Sensex soars to new record; Reliance, ONGC lead gains

Erika Holt
January 22, 2018

TCS rose the most among Sensex components by surging 5.36 per cent to close at new high of Rs 3,113.15, followed by Reliance Industries at 4.50 per cent at Rs 971.20.

The BSE index had touched an all-time intra-day high of 35,827 points and the NSE too had surged to 10,975.10 points - an all-time high in Nifty50's intra-day session.

The broader NSE Nifty closed up 0.66 percent at 10,966.20 while the benchmark BSE Sensex ended 0.81 percent higher at 35,798.01.

Energy companies were among the top gainers, with the S&P BSE Energy index closing 2.42% higher, its second straight session of gains.

Axis Bank post its better-than-expected earnings rallied 3.6 percent and helped the Nifty Bank close higher. "Global market was negative but FIIs continued preference for domestic market on expectation of a good budget uplifted the market sentiment", said Vinod Nair, Head of Research, Geojit Financial Services Ltd. ICICI and SBI slipped slightly in opening trade. ONGC spurted by 3.28 per cent after it got go ahead to acquire the governments entire 51.11 per cent stake in HPCL for Rs 36,915 crore.

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In Thursday's morning trade, were outperforming with the Nifty Bak sub-index gaining nearly 2 per cent.

Wipro Ltd slid as much as 3.6 percent after the software services exporter on Friday posted an 8.5 percent drop in third-quarter profit on one-off provisions. The Nifty Midcap index was up 0.93 percent and BSE Smallcap gained 0.8 percent though the market breadth was not strong.

Other prominent gainers include HDFC Bank, HDFC, Yes Bank, Adani Ports, Coal India, Hero MotoCorp, Tata Motors, Bajaj Auto, Kotak Bank and Power Grid.

In the Asian region, Shanghai Composite Index rose 0.22 per cent, Hong Kong's Hang Seng rose 0.02 per cent, while Japan's Nikkei down 0.20 per cent in their early deals.

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