1. Sensex hits record high, Nifty tops 9950, RIL shares at new 9-year high; HDFC Bank earnings ahead

Sensex hits record high, Nifty tops 9950, RIL shares at new 9-year high; HDFC Bank earnings ahead

Indian stock markets open strong as optimism continued ahead of the corporate earnings and F&O expiry this week. BSE Sensex opened 72 points higher at 32,100.22 points while NSE Nifty 50 opened 21 points at 9,936.8 points.

By: | Updated: July 24, 2017 11:23 AM
The Major gainers on the benchmark Sensex were Wipro (up 1.61%), Reliance Industries (up 1.18%), Hero MotoCorp (1.14%), SBI (1.05%), Lupin (up 0.88%).

Indian stock markets opened strong as optimism continued ahead of the corporate earnings and F&O expiry this week. BSE Sensex opened 72 points higher at 32,100.22 points while NSE Nifty 50 opened 21 points at 9,936.8 points. The major earnings lined up for today are Ambuja Cements, Bharti Infratel, HDFC Bank, Indiabulls Housing Finance, Zee Entertainment. In the wee minutes of trade, the 30-share barometer hit a record high of 32,185.82 points and broader Nifty advanced beyond 9,950, hit a new lifetime high at 9,953.1 points.

The Major gainers on the benchmark Sensex were Wipro (up 1.61%), Reliance Industries (up 1.18%), Hero MotoCorp (1.14%), SBI (1.05%), Lupin (up 0.88%). Shares of Wipro hit a fresh 52-week high of Rs 292.4 while Reliance Industries hit a fresh 9-year high at Rs 1,620.

Most of the sectoral indices of NSE trade in green led by a rally in PSU bank stocks including shares of bank, FMCG, IT, media, realty, private bank and financial services with gains up to 1.14% while auto, metal and pharma stocks weigh down.

Rupee drops by 11 paise to Rs 64.43 against the US currency in the opening session due to fresh dollar demand from importers. The rupee opened lower at the interbank foreign exchange market and slid by 11 paise to 64.43 per dollar in early
trade. It had closed at 64.32 per dollar on Friday.

Other earnings which are scheduled for today are GIC housing Finance, Hudco, I G Petrochemicals, Indiabulls Real Estate, IRB Infrastructure Developers, Just Dial, L&T Infotech, M&M Financial, Zee Learn, Excel Crop Care, Flexituff International, Gulf Oil, Info Edge, JM Financial, Navkar Corp, NELCO, Patel Engineering, Petron Engineering Construction, Swaraj Engines, Tata Communications, Texmaco Infrastructure, Texmaco Rail, Vinyl Chemicals, Wendt India.

Asian stocks slipped on Monday as demand for riskier assets ebbed after their recent strong gains, while the European Central Bank’s apparent equanimity at the euro’s two-year highs left the dollar languishing. Japan’s Nikkei dropped 0.9%, pressured by a stronger yen. Chinese shares bucked the trend, with blue-chips up 0.3% and the Shanghai Composite advancing 0.2%. Hong Kong’s Hang Seng added 0.4%.

On Friday, global stocks ended a 10-day winning streak, taking a breather from a rally that had propelled them to a record high in the previous session. The declines continued on Monday, with the index marginally lower. Wall Street indexes ended Friday flat to about 0.15 percent lower, as disappointing earnings from General Electric and energy shares weighed.

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