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MARKET WRAP: Sensex ends 318 pts higher, Nifty holds 10,500; IT stocks gain

Benchmark indices rose on Thursday, driven by IT stocks such as Infosys and TCS on the back of a weak rupee

SI Reporter  |  New Delhi 

Markets, Indian stock markets
Markets, Indian stock markets

Top gainers in Nifty IT index: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) KPIT TECH. 270.85 258.25 12.60 4.88 TCS 3603.70 3495.10 108.60 3.11 INFOSYS 1221.00 1184.90 36.10 3.05 TECH MAHINDRA 711.35 697.45 13.90 1.99 HCL TECHNOLOGIES 911.70 894.35 17.35 1.94 Top losers in BSE Oil & Gas: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) OIL INDIA 214.50 230.55 -16.05 -6.96 GAIL (INDIA) 305.00 323.15 -18.15 -5.62 O N G C 167.90 175.55 -7.65 -4.36 INDRAPRASTHA GAS 253.35 263.35 -10.00 -3.80 CASTROL INDIA 163.20 167.15 -3.95 -2.36 Nifty sectoral performers of the day BSE Sensex: Gainers and losers of the day Market at close   The S&P BSE Sensex ended at 34,663, up 318 points while the broader Nifty50 index settled at 10,514, up 84 points. Avenue Supermarts up 6% after block deals Shares of Avenue Supermarts - the operators of retail chain D-Mart, have moved higher by 6% to Rs 1,437 on the BSE in noon deal trade on Thursday, after nearly one per cent or 5 million equity shares of the company changed hands through multiple block deals. READ MORE  

Benchmark rose on Thursday, driven by IT such as Infosys and Tata Consultancy Services on the back of a weak  

The S&P ended at 34,663, up 318 points while the broader Nifty50 index settled at 10,514, up 84 points.

The has weakened by more than 7% so far this year, hitting its lowest since December 2016 at 68.46 per dollar on Wednesday, as surging crude weigh on India, the world’s third largest importer of the commodity, raising fears that soaring costs could drive up inflation and widen the trade deficit.

The IT index rose over 2%, its biggest intraday gain in nearly four weeks, and has gained 18% so far this year. Infosys rose as much as 2.9% and TCS climbed 3%.

Meanwhile, Oil and Natural Gas Corporation (ONGC) trimmed losses to end 4% lower after falling 10% in intra-day trade after the media reports suggested that the government may ask the company to share the burden to reduce fuel price.

GLOBAL MARKETS

In the global markets, Asian fell on Thursday after the US government launched a national security probe into car imports that could lead to new tariffs, and President Donald Trump’s comments suggested setbacks in US-China trade talks.

MSCI’s broadest index of Asia-Pacific outside Japan was about 0.1% higher, but Japan’s Nikkei stock index fell 1.1% as auto slumped. South Korea’s KOSPI lost 0.2%.

In commodities markets, US crude was down 0.3 per cent at $71.63 a barrel. fell on Wednesday after an unexpected rise in US crude and gasoline inventories. Brent futures were 0.4 per cent lower at $79.50 a barrel, continuing to move lower after rising above $80 last week for the first time since November 2014 last week.

(with Reuters inputs)

First Published: Thu, May 24 2018. 15:30 IST
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MARKET WRAP: Sensex ends 318 pts higher, Nifty holds 10,500; IT stocks gain

Benchmark indices rose on Thursday, driven by IT stocks such as Infosys and TCS on the back of a weak rupee

Benchmark rose on Thursday, driven by IT such as Infosys and Tata Consultancy Services on the back of a weak  

The S&P ended at 34,663, up 318 points while the broader Nifty50 index settled at 10,514, up 84 points.

The has weakened by more than 7% so far this year, hitting its lowest since December 2016 at 68.46 per dollar on Wednesday, as surging crude weigh on India, the world’s third largest importer of the commodity, raising fears that soaring costs could drive up inflation and widen the trade deficit.

The IT index rose over 2%, its biggest intraday gain in nearly four weeks, and has gained 18% so far this year. Infosys rose as much as 2.9% and TCS climbed 3%.

Meanwhile, Oil and Natural Gas Corporation (ONGC) trimmed losses to end 4% lower after falling 10% in intra-day trade after the media reports suggested that the government may ask the company to share the burden to reduce fuel price.

GLOBAL MARKETS

In the global markets, Asian fell on Thursday after the US government launched a national security probe into car imports that could lead to new tariffs, and President Donald Trump’s comments suggested setbacks in US-China trade talks.

MSCI’s broadest index of Asia-Pacific outside Japan was about 0.1% higher, but Japan’s Nikkei stock index fell 1.1% as auto slumped. South Korea’s KOSPI lost 0.2%.

In commodities markets, US crude was down 0.3 per cent at $71.63 a barrel. fell on Wednesday after an unexpected rise in US crude and gasoline inventories. Brent futures were 0.4 per cent lower at $79.50 a barrel, continuing to move lower after rising above $80 last week for the first time since November 2014 last week.

(with Reuters inputs)

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