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Sensex, Nifty rally on positive global stocks

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Domestic bourses logged strong gains on upbeat global stocks. The barometer index, the Sensex, gained 304.90 points or 0.85% at 36,239.62, as per the provisional closing data. The index gained 94.35 points or 0.87% at 10,947.25, as per the provisional closing data. Shares of index heavyweight (RIL) advanced.

The Sensex settled well above the psychological 36,000 mark after regaining that level in opening trade. Trading for the day began on an upbeat note on positive Asian stocks. Stocks extended gains as the session progressed until hitting intraday high in late trade.

The Mid-Cap index rose 1.01%. The Small-Cap index rose 1.04%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1678 shares rose and 956 shares fell. A total of 142 shares were unchanged.

Index heavyweight (RIL) gained 3.02% to Rs 1,025.75.

shed 0.56% ahead of its Q1 June 2018 result today, 10 July 2018.

gained 1.86% after the company said its board will meet on 12 July 2018, to consider a proposal for buyback of the equity shares. The announcement was made after market hours yesterday, 9 July 2018.

IndusInd fell 1%. The reported 23.8% rise in net profit to Rs 1035.72 crore on 20.12% rise in total income to Rs 6369.75 crore in Q1 June 2018 over Q1 June 2017. The result was announced during market hours today, 10 July 2018.

rose 0.75%. The Group global wholesales in June 2018, including (JLR), were at 100,135 units, higher by 12%, over June 2017. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in June 2018 were at 44,229 units, higher by 53%, over June 2017. Global wholesales of all passenger vehicles in June 2018 were at 55,906 units, lower by 8%, compared to June 2017. The announcement was made during market hours today, 10 July 2018.

rose 3.99%. said its board approved the acquisition of 51% equity share capital of by cash for Rs 75.22 crore. It also approved amalgamation of with the company. The company shall issue its equity shares in exchange of remaining 49% equity shares of under the scheme of amalgamation. The board also approved the draft scheme of amalgamation, valuation report and other relevant documents in relation to the scheme of amalgamation. The announcement was made after market hours yesterday, 9 July 2018.

Rex is in the business of and supply of Proposed amalgamation shall expand the existing product line of and allow it to enter into the

Overseas, European shares traded higher as investors focused on upcoming corporate earnings and put trade and political tensions aside.

In Europe, the resignation of two of UK Theresa May's most senior ministers in one day, throwed the into turmoil over negotiations to leave the

Asian stocks rose amid optimism the upcoming earnings season will be sufficiently robust to overshadow a rise in trade tensions. US equities posted a broad rally yesterday, 9 July 2018 with strong economic data appearing to offset worries about rising trade tensions.

Data from the Federal Reserve showed that consumer borrowing picked up in May with total consumer credit increasing $24.6 billion to a seasonally adjusted $3.9 trillion, up 7.6%. This is the fastest pace of credit growth since November.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 15:51 IST