Indian stock markets extended gains in the opening deals after starting marginally higher on Thursday with Sensex rising more than 100 points and Nifty firming above 10,550 ahead of TCS Q4 results 2018 which are due later today.
Indian stock markets extended gains in the opening deals after starting marginally higher on Thursday with Sensex rising more than 100 points and Nifty firming above 10,550 ahead of TCS Q4 results 2018 which are due later today. Shares of India’s largest FMCG company ITC surged further after the 3%-gain on Wednesday. Shares of country’s third-largest private sector lender Axis Bank were the top laggards among the components of BSE Sensex on Thursday. All the sectoral indices on NSE traded higher with Nifty Metal, Nifty Realty and Nifty FMCG leading the charge. In the early morning trades, volatility shrank as India Vix, the volatility indicator on NSE, dropped 11.4% to a day’s bottom of 12.5025 on Thursday.
Shares of Tata Steel, ONGC, IndusInd Bank, Adani Ports, Dr Reddy’s, Asian Paints emerged as the top gainers among the constituents of Sensex while shares of Axis Bank, Wipro and Kotak Mahindra Bank seen declining. BSE Sensex opened 71.99 points or 0.21% higher at 34,403.67 whereas NSE Nifty surged 37.45 points or 0.36% to open at 10,563.65 on Thursday. Shares of oil marketing companies extended yesterday’s losses with stocks of Indian Oil Corporation, Hindustan Petroleum Corporation, Bharat Petroleum Corporation plunging over 2% each. The benchmark Sensex touched a day’s top of 34,478.82, up by 147.14 points.
Shares of Mindtree surged as high as 3.66% to a day’s high of Rs 898 after the Bengaluru-based IT firm reported over 87% rise in net profit to Rs 182.2 crore for January-March quarter of FY18. The company expects the current fiscal to be significantly better than FY18. Shares of Fortis Healthcare gained 2.9% to Rs 148.8 after the Fortis Healthcare on Thursday received an improved binding offer worth Rs 1,500 crore from Hero Enterprise Investment Office and Burman Family Office.
The S&P 500 eked out a small gain while the Dow ended lower after a volatile trading session on Wednesday, with weakness in sectors such as consumer staples and financials offsetting strong gains in the energy and industrial indexes.
The Dow Jones Industrial Average fell 38.63 points, or 0.16 percent, to 24,748, the S&P 500 gained 2.26 points, or 0.08 percent, to 2,708.65 and the Nasdaq Composite added 14.14 points, or 0.19 percent, to 7,295.24.