Sensex tops 32,600 at close, Nifty finishes at 10,230 for first time; Airtel settles at 52-week high

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Published: October 16, 2017 4:09:35 PM

Sensex and Nifty closed at fresh record highs on Monday with just two days left for the Muhurat trading on Diwali. The value buying in the blue-chip shares such as Airtel, Hindustan Unilever, and Tata Motors pushed the indices to mark lifetime highs.

Bombay Stock Exchange building. (Image: Reuters)

Sensex and Nifty closed at fresh record highs on Monday with just two days left for the Muhurat trading on Diwali. BSE Sensex gained 201 points to close at 32,633.64 points while NSE Nifty added 63 points to finish at 10,230.85 points. During the day, the broader Nifty 50 jumped 75.5 points to hit the all-time high of 10,242.95 points while the benchmark Sensex advanced 254.63 points to mark the new lifetime of 32,687.32 points. Shares of Bharti Airtel, Vedanta, and Bharti Infratel were the biggest gainers on NSE Nifty. The value buying in the blue-chip shares such as Airtel, Hindustan Unilever,  and Tata Motors pushed the indices to mark lifetime highs.

The stock of Bharti Airtel jumped to a fresh 52-week high, rising as much as 6% to Rs 457 on Monday after the telecom operator Airtel and Millicom International Cellular announced the completion of a deal to combine their operations in Ghana. Earlier on Friday, shares of Bharti Airtel surged up to 8% after the company announced the acquisition of Tata group’s loss-making mobile telephony business, almost for free, boosting its spectrum holding and user base. Shares of Bharti Infratel advanced 3.9% to Rs 467.5 on NSE.

Shares of Reliance Industries hit a fresh all-time high for the third consecutive session on Monday. Earlier on Friday, Mukesh Ambani’s ambitious telecom venture Reliance Jio reported a loss of Rs 270.59 crore in its first quarterly financial performance for the period ended 30 September. However, RIL’s fiscal second-quarter net profit at Rs 8,097 crore just met the expectations despite the Jio loss, on the back of healthy refining margins. The stock of Reliance Industries rose as much as 1.77% to Rs 892 and subsequently fell 1.74% to mark a day’s low of Rs 861.3 before closing up 0.12% at Rs 877.5 on NSE.

Second quarter earnings from the blue-chip companies such as Bajaj Finance, Axis Bank, IndusInd Bank, and Wipro and inflation data will steer the stock market trend in the three-day trading week ahead. The domestic stock markets would be closed on Thursday and Friday for Diwali. Markets will open on Diwali (Thursday) for an hour for Muhurat trading session.

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