Indian stock markets started little higher in green following a minimal uptick in Sensex, but in a quick succession, the benchmark index jumped 128 points to hit a fresh record high. The 30-share barometer Sensex added as much as 128.21 points to hit an all-new lifetime high of 36,268.19 in the morning trades. A rise in heavyweight shares of companies such as HDFC, ITC, HDFC Bank, TCS, Maruti Suzuki, and SBI contributed the most to the extended rally of Sensex. Shares of large-cap companies such as Idea Cellular, Biocon, Canara Bank, Capital First, Container Corporation Of India, L&T Infotech, Mahindra & Mahindra Financial Services and Pidilite Industries will be in close watch ahead of their respective Q3 results.
Shares of ONGC, HDFC, TCS, Maruti Suzuki, ITC, and SBI emerged as the top gainers among the Sensex stocks rising up to 1.5% while Bharti Airtel lost 3.3% followed by ICICI Bank, Adani Ports, Tata Motors, Tata Steel and Coal India. Other major companies which are also lined up with third-quarter earnings are InterGlobe Aviation, HEG, Pidilite Industries, KEI Industries, Raymond, KPIT Technologies, MAS Financial Services, Motilal Oswal Financial Services, Mphasis, Pfizer, Quess Corp, Sagar Cements, and Vijaya Bank. Going ahead in the holiday-shortened week ahead, Q3 earnings of Maruti Suzuki, Idea Cellular, Coal India, and Dr Reddy’s Laboratories along with derivatives expiry will likely to steer the domestic equities.
Shares of Indiabulls Housing Finance gained 2.21% to the 52-week high of Rs 1,409.95 after the mortgage lender reported a 55.4% growth in net profit at Rs 1,167.7 crore in the quarter to December, boosted by a one-time gain from stake sale in one of its investments. Shares of PNB Housing Finance surged 2.84% to a day’s high of Rs 1,337.85 after the housing financier reported a 58% increase in profit after tax to Rs 217 crore for the quarter ended 31 December 2017.
US stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P and Nasdaq Composite, but the Dow Industrials were hemmed in by declines in Johnson & Johnson and Procter & Gamble, Reuters said in a report. The Dow Jones Industrial Average fell 3.79 points, or 0.01 percent, to 26,210.81, the S&P 500 gained 6.17 points, or 0.22 percent, to 2,839.14 and the Nasdaq Composite added 52.26 points, or 0.71 percent, to 7,460.29.
Earlier yesterday, India’s stock market made new all-time highs on Tuesday with benchmark indices Sensex and Nifty crossing the psychological levels of 36,000 and 11,000 for the first time in the history of Indian capital markets. The S&P BSE Sensexamassed as much as 341.97 points or 0.96% to close at 36,139.98 and Nifty added 117.5 or 1.07% to conclude at 11,083.7 while Nifty Bank surged 1.27% to close at 27,384.5. Domestic markets started the day at record highs with Sensex and Nifty breaching the round figure levels of 36,000 and 11,000 within minutes of opening up of the market. During the day, the benchmark Sensex jumped 372.82 points to mark the all-time high of 36,170.83 whereas the 50-share barometer Nifty advanced 126.7 points to hit an intraday all-time high of 11,092.9.