The key equity index Nifty breached the psychological level of 10,900 for the first time on Friday led by an uptick in over a dozen heavyweight shares. We take a look at highlights of the record-breaking rally and major developments among the Nifty constituents this week.
The key equity index Nifty breached the psychological level of 10,900 for the first time on Friday led by an uptick in over a dozen heavyweight shares. The blue-chip stocks of ICICI Bank, Reliance Industries, Indian Oil Corporation, HDFC Bank, Adani Ports, Indiabulls Housing Finance, Bajaj Finance, Tata Consultancy Services, State Bank of India, Yes Bank, Vedanta, L&T, Kotak Mahindra Bank, ITC, Axis Bank, HDFC, Bharat Petroleum Corporation and Hindustan Petroleum Corporation contributed the most in the upsurge of the index. In the intraday trades, Nifty 50 amassed as many as 89.85 points to hit a fresh peak of 10,906.85 before settling up 77.7 points or 0.72% at 10,894.7 on Friday.
Over the course of one-week, Nifty had finished in green in four out of five sessions making fresh lifetime highs on each of the four sessions. In the last 5-day trading session, Nifty got appreciated by 213.45 points or 1.99% to conclude at 10,894.7. In the calendar year 2018, Nifty had added 364 points or 3.46% in 15 sessions to a record closing high of 10,894.7.
In Friday’s trades, 4 blue-chip stocks hit 52-week highs, namely, HDFC Bank, ICICI Bank, Tata Consultancy Services and HCL Technologies. Shares of ITC, Yes Bank, ICICI Bank, State Bank of India, and Bharti Airtel emerged as the top five most traded stocks out of the 50 scrips, while, shares of Yes Bank, ITC, ICICI Bank, SBI and HDFC Bank were the top five which topped turnover.
The major developments among shares of Nifty index this week were (click on pointers to read further)
- HDFC shares jump 7%, hit all-time high; market cap crosses 3 lakh crore for first time ever
- IT stocks rally: TCS, Infosys, Wipro, Tech Mahindra, HCL Technologies hit 52-week highs
- Zee Entertainment Q3 profit up 28% backed by strong advertisement revenue growth
- HDFC Bank Q3 result: Net profit jumps 20.1% on-year to Rs 4,642.6 crore, bad loans stable on-quarter
- Bharti Airtel Q3 earnings remain subdued as net profit falls; all key figures in a nutshell
- Reliance Industries Q3 net profit rises 16% to Rs 9,423 crore
- Yes Bank Q3 result: Net profit spikes 22% on-year to Rs 1,079 crore, bad loans shrink sequentially
- BFSI shares rally: HDFC twins, Yes Bank, SBI, IndusInd Bank, Axis Bank, ICICI Bank, PNB surge up to 5%
- HDFC Bank market cap tops Rs 5 lakh crore for 1st time; becomes 3rd Indian company to enter the club
- HCL Tech Q3 net profit flat at Rs 2,075 crore; company maintains revenue, EBIT guidance
- ITC Ltd Q3 net profit up 17% at Rs 3,090.20 crore, revenue from FMCG business declines
- Kotak Mahindra Bank Q3 profit up 20% (Reuters)
- UltraTech standalone net dives 25% as operating costs increase
- Bharti Infratel Q3 net declines 8% quarter on quarter
- Adani Ports Q3 net profit jumps 19.51% to Rs 1,001 crore.
- Q3 earnings: Hindustan Unilever beats estimates, net up 30%