Market Live: Nifty breaches 9,950, Sensex at record high, RIL stock hits Rs1,600 apiece

Mumbai: The BSE Sensex hit a record high of 32,232.63 points and Nifty touched life-time high of 9,968.95 on Monday on buying in oil and gas, IT and banking stocks after better-than-expected financial results. Gains in Reliance Industries Ltd (RIL), FMCG major ITC, Infosys, ICICI Bank and SBI helped the indices scale new peaks in early trade. The 30-share Sensex broke its previous intra-day record of 32,131.92, which it hit on 17 July. All the sectoral indices, led by IT, oil & gas, bank, PSU and teck, were trading in the positive zone with gains up to 0.5%.

Among Sensex stocks, RIL maintained its upward journey and climbed 1.28% to Rs1,606.50, mostly on the back of robust earnings and announcement of a bonus issue in the rate of one share for every share held. Other top performers during initial trade were Wipro, Hero MotoCorp, State Bank of India, Lupin, Bharti Airtel, ICICI Bank, Kotak Bank, Infosys, Axis bank, ITC Ltd and TCS, rising by up to 1.43%. Continued buying by foreign funds and domestic institutional investors (DIIs) helped the key indices to hit record highs, brokers said. Here are the latest updates

11.15am: Bharti Airtel stock rebounds to trade at Rs414, 0.72% higher than the previous session’s closing on BSE. Sensex trades at 32,213, while NSE Nifty trades at 9,962.60 points.

11.00am: BSE Sensex trades higher by 192 points, or 0.60%, to 32,221, while the Nifty 50 rises 52 points, or 0.52%, to 9,967. Reliance Industries (RIL) shares trade 2.32% higher at Rs1,623.00 on BSE on Monday.

10.00am: BSE Sensex trades higher by 141 points, or 0.44%, to 32,170, while the Nifty 50 rises 31 points, or 0.31%, to 9,946.

9.45am: MRPL fell 3% to Rs123 after the company reported a net profit of Rs234.01 crore in June quarter, down 67.4% from Rs718.49 crore a year ago.

9.40am: Sterlite Technologies Ltd surged for fourth consecutive sessions and gained 50% in this period. So far this year it gained 146%. The stock gained 7% to Rs236.50 in Intraday.

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9.35am: Persistent Systems Ltd fell 3% to Rs637.65 after the company reported 5.7% decline in its net profit in June quarter to Rs75.11 crore against Rs79.67 crore a year ago.

9.30am: JP Group stocks trade higher. Jaiprakash Power Ventures Ltd surged 17%, Jaypee Infratech Ltd 6%, Jaiprakash Associates Ltd 6%.

9.27am: Vijaya Bank rose 2.3% to Rs75 after the bank reported 57.5% increase in its net profit to Rs254.69 crore against Rs161.66 crore a year ago.

9.24am: Divi’s Labs Ltd fell 5% to Rs688.50 after the company reported 41.5% decline in its June quarter net profit to Rs176.54 crore against Rs301.81 crore a year ago.

9.22am: Jammu & Kashmir (J&K) Bank rose 7% to Rs89.20 after the bank reported 32% increase in its June quarter net profit to Rs30.19 crore against Rs22.88 crore a year ago.

9.20am: Thirumalai Chemicals Ltd rose 13% to Rs1,196.15 after the company reported 64% increase in its net profit to Rs33.21 crore against Rs20.24 crore a year ago.

9.18am: GVK Power & Infrastructure Ltd rose 13% to Rs11.25 after 21 July 2017: Porinju Veliyath, through his portfolio management company Equity Intelligence India Pvt. Ltd, on Friday bought 1.88 crore shares in the company.

■ 9.15am: The rupee opened at 64.41 a dollar. At 9.15am, the rupee was trading at 64.43 a dollar, down 0.17% from its Friday’s close of 64.32.

■ 9.10am: The 10-year bond yield was at 6.439%, compared to its previous close of 6.436%. Bond yields and prices move in opposite directions.

■ 9.00am: South Korean won was up 0.1%, Japanese yen 0.08%, Hong Kong dollar 0.05% and China renminbi 0.05%. However, Philippines peso was down 0.05%, China offshore 0.04%, Taiwan dollar 0.03% and Indonesian rupiah 0.03%.

With inputs from PTI

First Published: Mon, Jul 24 2017. 09 38 AM IST

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