Sensex ends over 700 points higher, Nifty around 10,250; PSU bank index up 8%
29 October 2018
Market at Close: An extremely strong day of trade comes to a close, with the Sensex jumping over 700 points, while the Nifty ended above 10,250-mark.
Intense buying among PSU banks, automobiles, infra, IT, metals, and pharmaceuticals boosted the indices. The Nifty Midcap index rose 3 percent.
Index heavyweights such as Reliance Industries, ITC, Infosys, and TCS rallied and aided sentiment.
At the close of market hours, the Sensex closed up 718.09 points or 2.15% at 34067.40, while the Nifty ended higher by 220.90 points or 2.20% at 10250.90. The market breadth is positive as 1,814 shares advanced, against a decline of 769 shares, while 1,046 shares were unchanged.
Market at day's high: The benchmark indices are trading at day's high level in the final hour of trading with Nifty trading above 10,250 mark.
At 15:19 hrs IST, the Sensex is up 751.18 points or 2.25% at 34100.49, while Nifty is up 231.30 points or 2.31% at 10261.30.
About 1775 shares have advanced, 717 shares declined, and 1133 shares are unchanged.
Buzzing: Shares of GTPL Hathway gained 6 percent as company won an EPC order worth Rs 1,246 crore in Gujarat.
The company is appointed as project implementation agency (PIA) of package B for implementation of BharatNet Phase - II Project in the state of Gujarat by Gujarat Fibre Grid Network (GFGNL).
Market Update: Equity benchmarks have extended their gains from the morning session, with the Sensex soaring over 470 points. The Nifty is trading well above 10,150-mark.
The Sensex is up 473.15 points or 1.42% at 33822.46, and the Nifty up 142.30 points or 1.42% at 10172.30. The market breadth is positive as 1,622 shares advanced, against a decline of 675 shares, while 1,323 shares were unchanged.
ICICI Bank and State Bank of India are the top gainers, while IndusInd Bank and HDFC Bank are the top losers. Reliance Industries, ITC and ICICI Bank have lost the most.
Natco Pharma to consider buyback: Shares of Natco Pahrma gained 5 percent as company is going to consider buyback of it shares.
A meeting of the board of directors of the company is scheduled on November 05 to consider and approve the unaudited financial results for the quarter ended September 30, 2018. The board will also consider the buyback of equity shares of the company.
Market Update: Benchmark indices are trading on strong note with Nifty hovering around 10,100 level and Sensex gains 200 points.
The Sensex is up 197.66 points at 33546.97, while the Nifty is up 60.50 points at 10090.50. About 1385 shares have advanced, 647 shares declined, and 1584 shares are unchanged.
Market opens: It is a good start to the week for the market, with the Nifty surpassing 10,050 in the opening trade. The Sensex opened over 150 points higher.
Buying is visible across all sectors, with pharmaceuticals, banks, automobiles and metals trading in the green. The midcap index is up around half a percent.
The Sensex is up 170.33 points or 0.51% at 33519.64, and the Nifty up 40.20 points or 0.40% at 10070.20. The market breadth is positive as 419 shares advanced, against a decline of 107 shares, while 3,089 shares are unchanged.
ICICI Bank, Yes Bank, and Indiabulls Housing have gained the most, while Kotak Mahindra Bank and IndusInd Bank are the top losers.
Market at pre-open: Benchmark indices are trading higher in the pre-opening trade with Nifty trading around 10,050 level.
At 09:02 hrs IST, the Sensex is up 285.02 points or 0.85% at 33634.33, while Nifty is up 17.80 points or 0.18% at 10047.80.
ICICI Bank gained 7 percent in the pre-opening trade.
US market ends lower on Friday: The S&P 500 ended at its lowest level since early May on Friday and flirted with correction territory after technology and internet shares sold off further, capping another volatile week for US stocks.
During the session, the benchmark S&P 500 fell more than 10 percent from its Sept. 20 record closing high, but pared losses to end above that level. A finish of 10 percent or more below its all-time closing high would confirm a correction, reported Reuters.