Markets end at record highs; Nifty closes above 10,200 for first time ever
All that happened in Monday's trade
 "Photo: Shutterstock")
Photo: Shutterstock
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 Reliance Industries hogged limelight.
On the macro front, The annual rate of Wholesale Price Index (WPI)-based inflation eased to 2.6% in September as prices of food articles, led by vegetables, softened. This was after wholesale inflation had soared to a four-month high of 3.24% in August 2017. Compared with the same month last year, however, the rate of inflation saw an increase from 1.36% in September 2016.
4:04 PM
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.
3:48 PM
Sectoral trend at close
Source: NSE
3:46 PM
Sensex heatmap at close
Source: BSE
3:44 PM
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).
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).
3:36 PM
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.
The S&P BSE Sensex ended at 32,633, up 201 points, while the broader Nifty50 settled at 10,230, up 63 points.
3:32 PM
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%
3:26 PM
Buzzing stock
Visa Steel surged 19.78% to Rs 21.50 on BSE after the Reserve Bank of India hiked foreign investment limit in the company to 74% from 24%.
Visa Steel surged 19.78% to Rs 21.50 on BSE after the Reserve Bank of India hiked foreign investment limit in the company to 74% from 24%.
3:16 PM
European markets
European markets edged slightly higher on Monday morning as investors monitored the latest in political news coming out of Austria, Spain and the UK.
The pan-European STOXX600 added 0.2%, while Spain's IBEX was down 0.7%. The MSCI world equity index, which tracks shares in 47 countries, was up 0.1%, fueled by the earlier gains in Asia and those in Europe.
3:02 PM
Markets check
At 3:00 pm, the S&P BSE Sensex was trading at 32,641, up 208 points, while the broader Nifty50 was ruling at 10,233, up 65 points.
2:56 PM
Competition in telecom sector to remain intense: Moody's
Competition in the Indian telecom sector is expected to remain intense over 12-18 months despite consolidation as leading operators look to safeguard their turf, according to Moody's.
"While consolidation activity is positive for the industry in the long-term, we still expect competition to remain intense over the next 12-18 months as leading operators - like Bharti, Vodafone India and Reliance Jio Infocomm Limited - look to protect and grow market share," it said. READ MORE
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First Published: Oct 16 2017 | 3:34 PM IST