Nifty breaches 10,200 for first time ever; RIL, Bharti Airtel, Infratel hit 52-week highs

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Updated: October 16, 2017 10:44:10 AM

Indian equities opened higher on Monday on the optimism of better-than-expected second quarter earnings. The key equity benchmark index Nifty made a lifetime high today while the benchmark Sensex too made a new record high of 32,687.32 points.

The broader Nifty 50 advanced as much as 67 points to mark the record high of 10,234.8 points. (Image: Wikimedia Commons)

Indian equities opened higher on Monday on the optimism of better-than-expected second quarter earnings. The key equity benchmark index Nifty made a lifetime high today while the benchmark Sensex too hovered near its record high of 32,686.48 points. The broader Nifty 50 advanced as much as 67 points to mark the record high of 10,234.8 points and Sensex jumped 224 points to hit the day’s high of 32,657.16 points — just 29 points short to mark an all-time high. NSE Nifty gained 40 points to open at 10,207.4 whereas BSE Sensex added 56 points to start at 32,488.23 points.

Shares of Bharti Airtel and Bharti Infratel hit the 52-week highs, rising 1.7% and 1.5% respectively. The stock of Reliance Industries hit the all-time high, surged 1.77% to Rs 892 on NSE. The stocks of heavyweight companies such as HDFC Bank, ITC, Tata Motors, L&T, HUL, HDFC, Infosys, RIL, ICICI Bank, Kotak Mahindra Bank contributed the most to the indices upsurge. Collectively these 10 stocks alone added about 115 points to Sensex.

Second quarter earnings from the blue-chip companies such as Bajaj Finance, Axis Bank, IndusInd Bank, and Wipro and inflation data will steer the stock market trend in the three-day trading week ahead. The domestic stock markets would be closed on Thursday and Friday for Diwali. Markets will open on Diwali (Thursday) for an hour for Muhurat trading session.

Shares of Bajaj Finance, Bajaj Finserv, Binani Industries, Colgate, DCB Bank, Delta Corp, DHFL, Federal Bank, Hatsun Agro, JM Financial, Kansai Nerolac, Oberoi Realty, Persistent Systems, Sasken Tech, Sterlite Tech, Texmaco Rail, Texmaco Infra, and Zee Learn will be in focus ahead of the second quarter results.

US stocks rose on Friday following upbeat economic data and gains in technology shares, pushing the Dow and the S&P 500 to a fifth straight week of gains. The Dow Jones Industrial Average rose 30.71 points, or 0.13% to end at 22,871.72, and the S&P 500 gained 2.24 points or 0.09 % to 2,553.17. The Nasdaq Composite added 14.29 points, or 0.22 % to 6,605.80, a record closing high.

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