Indian stock markets ended at record highs on Monday as sentiments turned positive led by the optimism after India's largest housing mortgage lender HDFC posted healthy numbers for the July-September quarter.
Indian stock markets ended at record highs on Monday as sentiments turned positive led by the optimism after India’s largest housing mortgage lender HDFC posted healthy numbers for the July-September quarter. BSE Sensex gained 108.94 points or 0.33% to end at 33,266.16 points while NSE Nifty added 40.6 or 0.39% to finish at 10,363.65 points. Domestic markets traded higher through the day as market participants were keenly awaiting the Q2 earnings. During the day, the benchmark Sensex rose 186.95 points to hit the all-time high of 33,340.17 whereas the broader Nifty jumped 61.45 points to mark the lifetime high of 10,384.5.
Mortgage lender HDFC reported a rise of 17.3% in its consolidated net profit to Rs 2,869.41 crore for the second quarter ended 30 September. Following the Q2 results, the stock of HDFC advanced 1.41% to Rs 1,722 before closing up 0.44% at 1705.5 on BSE. Shares of Lupin, ONGC, Bharti Airtel, Dr Reddy’s, Tata Motors, TCS, HDFC Bank, Reliance Industries, and L&T were the major gainers on Sensex, advanced up to 2.67% while HUL, ITC, Tata Steel, Wipro and M&M lost up t0 1.71%. The heavyweight stocks HDFC Bank, RIL, TCS, L&T and HDFC contributed the most to the Sensex gains. Collectively these five stocks added about 128 points to the index while on the other side ITC and HUL capped the gains.
Wall Street stocks climbed on Friday following a surge in the tech sector and a rally in Amazon shares helped push the Nasdaq to its best day in nearly a year. The S&P technology index led the way higher, up 2.91%. The index notched its best day since March 1, 2016, and is up nearly 35% on the year versus the 15% gain in the S&P 500, Reuters reported. Google-parent Alphabet gained 4.26% as its revenue got a boost from advertising sales. Microsoft jumped 6.41% after the world’s largest software company reported further gains from its cloud computing services. The Dow Jones Industrial Average rose 33.33 points or 0.14% to 23,434.19, the S&P 500 gained 20.67 points or 0.81% to 2,581.07 and the Nasdaq Composite added 144.49 points or 2.2% to 6,701.26.