Mid-Session: Sensex surges 158 pts, Nifty crosses 8,500; Bharti down 2%

25/01/2017 12:31

The key domestic benchmark indices continued to trade higher in a broad-based rally on Wednesday, driven by strong across realty and consumer durable space, tracking firm cues from fellow Asian peers. The Indian rupee was also trading higher against its US counterpart amid fresh selling of dollar by foreign funds and exporters. Bharti Airtel fell nearly 2 per cent after the telecom major reported nearly 55 per cent decline in its consolidated net profit at Rs 503.7 crore for the third quarter ended December 31, 2016, as against Rs 1,108.1 crore in the same period a year ago.

At 12:20 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27533.49, up by 157.91 points or by 0.58 per cent, and the NSE Nifty was at 8527.8, up by 52 points or by 0.61 per cent.

In the day’s trade so far, the BSE Sensex touched intraday high of 27542.89 and intraday low of 27439.68, while the NSE Nifty touched intraday high of 8531.1 and intraday low of 8493.95.

Investors shrugged off concerns over Donald Trump’s protectionist policies and shifted focus to Union Budget 2017-18 which will be presented on February 1.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1317.55,+2.87%), Axis Bank Ltd. (Rs. 461.00,+2.16%), Larsen & Toubro Ltd. (Rs. 1445.65,+1.83%), Hero MotoCorp Ltd. (Rs. 3175.65,+1.35%), Tata Steel Ltd. (Rs. 469.90,+1.22%), among others.

On the flip side, Bharti Airtel Ltd. (Rs. 311.00,-1.69%), Wipro Ltd. (Rs. 477.85,-0.68%), Reliance Industries Ltd. (Rs. 1022.15,-0.53%), Power Grid Corporation of India Ltd. (Rs. 202.60,-0.32%), Infosys Ltd. (Rs. 942.30,-0.30%), were among top losers on BSE.

On the sectoral front, all the thirteen indices were trading in green while realty and consumer durable stocks were leading the gain, advancing as much as 1.77 per cent and 1.68 per cent respectively.

The market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 2711, shares advanced were 1479 while 1026 shares declined and 206 were unchanged.

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