Sensex gains 370 points, Nifty ends at 11787; Adani Green up 18%

Sensex gains 370 points, Nifty ends at 11787; Adani Green up 18%
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Mumbai, Apr 16: Benchmark indices ended on a strong note on Tuesday after hitting fresh record highs in the intra-day trade on Tuesday. The S&P BSE Sensex hit a new lifetime high of 39,364.34 in the trade while the broader Nifty50 index of the National Stock Exchange (NSE) surpassed 11,800 level to hit a record of 11,810.95.
At close, the 30-share index Sensex of BSE ended at 39,276, up 370 points or 0.95 per cent while Nifty closed at 11,787, up 97 points or 0.83 per cent.
In the broader market, the S&P BSE MidCap index ended 19 points or 0.12 per cent higher at 15,521, while the S&P BSE SmallCap index closed at 15,172, up 57 points, or 0.37 per cent.
Among sectoral indices, private bank stocks gained the most, followed by financial services and auto stocks.
The overall market breadth was neutral as 1,284 shares ended higher while 1,285 closed lower on the BSE.
BUZZING STOCKS
Jet Airways ended around 8 per cent lower at Rs 241.50 apiece on the NSE after reports suggested the airline may shut down its opeartions temporarily.
Tata Consultancy Services (TCS) hit a six-month high, extending its Monday’s 5 per cent rally on the BSE, after the company reported better than expected 2.4 per cent growth in constant currency (CC) revenue in the March 2018 quarter of financial year 2018 – 19 (Q4FY19). The stock settled at Rs 2,132 apiece on BSE, up over 1 per cent.
Polycab India shares made a strong stock market debut by listing at Rs 633, an 18 per cent hike against its issue price of Rs 538 per share on the BSE. The stock ended at Rs 655.00, up 3.48 per cent.
SpiceJet shares extended gains to the fourth day as investors bet that the airline will be able to increase capacity amid Jet Airways’s financial woes. SpiceJet shares rose 11% today. Jet Airways shares fell 7% after reports, citing sources, said that the management of airline has proposed to suspend all operations of the debt-laden airline at its board meeting today.
IndusInd Bank was top gainer in the Nifty 50 basket of shares, the stock rose 3.95 per cent to close at Rs. 1,818. ICICI Bank, Titan, ONGC, Adani Ports, Grasim Industries, Asian Paints and Larsen & Toubro were also among the gainers.
On the flipside, Wipro, Cipla, GAIL, Tata Motors, Infosys and Zee Entertainment were among the laggards.
GLOBAL CUES
Asian stocks ticked up on Tuesday, staying near a nine-month high as hopes of stabilization in the Chinese economy helped investors shrug off Wall Street’s underperformance that followed disappointing bank earnings.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, led by gains in China and India. Mainland Chinese shares rose 1.7 per cent, partly on brisk home prices data while Japan’s Nikkei edged up 0.2 per cent.