Sensex, Nifty rally more, touch fresh peaks

Henrietta Brewer
July 17, 2017

The NSE 50-share Nifty hit 9,920.30 at 1100 hours, up 33.95 points, or 0.34 per cent. Wipro hit it big by 3.56 per cent. Adani Ports, ICICI Bank and Infosys followed. The Sensex, in intra day-trade, also posted a new all-time high of 32,131.92.

The company's market valuation on BSE went up by Rs3,948.99 crore to Rs1,30,224.99 crore.

However, some gains were capped as heavy selling pressure was witnessed in FMCG and capital goods stocks. Reliance Industries, due to report earnings on Thursday, rose 1.3%.

The Nifty opened higher today at 9,908.15.

Positive trading in most Asian markets and China's robust economic growth in June quarter boosted market sentiment. Bluechips outperformed small and mid-caps.

On the currency front, the rupee strengthened by 10 paise to 64.35 to a U.S. dollar from its previous close at 64.45.

For the fifth time in last six sessions, the domestic equity market on Monday hit fresh lifetime highs, with the NSE Nifty50 closing above the 9,900 mark for the first time ever.

"Foreign investors are continuously buying into selected index heavyweight stocks, resulting in the upmove in the market".

Sector-wise, the S&P BSE metal index rose by 116.43 points, the IT index by 95.55 points and the banking index by 89.81 points.

Shares of the company gained 3.12 per cent to settle at Rs 267.60 on BSE.

On the other hand, ITC (3.40%), Coal India (1.34%), GAIL (India) (1.13%), Dr Reddy'S Laboratories (0.72%), Axis Bank (0.42%), and Maruti Suzuki India (0.41%) were the major losers in the Sensex.

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