Sensex rises 132 points, Nifty reclaims 10,500

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Mumbai, Oct 15: Benchmarks began the week on a good note as investors shrugged off any negativity from global markets and a rising crude. In fact, they also looked past the rise in inflation in consumer price as well.
The Sensex ended the day over 130 points higher, while the Nifty reclaimed 10,500 and closed above it.
Information technology and pharmaceuticals were the major gainers of the day, while sector such as automobiles and metals lost some sheen.
HDFC Bank provided major support to the Bank Nifty, while ICICI Bank was a drag on the index.
However, the highlight of the day was the performance of midcaps segment. The Nifty Midcap ended a percent higher, outperforming the benchmarks. As such, it was a volatile day of trade, which began on a subdued note. Rangebound moves dominated in the first hour of trade, followed by some surge on the benchmarks. Heavyweights such as Reliance, Infosys and HDFC twins provided support to Sensex and the Nifty.
But traders looked to build on gains in the last hour, thereby helping key indices close with additions of over one-third of a percent.
At the close of market hours, the Sensex ended up 131.52 points or 0.38% at 34865.10, while the Nifty rose 40 points or 0.38% at 10512.50. The market breadth is positive as 1,637 shares advanced, against a decline of 965 shares, while 895 shares were unchanged. Infosys, ITC, Dr Reddy’s and Cipla were the top gainers, while Mahindra & Mahindra, HUL, and Bajaj Finserv lost the most.
“The market traded in a rangebound manner and ended on a positive note. However negative sentiments over a slowing world economy due to trade war and rising cost of funds is continuing to impact the market. The rupee continued to be under pressure as oil prices started to move-up due to sudden spurt in tension between US & Saudi Arabia,” Vinod Nair, Head of Research at Geojit Financial Services said in a statement.
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Shares of IT major, Infosys, rose around 3 percent ahead of its September quarter results’ announcements on October 16, 2018.
Dr Reddy’s Laboratories rose nearly 5 percent as the firm announced the sale of its API manufacturing business unit.