Sensex holds above 32,600 in a dull trade, Airtel hits new 52-week high; Axis Bank, Bajaj Auto, Wipro Q2 earnings ahead

By: | Published: October 17, 2017 9:36 AM

Sensex and Nifty opened flat on Tuesday after making new lifetime highs yesterday. The 30 share barometer Sensex shuttled in the range of 32,659.32 - 32,585.85 points in the early morning trade in a muted activity.

A man looking at the stock ticker of Bombay Stock Exchange building. (Image: Reuters)

Sensex and Nifty opened flat on Tuesday after making new lifetime highs yesterday. BSE Sensex gained 20.77 points or 0.06% to open at 32,654.41 points while NSE Nifty lost 3.2 points or 0.03% to start at 10,227.65 points. The 30 share barometer Sensex shuttled in the range of 32,659.32 – 32,585.85 points in the early morning trade. The market participants are keenly awaiting a positive blow from the second quarter earnings season which will steer the sentiments in coming days. The stock of Airtel surged for the third day in a row, hit a fresh 52-week high, rising as much as 1.8% to Rs 461.5 on NSE.

Shares of Bharti Airtel, Axis Bank, Bajaj Auto, Reliance Industries, Asian Paints, and Maruti Suzuki were the top gainers on the benchmark Sensex, advanced up to 1.3% while Mahindra & Mahindra, Tata Motors, Dr Reddy’s and Infosys fell. Shares of blue-chip companies such as Axis Bank, Bajaj Auto, Wipro will be in focus ahead of their second-quarter earnings for the financial year 2018. Other Q2 results which are to be announced today include ACC, AB Money, Atul Ltd, Bajaj Holdings, Blue Dart, Crisil, ICICI Lombard, Nucleus Software, Prakash Industries, RS Software, Som Distilleries, Tata Sponge.

All three major US stock index rose to record closing highs on Monday, with the Dow Jones Industrial Average less than 50 points below 23,000, ahead of a long list of earnings this week and as financial shares recovered from last week’s losses, Reuters reported. The Dow Jones Industrial Average rose 85.24 points, or 0.37% to close at 22,956.96, the S&P 500 gained 4.47 points or 0.18% to 2,557.64 and the Nasdaq Composite added 18.20 points or 0.28% to 6,624.01.

The domestic stock markets would be closed on Thursday and Friday for Diwali. Indian equity markets will open on Thursday for an hour for Muhurat trading session on the auspicious occasion of Diwali.

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