Sensex ends little higher after crossing 33,800 for first time; ‘Paradise Papers’ report weighs

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Published: November 6, 2017 3:53:36 PM

Indian stock market closed marginally lower after making fresh record highs in a range-bound trade on Monday amid the mixed sentiments following the leaked 'Paradise Papers' report.

Bombay Stock Exchange building. (Image: Wikimedia Commons)

Indian stock market closed marginally lower after making fresh record highs in a range-bound trade on Monday amid the mixed sentiments following the leaked ‘Paradise Papers’ report. BSE Sensex gained 45.63 points or 0.14% to end at 33,731.19 points while NSE Nifty settled flat, down 0.7 points or 0.01% at 10,451.8 points. However, domestic stock markets hit yet another record highs on Monday after a weak opening ahead of some major corporate earnings this week and GST Council Meeting on 10 November. The benchmark Sensex advanced 162.86 points to hit a fresh record high of 33,848.42 points whereas broader Nifty rose 37.95 points to mark the all-time high of 10,490.45 points.

Markets regulator SEBI (Securities and Exchange Board of India) will look into alleged fund diversion and corporate governance lapses at various listed firms and their promoters, including those linked to Vijay Mallya, named in the leaked ‘Paradise Papers’, PTI reported.

Shares of ONGC, M&M, Tata Motors, Cipla, TCS, Wipro and Maruti Suzuki were the major gainers on Sensex today while Bharti Airtel, Sun Pharma, NTPC, Axis Bank, Reliance Industries, L&T lost up to 1.91%. The stocks of heavyweight companies such as TCS, Tata Motors, ONGC, M&M, Maruti Suzuki, SBI were the major contributors to the index. Collectively these six stocks alone added about 117 points while the upmove was capped by the 122-points decline provided by RIL, Axis Bank, Bharti Airtel, L&T, Sun Pharma, and NTPC.

Shares of Hindustan Copper have zoomed about 50% in just four trading sessions from 1 November till Monday, 6 November. The stock of Hindustan Copper rose as much as 20% on Monday to hit a fresh 52-week high of Rs 104.1 on NSE. Since 1 November, the stock has witnessed a huge appreciation of 49.89% to the 52-week high price.

Meanwhile, among the regional markets, Japan’s Nikkei 225 finished flat at 22,548.35, while South Korea’s Kospi dropped 0.3% to 2,549.41, Hong Kong’s Hang Seng index was nearly unchanged at 28,596.80, while the Shanghai Composite Index added 0.5% to 3,388.17. Australia’s S&P/ASX 200 dipped 0.1% to 5,953.8, Associated Press reported.

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