Sensex reclaims 35,000: IT, FMCG, auto, metal stocks shine in claw-back


Benchmark indices ended sharply up on Friday, triggered by corporate earnings and taking cues from global peers.

The S&P BSE Sensex hit an intra-day high of 35,065, but pared gains to end at 34,970 levels, up 256 points. The broader Nifty50 index settled at 10,692, up 75 points.

Reliance Industries (RIL) hit a record high of Rs 1,000 per share, up 2.5% on the BSE in intraday trade on the BSE, ahead of its Q4FY18 results today. The stock surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal. The textiles-to-telecom conglomerate, RIL is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100-billion mark.

Country’s largest car maker, Maruti Suzuki, reported a record annual profit of Rs 77.21 billion for the year ended March 31, 2018, helped by a double-digit growth in volumes of cars sold. The Suzuki-promoted firm clocked a near 17 percent jump in sales revenue for the year to Rs 781 billion. Profit, however, grew by just five percent. An increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year impacted net profit, the company said.

Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining 5%, its sharpest intra-day gain during past one month on the National Stock Exchange (NSE).

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Benign reaction to UK poll verdict; Sensex, Nifty erase losses to end on Friday in green


The benchmark indices ended marginally higher on Friday tracking mixed trend seen in global markets as investors reacted benignly to the UK poll verdict, which left no single party with a clear claim to power.

The S&P BSE Sensex settled at 31,262, up 48 points, while the broader Nifty50 closed at 9,668, up 21 points.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively.

The breadth, indicating the overall health of the market, was positive. On the BSE, 1,380 shares rose and 1,289 shares fell. A total of 187 shares were unchanged.

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