Jayant Manglik, President, Retail Distribution, Religare Securities Nifty opened with an uptick and managed to settle with decent gains amid volatility. Buoyancy on the local front helped the index to make a firm start as participants took note of RIL's results and contraction in trade deficit figure. Some support also came in with further strengthening of rupee against the dollar combined with favorable global cues. However, traders really had a tough time on specific stocks due to excessive volatility. On sectoral front, noticeable buying was witnessed on metal, pharma, realty and auto stocks while PSU banks remained under pressure. We reiterate our positive view on Nifty and expect 10,400 to be tested shortly. Any intermediate pause or decline should be considered as buying opportunity. Volatility is not new during the earnings season, so traders should focus on position management also. Sectoral trend at close Source: NSE Sensex heatmap at close Source: BSE Bharti Airtel top gainer Bharti Airtel hogged limelight with the stock rallying nearly 6% to Rs 457, its nine-year high. The telecom giant last week announced its decision to combine operations with Tata Teleservices and Tata Teleservices (Maharashtra). Markets at close The S&P BSE Sensex ended at 32,633, up 201 points, while the broader Nifty50 settled at 10,230, up 63 points. Fundraising via IPOs at record high; crosses Rs 40,000 crore mark in CY17 With the initial public offering (IPO) of General Insurance Corporation of India (GIC Re) getting fully-subscribed, fund-raising through the IPO route has hit a record high so far in 2017, crossing Rs 40,000 crore mark. Thus far in the calendar year 2017 (CY17), 28 companies have collectively mopped up Rs 44,853 crore through IPOs, surpassing its previous high recorded seven year ago. In entire CY10, as many as 64 companies had raised Rs 37,535 crore via IPOs. CLICK HERE FOR THE FULL STORY The average Sensex return for these months is a negative 1.55%
The benchmark indices kicked off the holiday truncated week at record highs with the Nifty50 settling above 10,200 for first time ever thanks to gains in index heavyweights Bharti Airtel and Mahindra & Mahindra. Asian markets advancing to a decade high also contributed to the gains. The Sensex gained as much as 254 points to hit its record high of 32,687 in intraday trade, while the broader Nifty50 rallied 75 points to log its fresh peak of 10,243. Among individual stocks, Bharti Airtel, Federal Bank, Bharat Financial Inclusion and ...
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