1. Sensex gains over 100 points, Airtel, RIL hit fresh 52-week high; Axis Bank, HDFC stock slumps

Sensex gains over 100 points, Airtel, RIL hit fresh 52-week high; Axis Bank, HDFC stock slumps

Sensex and Nifty opened higher on Monday after plunging more than half a percent in the Muhurat Trading on Friday. The stock of Airtel and RIL hit a fresh 52-week high today while Axis Bank extended the losses.

By: | Published: October 23, 2017 10:00 AM
Sensex rose as much as 223.94 points to hit the day’s high of 32,614.89. (Image: Wikimedia Commons)

Sensex and Nifty opened higher on Monday after plunging more than half a percent in the Muhurat Trading on Friday. BSE Sensex gained 21.9 points to open at 32,411.86 points and NSE Nifty added 30.1 points to start at 10,176.65 points.  Within Minutes of trading, the benchmark Sensex rose as much as 223.94 points to hit the day’s high of 32,614.89 while Nifty jumped 77.6 points to mark the day’s high at 10,224.15 points. The value buying in the shares of Reliance Industries, ICICI Bank, and TCS led the key indices in green.

Shares of Adani Ports, Bharti Airtel, Hero MotoCorp, RIL, Sun Pharma, HUL, TCS, and SBI were the major gainers on Sensex, advanced up to 2.37% while Axis Bank extended the losses, fell about 1%. The stocks of heavyweight companies such as RIL, TCS, ICICI Bank, HUL, ITC contributed the most to the Sensex gains. Collectively these five stocks added about 88 points to the index while HDFC and Axis Bank capped the upsurge. The stock of Airtel and RIL hit new 52-week high, rose 2.62% to Rs 486.3 and 2.15% to Rs 929.95 respectively.

Shares of Indiabulls Housing Finance were trading little changed ahead of the second quarter results for the financial year 2018. Other major results which are scheduled today are Havells India, Hindustan Zinc, Automotive Stampings, Graphite India, Nocil, Oriental Hotels, Tinplate Company Of India, Wendt, Zuari Agro will be in focus today ahead of second-quarter earnings of FY 2018.

Indian markets on Muhurat Trading

BSE Sensex lost as much as 264.98 points to hit the day’s low of 32,319.37 while NSE Nifty dropped 87.5 points to mark the day’s low of 10,123.35. The broader Nifty index posted heavy volumes in just one hour of trade with the shares of Reliance Industries emerging out as the leader in terms of value traded. In just one hour of the trade about Rs 1,682.54 crore worth of shares were exchanged hands on Nifty 50, out of which RIL contributed around Rs 330 crore — which is an unusual figure on Muhurat trading followed by Bharti Airtel, and Axis Bank.

US markets on Friday

US stocks hit record closing highs on Friday and the S&P 500 posted the sixth week of gains after the U.S. Senate passed a budget resolution, lifting hopes that President Donald Trump’s tax-cut plan may move forward. The Dow Jones Industrial Average rose 165.59 points, or 0.71% to end at 23,328.63 points, the S&P 500 gained 13.11 points or 0.51% to 2,575.21 points and the Nasdaq Composite added 23.99 points or 0.36% to 6,629.05 points.

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