You are here: Home » Markets » News
Business Standard

Markets end at record highs; Nifty closes above 9,900 for first time ever

All that buzzed in today's trading session

SI Reporter  |  New Delhi 

The market settled Monday's trade at record highs thanks to strong gains in IT counters such as Infosys and Wipro. Index heavyweight Reliance Industries, crossing the Rs 5 lakh crore market capitalisation for the first time ever, added to the gains, while ITC, dropping over 4% on speculations of an expected hike in cess by GST Council, hogged the limelight. In intraday trade, the S&P BSE Sensex and Nifty50 logged their fresh lifetime highs of 32,131 and 9,928, respectively.  Meanwhile, Asian markets set a fresh two-year high, boosted by stronger-than-expected ...

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
Markets end at record highs; Nifty closes above 9,900 for first time ever

Anand James, Chief Market Strategist, Geojit Financial Services   Start of Parliament's monsoon session and anticipation of any updates on the banking sector pushed Nifty within striking distance of 10,000. Investors look less daunted by psychological mark as earnings season has encouraged a stock specific approach. Centre's stand on the cross-border tensions with China and the updates on the monsoon may also mould the risk appetite of the investors in the coming sessions.

Markets end at record highs; Nifty closes above 9,900 for first time ever

Top gainers and loser on Sensex  

Markets end at record highs; Nifty closes above 9,900 for first time ever

Nifty IT index gained over 1%. Wipro (up 3%), HCL Tech (up 2%) and Infosys (up 1%) contributed most. 

Markets end at record highs; Nifty closes above 9,900 for first time ever

Nifty Realty index (up 1.4%) was the leading sectoral gainer, led by a sharp spurt in Unitech which surged 15% to Rs 8. Delta Corp, Godrej Properties and Indiabulls Real Estate gained between 1% and 3%. 

Markets end at record highs; Nifty closes above 9,900 for first time ever

ITC extended losses at fag end of the trade to settle over 4% lower at Rs 323. 

Markets end at record highs; Nifty closes above 9,900 for first time ever

The market breadth, indicating the overall health of the market, turned slightly negative. On BSE, 1,382 shares fell and 1,294 shares rose. A total of 179 shares were unchanged.

Markets end at record highs; Nifty closes above 9,900 for first time ever

Broader indices BSE Midcap and BSE Smallcap remained little changed at close.  

Markets end at record highs; Nifty closes above 9,900 for first time ever

The S&P BSE Sensex closed at 32,074, up 54 points, while the broader Nifty50 settled at 9,915, up 29 points. 

Markets end at record highs; Nifty closes above 9,900 for first time ever

HDFC Securities' pick of the week    We recommend Greaves Cotton a BUY at CMP of Rs 160 and add on decline of Rs 145 for the targets of Rs 185 and Rs 208 for the time-frame of over the next 4 quarters.

Markets end at record highs; Nifty closes above 9,900 for first time ever

European markets were trading mmixed as investors reacted to robust economic growth data in China and monitored the second round of formal Brexit talks in Brussels. The pan-European Stoxx 600 moved up 0.2%, Britain's FTSE 100 was also up 0.3%, but France's CAC 40 and Germany's DAX were down 0.2% and 0.4%, respectively.

Markets end at record highs; Nifty closes above 9,900 for first time ever

In the broader market, BSE Midcap was up 0.1%, while BSE Smallcap continued trading flat. 

First Published: Mon, July 17 2017. 15:34 IST
RECOMMENDED FOR YOU

Markets end at record highs; Nifty closes above 9,900 for first time ever

All that buzzed in today's trading session

The market settled Monday's trade at record highs thanks to strong gains in IT counters such as Infosys and Wipro. Index heavyweight Reliance Industries, crossing the Rs 5 lakh crore market capitalisation for the first time ever, added to the gains, while ITC, dropping over 4% on speculations of an expected hike in cess by GST Council, hogged the limelight. In intraday trade, the S&P BSE Sensex and Nifty50 logged their fresh lifetime highs of 32,131 and 9,928, respectively.  Meanwhile, Asian markets set a fresh two-year high, boosted by stronger-than-expected ...

image
Business Standard
177 22