or 1.63 per cent to 59,885.36, while Nifty gained over 276 points or 1.57 per cent to 17,822.95 at the close today. Similarly, the mid-cap index became the top gainer in the broader markets, surged by 446 points or 1.49 per cent to 30380.85 a close today.
See Zee Business Live TV Streaming Below:
Out of 50 scrips on Nifty50, 40 advanced, 10 declined at the market close on Thursday. Bajaj FInserve, Hindalco gained most in the record high market by over 4 per cent, followed by L&, Tata Motors, Coal India, HDFC, Axis Bank, and ONGC each surged over 3 per cent today.
While HDFC Life, Dr Reddy declined most around 1 per cent, followed by JSW Steel, Tata Consumer, ITC slipped marginally by around 0.5 per cent in otherwise positive market.
Almost all sectoral indices ended positive except for Nifty Media, which witnessed a profit booking. While Nifty Bank and Financial Services Indices helped the market to gain most today, both indices up by over 2 per cent. Similarly, the mid-cap index was propelled by Nifty Realty sector ended 8 per cent higher at the market close on Thursday.
02:10 pm - Reliance Industries hits new life high to Rs 2497 per share on the NSE, lifting the Nifty index most today.
01:45 pm: Sensex hit a new life high on Thursday, surges over 800 points, shys away 56 points to hit 59800-mark
01:30 pm - Sensex zooms 700 points! Top 4 factors that could be powering rally on D-Street
12:30 pm - Nifty Bank jumps over 2 per cent led by Axis Bank, ICIC Bank and SBI
12:10 pm - BSE Sensex continues its surge, as the index spurts over 700 points to 59,660 level intraday trade today.
11:55 am - Geojit Financial Services Chief Investment Strategist Dr. VK Vijayakumar —
“Bharti Airtel's rights issue at Rs 535 a share is attractively priced considering the current market price of around Rs 730. The recent telecom package declared by the government addresses most of the issues that the industry has been facing for some time now. India's telecom industry is now practically a duopoly with Ril Jio and Bharti Airtel dominating the industry.”
11:25 am - Dish TV in a filing to exchanges inform that the company has not received any communication from YES Bank for holding an EGM (Extraordinary General Meeting); stock up around 5 per cent.
11:10 am - Khimji Kunverji & Co LLP to replace Price Waterhouse as the new statutory auditors of IDFC. Price Waterhouse resigns as statutory auditors.
10:45 am - BSE Sensex extends gain, jumps over 600 points to 59,522 level almost hours after market open.
10:30 am - Tejas Networks bags order from Bharti Airtel to enhance the telecom company's optical network capacity in key markets; Tejas shares up 5 per cent
10:15 am - Financial heavyweight Bajaj Finserv breaches Rs 18000 per share level for the first time, stock jumps 3 per cent.
As many as 49 of 50 Nifty stocks open in the green today, with metal stocks surging most, as Hindalco became the showstopper up 2.27 per cent, followed by Tata Steel up around 2 per cent. While Adani Ports, ICICI Bank, and Coal India each gained over 1 per cent at the market open.
All sectoral indices opened in the green, with Nifty Metal surging most by over 1 per cent, followed by banking and financial stocks lifting the markets most. While Nifty Media is up around 1.5 per cent leading to a surge in the broader markets.
Mohit Nigam, Head - PMS, Hem Securities
“Indian Indices showing a range bound movement, but Mid- and small-cap stocks are back in action after a period of weakness in the month of July and August. We can see some more movement in mid and small cap segment as a catch-up rally after the recent under-performance compared to blue chips stocks. On the technical front, the market is witnessing a range-bound movement and it has sustained well above 17,400-450 levels and we believe this up move will extend till 17650 level in the short term. On the downside 17,200 is the immediate support in Nifty 50 followed by 16,900.”
Motilal Oswal’s Hemang Joshi —
*ZEEL-Sony Deal: Improving corporate governance and operation performance could aid in the long run significantly. There will be a long haul for deal fruition.
*Mphasis: Blink acquisition to expand UX capabilities of the company
*Aluminium price up 3 per cent - Hindalco and Nalco in focus
On the global front, the US markets on Wednesday ended with gains as the Federal Reserve Chairman indicates tapering with timelines in line with market expectations. Dow Jones closed higher by over 330 points while Nasdaq gains 150 points.
While Asian markets on Thursday opened in the green led by the Hang Seng as ‘Evergrande' repays its interest due on Thursday, the Japanese 'Nikkei' was closed today for a holiday while the South Korean 'Kospi' reopened after 3 days and saw minor cuts in early trade.
One of the important triggers to the Indian markets, Foreign Institutional Investors (FIIs) sold shares worth Rs 1943.26 crore in cash and bought Rs 1850.02 crore in index futures.
04:31 PM IST