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Markets@Moneycontrol: Early diwali with Nifty closing at record high

14 October 2017

Buying activity picked up momentum on positive economic data after industrial production grew to a 9-month high of 4.3 per cent in August while retail inflation came in at 3.28 per cent in September, unchanged from August.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,247.74 points, traded at 32,405.04 points - up 222.82 points, or 0.69 per cent, from its previous close. The index was up 1.81 per cent for the week.

BSE Small Cap index gained 22 points or 0.13 per cent to end at 16,925.66 as shares of Shivam Auto, Electrosteel Castings, ESL, PolyPlex, TCI Express, TTML and Sanwaria rallied up to 13 per cent. It rose 1.94 per cent for the week, its biggest such gain since the week ended July 14.

Shares of Bharti Airtel on Friday gained over 8 percent - the highest in five months - after the country's largest telecom operator on Thursday announced it would acquire Tata Teleservices in a debt-free cash-free deal.

The banking sub-index of NSE - Nifty Bank - jumped over 1.5 per cent to 24,769.55, as investors rushed to buy banking stocks rate cut hopes. Tata Steel, Kotak Bank, Coal India, HDFC Bank and ICICI Bank had a field day, surging by up to 2.86 per cent.

Andra AP fonden Acquires 11100 Shares of NextEra Energy, Inc. (NEE)
It is flat, as 0 investors sold Broadcom Ltd shares while 3 reduced holdings. only 0 funds opened positions while 3 raised stakes. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company.

Upbeat second-quarter results pushed shares of Tata Consultancy Services Ltd (TCS) to their highest since June 7.

"With domestic investors dipping their toes in the equity markets at an accelerated pace, the process of making new highs in the markets are likely to continue beyond the immediate highs". While quarterly profit slid marginally year-on-year, analysts say margin recovery was the key positive.

Asian stocks held firm near a 10-year high on Friday thanks to expectations of brisk global growth, although investors held off chasing the shares higher ahead of United States and Chinese economic data as well as the Chinese Communist Party congress next week.

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Markets@Moneycontrol: Early diwali with Nifty closing at record high