Sensex At New Record Levels, Nifty Rises to 10,558 | CORPORATE ETHOS

Sensex At New Record Levels, Nifty Rises to 10,558

By: | January 5, 2018
stock market

BSE Sensex Rose to a record 34182.87 before closing at 34153.85 while Nifty ended 0.51% up at Rs 10,558.85 on positive global cues, better expectations on Q3 corporate earnings and the positive outlook on the Union Budget due on February 1.

The top Sensex gainers were YesBank 333.05 (5.03%), Adani Ports 424.45 (3.71%), Bharti Airtel 540 (3.36%), IndusInd Bank 1698.50 (3.17%), Dr Reddy’s 2467.35 (2.40%) and TCS 2684.45 (1,31%). Among the losers were Infy 1012.10 (0.32%), Sun Pharma 578.75 (0.39%), Wipro 309 (0.60%), SBI 306.20 (0.60%), ICICI Bank (0.70%), ONGC 0..83%).

Among Nifty gainers were Yes Bank 332.90 (4.98%), Bajaj Finance 1,818 (3.65%). Adani Ports 423.65 (3.37%), Indus Ind Bank 1700 (3.24%) and Bharti Airtel 539 (3.23%). Among major losers were Infratel 372.40 (-1.75%), Hindalco 276.15 (-1.30%), UPL 774.10 (0.97%), Hind Petro 415(0.92%), IOC 384.10 (0.83%).

According to Vinod Nair, Head, Equity Research at Geojit Financial Services Ltd, strong buying interest in mid cap and small cap helped the broader index to outperform the key indices for the week.  The recent higher oil prices, rising inflation and RBI hawkish stance which are warning signs for the market, he said. The market is awaiting the populist budget, the last one before the general elections for further cues apart from Q3 earnings.