Moneycontrol
Last Updated : Jul 27, 2018 05:47 PM IST | Source: Moneycontrol.com

An evening walk down Dalal Street | Sensex, Nifty, Bank indices end at record closing high

ITC, Tata Motors, and IOC were the top gainers, while HUL, Adani Ports, Dr Reddy’s Laboratories and Bajaj Finserv were the top losers.

Moneycontrol News @moneycontrolcom

‘Thank God it’s Friday’ indeed has been the case for D-Street as traders carried on strong momentum all through the week on Friday as well. The Sensex, Nifty and Bank Nifty managed to end the week at record closing highs. In fact, it is the 21st time in 2018 that the index managed to clock this milestone, while the Nifty has achieved it for the 15th time.

With this upmove, the Sensex has hit a record high in 8 out of past 12 sessions so far. The 30-share index has managed to close above 37,300 after hitting an intraday high of 37,368.4, while the Nifty ended above 11,250 after hitting intraday record high of 11,283.4.

The day began on a positive note as gains in metals and FMCG space boosted the market. Hindalco and ITC led the gains chart for both the sectors. Additionally, a surge in financial names also boosted the market, while midcaps’ rally aided sentiment. The index further extended gains through the session as these sectors held the rally as well.

The Sensex surged 352.21 points or 0.95 percent at 37336.85, and the Nifty rallied 111.10 points or 0.99 percent to 11,278.40. The market breadth was positive as 1,638 shares advanced, against a decline of 956 shares, while 178 shares are unchanged.

ITC, Tata Motors, and IOC were the top gainers, while HUL, Adani Ports, Dr Reddy’s Laboratories and Bajaj Finserv were the top losers.

Stocks in news:

ITC shares rallied to hit a fresh 52-week high of Rs 307 as brokerage houses remained bullish on the stock after the company started off the financial year 2018-19 on a strong note. The cigarette-hotel-to-FMCG major has reported profit growth of 10.1 percent year-on-year to Rs 2,818 crore with better growth in FMCG business (cigarette + others). The stock closed 5.2% higher.

Shares of Biocon gained almost 5 percent on the back of strong numbers declared by the company in the quarter ended June 2018. The company beat analysts’ estimates by posting a 47 percent jump in net profit at Rs 120 crore in the first quarter ended June 2018.

Westlife Development share price rallied 11 percent after the company posted profit and double digit same-store-sales growth in Q1FY19. Profit for the quarter ended June stood at Rs 11.6 crore against loss of Rs 2.7 crore in the same period last year, said the owner of the master franchisee of McDonald’s restaurants in west and south India.

Shares of IL&FS Transportation Networks gained 17 percent as the company announced rights issue worth Rs 3,000 crore. The company board at its meeting held on July 27, approved the proposal for issue of equity shares of face value of Rs 10 each to the existing shareholders on a right basis upto Rs 3,000 crore, subject to all applicable statutory and regulatory approvals.

A2Z Infra Engineering share price rallied 17 percent after the company announced one time debt settlement with lenders of its subsidiary.

Global update

European markets were trading higher as investors digested fresh earnings and looked for cues from key growth data from US. Stoxx 600 was slightly higher by 0.12 percent.

Asian shares closed mixed as investors kept an eye on trade headlines and upcoming economic events. The Nikkei 225 edged higher by 0.56 percent, or 125.88 points, to close at a session high of 22,712.75.
First Published on Jul 27, 2018 04:13 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant