Nifty crosses 10,000 mark in early trade

Key benchmark indices edged higher in early trade. At 9:17 IST, the barometer index, the S&P BSE Sensex, rose 81.33 points or 0.25% at 32,327.20. The Nifty 50 index advanced 23.85 points or 0.24% at 9,990.25. Both the Sensex, and the Nifty, hit record high. Nifty crossed a historic 10,000 mark in early trade.

The S&P BSE Mid-Cap index rose 0.35%. The S&P BSE Small-Cap index advanced 0.34%. Both these indices outperformed the Sensex. The breadth, indicating the overall health of the market, was strong. On the BSE, 755 shares rose and 326 shares declined. A total of 46 shares were unchanged.

Ambuja Cements rose 1.53% after consolidated net profit rose 11.9% to Rs 718.24 on 14.7% increase in net sales to Rs 6145.33 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Ambuja Cements said that the Government's focus on infrastructure, backed by a good monsoon, should help in spurring economic growth in the second half of the year. The company said it was well prepared for the implementation of the new Goods and Services Tax (GST) with effect from 1 July 2017. The resulting simplification of the tax structure will make it easier to do business and benefit the overall economy in the long run.

Bharti Infratel was up 2.52%. The company's consolidated net profit fell 12.2% to Rs 663.90 crore on 9.7% increase in net sales to Rs 1593.40 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Indiabulls Housing Finance rose 1.89% after consolidated net profit rose 25.1% to Rs 788.22 crore on 24.2% growth in total income to Rs 3225.02 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Zee Entertainment Enterprises was down 0.83%. The company's consolidated net profit rose 15.9% to Rs 251.44 crore on 2% decline in net sales to Rs 1540.25 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Overseas, Asian stocks witnessed a mixed trend amid subdued trading on Wall Street overnight. US equities closed mixed yesterday, 24 July 2017 as Wall Street geared up for a major week of earnings and Federal Reserve news. The US Federal Reserve will announce its interest rate decision tomorrow, 26 July 2017. The Federal Reserve had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting.

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