Sensex rose about 70 points to settle at a fresh lifetime peak of 34,503 while Nifty rose 19 points to end at a record high of 10,651.2. In the intraday trade, 30-share barometer Sensex added 125.81 points to hit the day’s high of 34,558.88 while Nifty 50 surged 32.4 points to hit an all-time high of 10,664.6. Indian stock markets closed marginally higher on Thursday after trading in red until morning session with the blue-chip shares of Infosys, Bharti Airtel, Indiabulls Housing Finance, HDFC, Kotak Mahindra Bank, Eicher Motors, Tech Mahindra, HUL, Yes Bank rising the most. BSE Sensex gained 70.42 points or 0.20% to finish at 34,503.49 and NSE Nifty rose 19 points or 0.18% to conclude at 10,651.2. The domestic stock markets started on a cautious note today as investors were keenly awaiting the major third-quarter earnings beginning with the blue-chip firm TCS. In the week ahead, the global cues such as rising crude oil prices, combined with the direction of foreign fund flows and the rupee’s movement against the US dollar, will also impact investors’ risk-taking appetite.
Shares of India’s largest IT company Tata Consultancy Services lost 0.67% to end at Rs 2,788.4 after hitting an all-new 52-week high of Rs 2,810 in the morning trades. IT bellwether TCS is scheduled to announce its third-quarter earnings on Thursday, 11 January 2018. Apart from TCS, shares 3 other major IT firms hit a 52-week high. Shares of Infosys were the top gainers among the 50 shares of NSE Nifty. The of stock India’s second-largest IT company Infosys rose as much as 2.96% to a 52-week high of Rs 1,083.4 before settling 2.3% up at Rs 1,076.5. The stock of Tech Mahindra gained over 2% to hit a 52-week high of Rs 555.85 whereas the stock KPIT added as much as 2.69% to a 52-week high of Rs 211.8 on NSE.
Other than IT companies, shares of Bharti Airtel, Kotak Mahindra Bank, HDFC, HUL, Eicher Motors, Asian Paints, Yes Bank, M&M, Indiabulls Housing Finance, UPL, PFC, Sun TV, Motherson Sumi, Glenmark Pharma, PNB, Tata Power, Cummins India, Britannia, OFSS gained up to 3%. Among the shares of group ‘A’, IDFC Bank, Praj Industries, Symphony, Eros Media, Aban Offshore rose in a range of 6%-9% while Fortis Healthcare, Videocon Industries, Tata Sponge Iron and Container Corporation of India lost between 2% to 9%.
Meanwhile, IndusInd Bank on Thursday reported a rise of 25% in Q3 net profit to Rs 936 crore in the October-December quarter on a yearly basis for the financial year 2017-2018 while the net NPAs (non-performing assets) saw an increase of 10% in three months. The prominent private sector lender IndusInd Bank reported a net profit of Rs 936.25 crore, up by 24.72% from Rs 750.64 crore in the third quarter of the financial year 2016-2017. The total income of IndusInd Bank grew 16.05% to Rs 5,473.54 crore for the quarter ended 31 December 2017. The bank reported a net inc0me of Rs 4,716.13 crore in the same period a year earlier.
Following a decrease in the asset quality of IndusInd Bank, shares of IndusInd Bank dived nearly 3%. The stock of IndusInd Bank tumbled 2.75% to the day’s low of Rs 1,687. IndusInd Bank shares opened marginally higher at Rs 1740, up by 0.3% in the morning trades on BSE.