Better Q2 results help Nifty hit all-time high

Pablo Tucker
October 14, 2017

As dealers dumped slowdown fears and instead pumped money to trade in truckloads, the rupee stood firm against the USA dollar that fuelled the rally, taking investor wealth to Rs 138.19 lakh crore.

At 10.30 AM: Sensex was up by over 183 points or 0.57% at 32,365.93 while the wider Nifty was up by over 52 points or 0.52% at 10,149.35. The 30-share BSE Sensex opened positive and settled the session higher by 250.47 points, or 0.78 per cent, at 32,432.69 - its biggest closing in three months.

The gauge had shot up 348 points on Thursday.

It broke previous record closing of 10,153.10 hit on September 18. The index also hit a fresh intra-day high of 10,191.90 points, crossing its previous high of 10,178.95 points on an intra-day basis scaled on September 19.

Bharti Airtel was the lodestar surging 7.89 per cent to Rs 431.60, thanks to its merger deal with Tata Teleservices for a song.

Nifty Bank surged 327.90 points or 1.35 per cent to end at 24,689.15 with shares of Kotak Mahindra Bank (up 2.34 per cent), HDFC Bank (up 1.76 per cent), Canara Bank (up 1.60 per cent), ICICI Bank (up 1.40 per cent), Yes Bank (up 1.18 per cent) and Punjab National Bank (up 0.90 per cent) being the top gainers.

Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 2 percent.

In Asia, Tokyo's Nikkei stock index today hit a fresh 21-year on the back of upbeat Japanese corporate earnings, but Kobe Steel plunged again on a widening quality control scandal.

On Thursday, the benchmark indices closed on a higher note buoyed by positive global cues and intense buying activity during the last hour of trade. While the French CAC 40 Index closed just below the unchanged line, the German DAX Index inched up by 0.1 percent and the U.K.'s FTSE 100 Index rose by 0.3 percent.

Other reports by iNewsToday