1. Sensex, Nifty open at new lifetime highs ahead of the RBI’s bi-monthly policy, Tech Mahindra surges

Sensex, Nifty open at new lifetime highs ahead of the RBI’s bi-monthly policy, Tech Mahindra surges

The domestic markets opened at a new lifetime high continuing the record breaking rally as broader Nifty opened at 10,101.05 points and the benchmark Sensex opened above 32,550 points for the first time ever.

By: | Published: August 1, 2017 9:43 AM
The 50-share barometer of NSE was little changed after the wee minutes of trade, up 0.21% at 10,098.4 while BSE Sensex traded marginally higher up 0.14% at 32,561.79 points. (Image: Reuters)

The domestic markets opened at a new lifetime high continuing the record breaking rally as broader Nifty opened above 10,100 points for the first time ever and the benchmark Sensex opened above 32,550 points. Sentiments were also positive ahead of the RBI’s third bi-monthly policy meeting which is scheduled on 2 August where the central bank is expected to slash the benchmark repo rates.

Shares of Tech Mahindra rose as much as 5.42% to Rs 406.74 after the fifth-largest software exporter yesterday reported a 6.57% rise in net profit in the three months ended June at Rs 798.6 crore. Stocks of Hindalco and Eicher Motors hit the respective 52-week highs rising of Rs 223.55 (up 1.78%) and Rs 30,430 (up 1.16%).

The 50-share barometer of NSE was little changed after the wee minutes of trade, up 0.21% at 10,098.4 while BSE Sensex traded marginally higher up 0.14% at 32,561.79 points. The shares of ICICI Bank, ITC, TCS, Maruti Suzuki remain the top point-wise contributor in lifting the benchmark indices higher.

Other gainers were Indian Oil (up 1.1%), Indiabulls Housing Finance (up 1.02%), Vedanta (up 0.92%), ACC (up 0.9%) while shares of HDFC (down 1.34%), Power Grid (down 0.83%), ONGC (down 0.87%) trade in red. 34 out of 51 scrips of Nifty 50 traded in green while most of the sectoral indices went up including Nifty Bank, Auto, IT, Media, Metal, Pharma, PSU Bank, Pvt Bank and realty with gains up to 1.04% while Nifty Fin Service and FMCG traded in red.

The rupee firmed up by 14 paise to 64.05 against the US dollar today as exporters and banks intensified selling of the American currency. The dollar’s weakness against other currencies overseas — except the Japanese yen — and a stronger opening in the domestic stock market gave the rupee strength.

Yesterday, Foreign Portfolio Investors’ sold equity shares worth Rs 11.45 crore at the end of the day while the debt investment stood at Rs 1,041.86 crore as per the data released by the NSDL (National Securities Depository Limited).

The Dow Jones Industrial Average hit a record closing high on Monday, helped by Boeing, while selling in Facebook, Alphabet and other technology companies checked the S&P 500 and pulled the Nasdaq lower. The S&P 500 information technology dipped 0.53%, with Facebook falling 1.86% and Alphabet, Google’s parent company, down 1.34%.

Get latest news and updates on Auto Expo 2018, check breaking news on Budget 2018, like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top