October 22, 2018

Sensex Moves Higher, Nifty Near 10500; Midcaps Outperform: 10 Updates

09 February 2018, 01:43 | Austin Hogan

Sensex Moves Higher, Nifty Near 10500; Midcaps Outperform: 10 Updates

Markets breathe easy after 7 days earnings global cues lift mood

The BSE Sensex was 420 points up at 34,503 while NSE Nifty was 117 points up at 10,593. While the Sensex fell 113 points when the closing bell was sounded, the Nifty closed below 10,500 mark. Market participants said that investor sentiments got a boost from improved outlook on economic growth and a decline in crude oil prices.

According to the provisional data released by the stock exchanges, foreign portfolio investors (FPI) offloaded shares worth Rs 2,297 crores.

The Sensex touched a high of 34,634.35 points and a low of 34,108.76 points during intra-day trade.

Volatility index India VIX slipped 8.59% at 17.7925.

Market insiders feel that healthy buying in banking, metals, auto and healthcare stocks added to the upward trajectory of the key indices. The BSE Bankex rose 324 points or 1.12% to 29,396 level.

Among the 50 stocks in the Nifty50 index, 41 were trading in the green, while 9 were in the red.

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US Attacks Pro-Assad Forces In Syria, Escalating Tensions
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On the Nifty, most valued stock was Galaxy Surfactants which closed 13.44% higher after making its debut on bourses today. Face value per share is Rs 5.

The broader markets outperformed benchmarks, with the Nifty Midcap rising 1.8 percent and BSE Smallcap index gaining 2.25 percent on strong breadth. 118 stocks were unchanged. Net sales were up 30 percent at Rs 3,417 crore.

New Delhi, Feb 8 Shares of drug maker Cipla today surged almost 8 per cent, a day after the company reported 7 per cent rise in profit for the third quarter ended December 2017.

It was at Rs 990.01 crore in the same period of previous fiscal, Bharat Forge said in a regulatory filing.

Its revenue from operations stood at Rs 1,390.55 crore.

The company's consolidated revenue rose 7 per cent to Rs 3,914 crore in the quarter, compared with Rs 3,647 crore in the corresponding period a year ago.

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