Market Live: Sensex crosses 31,600 mark, Nifty hits 9,700; IT, telecom, pharma stocks surge
Mumbai: The Sensex beyond the top to reach a high of 31 639.53 after a quarterly optimism of corporate results which is granted to institutional investors and domestic retailers much hope of making new bets.
First-order TCS will release its quarterly results on July 13. After the strong opening, the 30-share index rose 234.83 points, or 0.74%, to a new high of 31 639.53, which has reduced its previous lifetime (intra-day) 31 522 87 once it reached On June 22 The meter had divested itself of 8.71 points on Friday.
All sectoral indices driven by technology, information technology, real estate, power supply, health and banking were in the green, up to 1.58%. The short hedging positions also helped raise the index.
A mixed trend in other Asian stock markets following a rally on Wall Street on Friday in the back of the US employment data announced by the forecast has attracted investors here.
The main winners were Bharti Airtel, TCS, Lupine, Sun Pharma and Wipro, increasing to 3.73 percent. Hong Kong’s Hang Seng rose 0.95%, while Japan’s Nikkei rose 0.68%. Shanghai’s compound, however, fell 0.39% in early trading today. The USA. Dow Jones industrial average closed 0.44% higher on Friday.
The NSE trade resumes after being stopped in the technical problems for more than two hours in the first exchanges. BSE Sensex ranks higher by 233 points, or 0.74%, to 31,594, while the Nifty 50 is 65 points, or 0.68%, to 9,731.
Of divi Laboratories Ltd. rose 15% to Rs 782.15 on BSE after the company said in a warning to BSE that the US Food and Drug Administration regulator should lift the import alert visakhapatnam in its unit .
BSE Sensex ranked higher than 201 points, or 0.64%, at 31,562. The Great Financial Bank UA launched its stock market debut on Monday with a 52% premium after its initial public offering (IPO) resulted in almost 29 times last week.
Shares of IDFC and Shriram Group declined after brokers have called the deal negative merger. The proposed merger between IDFC Ltd and Shriram Capital not only complex, but also imply a painful transition, according to analysts.
They highlighted a number of pressure points, including regulatory bottlenecks and a potential mismatch of the assets and liabilities of IDFC Bank Ltd, with the exception of cultural challenges and individuals.
Shriram Transport Finance Ltd. fell 4.1%, Shriram Union City 4%, IDFC 3.7%, 1.5% IDFC Bank.
Tata Motors Ltd. rose 2.7% to Rs448.45 after the company reported retail sales of 51,591 units in June, up 11% compared to the same month last year. During the April-June quarter, the company sold 1.37.463 units, up 3.5% compared to the same period last year.
BSE Sensex ranks higher than 199 points, or 0.64%, to 31,560, while the Nifty 50 is 22 points, or 0.22%, to 9,687.
Biocon Ltd. decreased 5% to Rs321.05 after the company said that if it had received approval for its GMP biological facilities for French-controlled ANSM drugs, the drug unit should be re-reported.
Ratings care Ltd. increased 10% to Rs1,725.05 after and said that Fitch was looking to buy at the Mumbai-based rating agency about 10 days after Crisil has bought Canara Bank’s stake in 8.9% in CARE.
The rupee opened at $ 64.56. At 9:15, the rupee was trading at 64.53 dollars, up 0.10% from the close of 64.60 on Friday.
The yield on the 10-year bonds was 6.53%, compared with the previous closing of 6.532%. Bond yields and prices move in opposite directions.
Asian markets gained morning trading. Inventories rose in earnings in US markets over the weekend. S & P 500 gained 0.64% in 2425 due to the strong employment date.