Sensex, Nifty end higher for fourth straight session; Infosys gains 3%
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Benchmark indices ended higher on Monday, gaining for a fourth consecutive session of gains with Nifty settling above 9,900, as index heavyweight Infosys surged on the first day of trading since the appointment of co-founder Nandan Nilekani as chairman on hopes that the move would help defuse a months-long row between the founders and the board.
Infosys shares ended 3% higher after earlier rising as much as 4.6% on hopes that the appointment would provide some much needed stability to the company that has been reeling since the shock resignation of Chief Executive Vishal Sikka, who waged an acrimonious battle with the founders for months over alleged corporate governance lapses.
Globally, European shares fell in a broad sell-off as the euro strengthened after ECB chief Mario Draghi did not express concern about a strong currency in a closely watched speech.
4:03 PM
Analyst View
Jayant Manglik, President, Retail Distribution at Religare Securities: Nifty gained over half a percent today amid volatility. It opened with an uptick and remained range bound thereafter due to lack of follow-up buying. The prevailing dullness in our markets can be attributed to the recently concluded earnings season, which failed to cheer the participants at large. And now, the anxiety of derivatives expiry has taken over.
Things would be clear by the end of this week. Meanwhile, focus on risk management aspect and keep a close on upcoming data viz. GDP, auto sales for further cues.
3:47 PM
Infosys top gainer
Infosys shares ended 3% higher after earlier rising as much as 4.6% on hopes that the appointment would provide some much needed stability to the company that has been reeling since the shock resignation of Chief Executive Vishal Sikka, who waged an acrimonious battle with the founders for months over alleged corporate governance lapses.
Infosys shares ended 3% higher after earlier rising as much as 4.6% on hopes that the appointment would provide some much needed stability to the company that has been reeling since the shock resignation of Chief Executive Vishal Sikka, who waged an acrimonious battle with the founders for months over alleged corporate governance lapses.
3:45 PM
Sectoral index chart
PSU Bank was the only index that ended in red on NSE.
PSU Bank was the only index that ended in red on NSE.
Source: NSE
3:42 PM
IT stocks led the gains. The Nifty IT index rose as much as 1.3%, gaining for a fourth straight session. It ended 0.8% higher.
Source: NSE
3:39 PM
Top gainers and losers on BSE Sensex
Source: BSE
3:34 PM
Broader Markets
Broader makrets outperformed benchmark indices with BSE Midcap and BSE Smallcap rising over 1% each
Broader makrets outperformed benchmark indices with BSE Midcap and BSE Smallcap rising over 1% each
3:33 PM
Markets at close
Benchmark indices ended higher on Monday, gaining for a fourth consecutive session of gains, as index heavyweight Infosys surged on the first day of trading since the appointment of co-founder Nandan Nilekani as chairman on hopes that the move would help defuse a months-long row between the founders and the board.
Benchmark indices ended higher on Monday, gaining for a fourth consecutive session of gains, as index heavyweight Infosys surged on the first day of trading since the appointment of co-founder Nandan Nilekani as chairman on hopes that the move would help defuse a months-long row between the founders and the board.
The S&P BSE Sensex ended at 31,751, up 155 points while the broader Nifty50 index was ruling at 9,912, up 55 points.
3:30 PM
India Inc on record fundraising spree; Rs 62,000-crore IPOs filed with Sebi READ THE STORY HERE
3:24 PM
BUZZING STOCK
Dr Reddy's Laboratories fell over 2% after it said that a law firm representing an investor filed a class action lawsuit in New Jersey against the company, its CEO and CFO.
Dr Reddy's Laboratories fell over 2% after it said that a law firm representing an investor filed a class action lawsuit in New Jersey against the company, its CEO and CFO.
3:16 PM
DLF extends fall
Realty major DLF fell nearly 5% despite the audit committee approved the deal between the company and GIC for stake sale in rental arm DLF Cyber City Developers.
Realty major DLF fell nearly 5% despite the audit committee approved the deal between the company and GIC for stake sale in rental arm DLF Cyber City Developers.
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First Published: Aug 28 2017 | 3:30 PM IST