Post Session: Sensex zooms 448 pts to end at record high, Nifty reclaims 9,500

25/05/2017 16:05

Snapping two-day losses, the Indian equities ended on robust note in a broad-based rally on Thursday, tracking firm cues from Asian peers, as investors were buoyed by the US Federal Reserve minutes which indicated a gradual pace in rate hikes due to weakness in economic activity. The market rally was also fueled by short-covering amid expiry of May futures and options contracts today. The broader markets, MidCap and SmalCap, after seeing correction in last few sessions, gained 1.35 per cent and 2.01 per cent. Among the individual stocks, Lupin plunged 7.3 per cent after the company reported a sharp fall of 49.2 per cent in its consolidated net profit after taxes (PAT) at Rs 380.21 crore for the January-March quarter of FY17, hurt by decline in US sales and one-time provisioning for patent litigation.

The 30-share barometer SENSEX closed at a new high of 30750.03, up by 448.39 points or by 1.48 per cent, and the NSE Nifty gained 149.2 points, or 1.59 per cent, to settle at 9509.75.

During the day’s trade, Sensex touched an intraday high of 30793.43 and intraday low of 30352.26, while the NSE Nifty touched intraday high of 9523.3 and intraday low of 9379.2.

Among others, Sintex Industries rallied nearly 85 per cent in intra-day amid spurt in volume trade as its stock has started trading ex-scheme of arrangement with effect from today.

The top gainers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1768.70,+4.97%), ICICI Bank Ltd. (Rs. 317.60,+3.52%), HDFC Bank Ltd. (Rs. 1617.15,+3.04%), Infosys Ltd. (Rs. 981.90,+2.97%), Tata Consultancy Services Ltd. (Rs. 2619.95,+2.43%), among others.

On the flip side, Lupin Ltd. (Rs. 1137.95,-7.31%), Dr. Reddy’s Laboratories Ltd. (Rs. 2427.30,-3.70%), Cipla Ltd. (Rs. 504.10,-3.12%), Sun Pharmaceutical Industries Ltd. (Rs. 591.80,-1.87%), Power Grid Corporation of India Ltd. (Rs. 198.70,-0.58%), were among the top losers on the BSE.

Among the sectors, capital goods and financial stocks emerged as top gainers, rising as much as 3.52 per cent and 2.82 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2997, shares advanced were 1945 while 884 shares declined and 168 were unchanged.

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