Indian stock markets opened on a positive note on Tuesday with the key equity index Sensex hitting the psychological mark of 36,000 for the first time while Nifty breached 11,000 led by the rally in shares of RIL and Infosys.
Indian stock markets opened on a positive note on Tuesday with the key equity index Nifty breachings the psychological level of 11,000 for the first time ever. Within seconds of opening up of the markets, Nifty 50 index surpassed the 11,000-level, making a top of 11,018. The domestic markets are on a continuous rising spree since about last 13 months with the benchmark indices Sensex and Nifty making and breaking newer highs day after day. The 30-share barometer Sensex jumped 226.06 points to hit an all-time high of 36,024.07 on Tuesday while the wider share indicator Nifty 50 surged as much as 64.4 points to hit a lifetime peak of 11,030.6. Going ahead in a holiday-shortened week ahead, Q3 earnings of Maruti Suzuki, as well as derivatives expiry, will likely to steer the domestic equities. Companies such as Maruti Suzuki India, Canara Bank, Idea Cellular, Coal India, and Dr Reddy’s Laboratories scheduled to announce their Q3 results this week.
BSE Sensex gained 70.18 points or 0.2% to open at 35,868.19 and NSE Nifty 31.2 points 0.28% to begin at 10,997.4. The blue-chip companies such as Maruti Suzuki India, Canara Bank, Idea Cellular, Coal India, and Dr Reddy’s Laboratories scheduled to announce their Q3 results this week. The benchmark Sensex surged 316.12 points to hit a lifetime peak of 35,827.7 and Nifty ticked up 80.4 points to hit a fresh record high of 10,975.1. Shares of Tata Steel, Infosys, RIL, ONGC, Axis Bank, Coal India surged up to 2.5% while, on the other hand, Asian Paints, HUL, and Tata Motors dipped a little.
The heavyweight shares of companies such as Infosys, Reliance Industries, ICICI Bank, HDFC, Tata Steel contributed the most in the Sensex and Nifty rally. Collectively these 5 shares alone added about 140 points to the index out of the 190-point gain in the index. At the time of writing, Sensex was trading up 190.77 points or 0.53% at 35,988.78. Shares of Indiabulls Housing Finance will be in a close watch as the housing financier is all set to announce its third-quarter earnings. Other major companies which are also lined up with their respective Q3 earnings are Force Motors, Indiabulls Real Estate, Alembic, Can Fin Homes, Crompton Greaves Consumer Electricals, PNB Housing Finance, Edelweiss Financial Services, L&T Technology Services, NIIT, RBL Bank Symphony, Syngene International, United Spirits, and Wabco India.
US stocks advanced on Monday as each of Wall Street’s main scored records in the wake of a deal by U.S. senators to end the federal government shutdown, Reuters said in a report. Legislation to renew federal funding to the government cleared a procedural hurdle in the Senate and was expected soon to pass votes in the Senate and House of Representatives, allowing the government to re-open through 8 February, Reuters added. The Dow Jones Industrial Average rose 142.88 points, or 0.55 percent, to 26,214.6, the S&P 500 gained 22.67 points, or 0.81 percent, to 2,832.97 and the Nasdaq Composite added 71.65 points, or 0.98 percent, to 7,408.03.