Markets

Sensex, Nifty trade at life-time highs; Reliance Industries, ITC advance

Sensex, Nifty trade at life-time highs; Reliance Industries, ITC advance

The energy and IT sub-indices of NSE were up almost 0.5 per cent each. The shares of Avenue Supermarts, the operator of D-Mart retail chain, gained 5.5 per cent after reporting that its Q1 net profit increased 47.7 per cent at Rs 174.7 crore as against Rs 118.4 crore in the same quarter previous year.

Both the key indices, Sensex and Nifty, advanced to hit new life-time high levels in late morning trade on strong gains in RIL, FMCG major ITC and banking stocks.

At 12.50 p.m., the wider Nifty of the National Stock Exchange (NSE) traded 52.60 points, or 0.53 per cent higher at 9,967.85 points. The gauge had touched an intra-day high of 9,928.20 on July 17.

The rupee dropped by 11 paise to 64.43 against the United States dollars in Monday's opening session thanks to fresh demand from importers for U.S. currency.

The 30-share BSE Sensex rallied 216.98 points to 32,245.87 but the participation in today's rally was too low from broader markets as the BSE Midcap and Smallcap indices managed to end 0.3 percent higher each despite weak breadth.

Violence leaves one dead at Israeli embassy in Jordan
A crowd estimated at more than 8,000 turned out for a demonstration called by Islamist movements and leftist parties. The Hala Akhbar news site, which is linked to Jordan's military, said the violent incident also included a stabbing.

"A latest report from the International Monetary Fund, in which it projected India's growth at 7.7 per cent in 2018 helped sentiments".

Among other Asian markets, Hong Kong's Hang Seng gained 0.44 percent, while Shanghai Composite Index rose 0.18 percent in their early deals.

On BSE, 1,129 stocks were advancing whereas 637 stocks were lagging.

Software exporter Wipro also rose 1.9 percent after announcing a $1.7 billion share buyback.


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