Share market highlights today: The Sensex and Nifty closed in the positive territory for the second consecutive session on Monday led by value buying in bluechip stocks. The BSE Sensex closed a volatile trading day 131.52 points or 0.38% higher at 34,865.10 points. Infosys, ITC, HDFC Bank, Reliance Industries, TCS, Sun Pharma, ONGC, HDFC and Wipro together contributed nearly 300 points to the BSE Sensex index. The BSE market breadth was bullish, with 1,637 advances and 967 declines.
The Nifty of the National Stock Exchange reclaimed the 10,500-mark on Monday led by gains in index heavyweights like Dr Reddy’s, Hindalco, Cipla, Infosys and ITC among others. The Nifty closed Monday’s trade at 10,512.50 points, up 40 points or 0.38%. However, the Bank Nifty closed slightly lower by 0.03%. Among the sectoral indices, the Nifty auto, metal and private bank indices closed in red.
The Sensex and Nifty had turned choppy after opening on a higher note on Monday amid negative global cues, weak rupee and rising crude oil prices. The rupee hit the 74/$ mark intra-day riding on higher crude prices and weak macro-economic data. Asian and European markets slumped on Monday. Crude oil prices rose as tension over the disappearance of a prominent Saudi journalist stoked supply worries, although concerns over the long-term demand outlook dragged on sentiment, said a Reuters report.
Among the major announcements during the day, private sector lender IndusInd Bank reported its corporate results for the second quarter ended September 2018. The bank’s profit after tax rose 4.6% to Rs 920.25 crore for Q2 2018 and net interest income (NII) grew by 21% year-on-year to Rs 2,203.28 crore. TV18 Broadcast’s shares surged post the announcement of its quarterly results. The company posted a profit of Rs 40.36 crore for the quarter ended September 2018 against a loss of Rs 6.82 crore in the previous period.
Q2 update: Hero MotoCorp and Infosys are expected to come out with their corporate results for the second quarter ended September 2018 on Tuesday. Infosys shares climbed nearly 4% ahead of Q2 results. Other companies include Federal Bank, Mahindra CTE, J&K Bank and Crisil.