1Sensex gains 100 points, Nifty above 9930; Nifty Metal surges
- Author: Michelle Webb Aug 18, 2017,
Aug 18, 2017, 0:15
Other gainers were Reliance Industries at Rs 1,589.90 per piece up 1.46%, followed by Tata Steel at Rs 635.10 (0.85%), Bharti Airtel at Rs 409.70 per piece (0.75%), Dr Reddy's Laboratories at Rs 2,011.60 per piece (0.64%) and Lupin at Rs 966.15 per piece (0.41%). This movement led to erasing nearly all of its gains by the indices, which were trading with gains of over 100 points on the Sensex, and the Nifty placed comfortably above 9900-mark.
The fact that Asian markets had picked up as US-North tensions ebbed over the weekend also influenced the markets. Minutes into trading, it was quoting at 31,816.25 points, up by 45.36 points, or 0.14 per cent.
In pre-open market, Sensex touched 31,927.51 higher by 157 points, while Nifty was up 49 points at 9,945.55.
The benchmark BSE Sensex ended the session up 322 points or 1.02 percent at 31,770 while the broader Nifty index climbed 103 points or 1.05 percent to 9,897.
Infosys, the country's second largest IT exporter, zoomed most by 4.54 percent, after the company said the board will take up a proposal for buyback of shares on Saturday, helping the key indices post gains for the third day in a row. The S&P BSE mid-cap index rose by 1.26 per cent and the small-cap index by 1.31 per cent.
Baby dolphin dies after tourists pass it around for photos
Its unexpected arrival drew crowds of tourists and beachgoers last Friday, all seeking to touch it and be photographed with it. According to a 2015 Daily Mail report, there at least 10 instances in one week of tourists harassing dolphins .
Cigarette stocks gained. VST Industries jumped 3 percent, Godfrey Phillips India advanced 6 percent while ITC rose 1 percent.
The domestic stock indices reversed early gains and turned volatile in late morning trade on Thursday due to a sudden sell-off in auto and banking stocks. All sectoral indices led by metal, power, FMCG and auto were in the green, adding up to 1.19 per cent. "The opportunity from recent correction and the announcement of share buyback from IT major supported sentiment", said Vinod Nair, Head of Research, Geojit Financial Services.
Hong Kong's Hang Seng Index slipped 0.30 percent by 3:09 p.m. HK/SIN as earnings reporting season continued. Nifty Bank index lost 150 points to come off intraday highs at 24,290.05.
Coal India gained about 4 percent after a huge block deal.