Business Standard

Nifty ends above 11,100 post Eco Survey

Image

Press Trust of India Mumbai
The NSE benchmark Nifty jumped 60.75 points to end at record 11,130.40 after the Economic Survey tabled in Parliament today said real GDP growth will rise to 7-7.5 per cent in 2018-19.

Buying momentum was seen mainly in auto, IT, finance service and media sectors.

However, fall in PSU bank, pharma, energy and FMCG stocks capped the market's rise.

Overseas, most European shares were trading lower as investors monitored fresh economic data and corporate earnings. Asian shares were mixed after several stocks gave up gains from upbeat openings that tracked Friday's rally on Wall Street.

Broader market witnessed selling pressure, with the Nifty Midcap and Smallcap index down by 0.85 per cent and 1.68 per cent, respectively.

The Nifty 50 index rose 60.75 points or 0.55 percent to close at 11,130.40, a record closing high.

It saw an intra-day movement of about 95.60 points.

On the sectoral front, Auto rose 1.48 per cent, IT 0.95 per cent, Finance Service 0.88 per cent, Media 0.67 per cent, Bank 0.19 per cent and Private Bank 0.18 per cent.

However, PSU Bank dropped by 1.41 per cent, Pharma 1.10 per cent, Energy 0.58 per cent, FMCG 0.57 per cent and Realty 0.34 per cent.

Major index gainers were Maruti, Eicher Motors, HDFC, Bharti InfraTel, UPL, Hero MotoCorp, IOC and Indiabulls Housing Finance.

Losers were Dr Reddy's, Lupin, GAIL, Bharti Airtel, HPCL, BPCL, ITC, Axis Bank, Cipla and ONGC.

The market breadth, indicating its overall health, was in favour of losers. On the NSE, 548 stocks advanced, 1,267 declined and 49 remained unchanged.

Total securities that hit their price bands were 201.

Turnover in the cash segment fell to Rs 35,515.69 crore from Rs 45,562.13 crore as on last Thursday.

A total of 14,592.44 lakh shares changed hands in 12,173,442 trades. The market capitalisation of listed firms on NSE stood at Rs 1,53,25,798.17 crore.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 29 2018 | 6:30 PM IST

Explore News