Key benchmark indices extended early gains and hit fresh intraday high in morning trade. At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 234.13 points or 0.67% at 34,947.73. The Nifty 50 index was up 70.50 points or 0.66% at 10,688.30. The Sensex touched the psychologically important 35,000 mark in morning trade. Shares edged higher amid encouraging Q4 earnings so far and positive global cues. Continuous buying by domestic institutional investors also boosted sentiment.
The Sensex rose 317.27 points, or 0.91% at the day's high of 35,030.87 in morning trade, its highest intraday level since 2 February 2018. The index rose 31.13 points, or 0.09% at the day's low of 34,744.73 in early trade. The Nifty rose 87.05 points, or 0.82% at the day's high of 10,704.85 in morning trade, its highest intraday level since 2 February 2018. The index rose 29.75 points, or 0.28% at the day's low of 10,647.55 in early trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.60%. The BSE Small-Cap index was up 0.65%. Both these indices underperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,385 shares rose and 676 shares fell. A total of 95 shares were unchanged.
State Bank of India (up 4.09%), ICICI Bank (up 3.46%), Adani Ports and Special Economic Zone (up 1.89%) and Yes Bank (up 1.89%), were the top Sensex gainers in the Sensex pack.
Reliance Industries was up 2.93%. The company will declare Q4 results today, 27 April 2018.
Axis Bank was up 5.08%. The bank reported net loss of Rs 2188.74 crore in Q4 March 2018 as compared with net profit of Rs 1225.10 crore in Q4 March 2017. Total income rose 2.67% to Rs 14559.85 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 26 April 2018.
TCS (down 1.79%), Wipro (down 1.62%), NTPC (down 0.84%), HDFC Bank (down 0.53%) and HDFC (down 0.46%), were the major losers from the Sensex pack.
Overseas, Asian shares rose across the board after US equities were buoyed by solid earnings results and a rebound in technology stocks as US bond yields pulled back. Meanwhile, Euro was hovering near three-month lows after the European Central Bank kept interest rates unchanged.
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