Markets end at record closing high; Nifty hits 10,500, ends lower


The benchmark indices settled at record closing highs with the Nifty50 touching its crucial 10,500 in last leg of trade, but ended below that mark.

Broader indices the S&P BSE Midcap and the S&P BSE Smallcap indices also hit their respective closing highs.

The Nifty IT (up 1%) and The Nifty PSU Bank (up 1.5%) were the leading sectoral gainers.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,570 shares rose and 1,173 shares fell. A total of 178 shares were unchanged.

The 30-share BSE Sensex was up 184.02 points at 33,940.30 and the 50-share NSE Nifty rose 52.70 points to 10,493.

Morepen Laboratories and D B Realty, from the S&P BSE Smallcap index, have rallied 50% each during the current week on back of positive development in these counters.

GNA Axles (up 4 percent) and Kilburn Engineering (up 10 percent) were trading at day’s high while ONGC and Granules India extended rally to 3-4 percent.

Continue Reading


Nifty settles below 9,800, down over 1.5% for the week; Sensex ends flat


Benchmark indices pared gains to end flat, losing over 1.5% in the week on foreign fund outflows amid worries that the government may widen its fiscal deficit target of 3.2% of gross domestic product for the year ending in March 2018 to boost an economy that grew at a slower pace than expected.

Broader markets outperformed benchmark indices with BSE Midcap and BSE smallcap indices gaining 0.8% and 1% respectively. Both indices ended over 1% for the week

Foreign investors net selling equities worth $1.1 billion during the month. They had sold worth $2 billion in shares in August.

Bajaj Auto, Adani Ports, GAIL and Eicher Motors gained the most on both indices, while HUL and Wipro were the top losers.

Realty firm Godrej Properties today said it has entered into a joint venture agreement with Royale Builders and Developers to develop a 13-acre group housing project in north Bengaluru.

Continue Reading