Published: Wed, October 25, 2017
Tech | By Dwayne Harmon

Sensex Marginally up at 32586, Nifty Above 10000

Sensex Marginally up at 32586, Nifty Above 10000

Mumbai: The BSE Sensex on Tuesday extended gains by 100 points and the NSE Nifty scaled the 10,200-level amid optimism ahead of quarterly earnings from heavyweights.

The NSE index Nifty too climbed 34.25 points, or 0.33 per cent, to trade above the 10,200-mark at 10,219.10.

The 30-share index closed higher 116.76 points or 0.36 per cent at 32,506.72.

The Nifty was up 0.35 per cent at 10,220.85 as of 0539 GMT, driven by HDFC Bank and ICICI Bank Ltd. The scrip rallied to an intra-day high of 501.45, while achieving a 23.65 point gain in the day.

The sentiment got support better-than-expected earning results by select companies and continuous buying by domestic financial institutions.

The broader markets depicted a firm trend as investors raised bets on hopes of encouraging earnings, lifting the small-cap index by 0.56 per cent and mid-cap index by 0.21 per cent.

According to market observers, healthy buying was witnessed in oil and gas, IT and banking stocks.

On the other hand, Tata Motors (0.95%), Sun Pharmaceutical Industries (0.87%), Mahindra & Mahindra (0.54%), Larsen & Toubro (0.42%), Reliance Industries (0.23%), and Adani Ports and Special Economic Zone (0.22%) were the major losers in the Sensex.

However, IT, pharma and auto fell by 1.03 per cent, 0.55 per cent and 0.27 per cent, respectively.

Most Asian stocks shrugged off overnight declines in the United States stocks, where a gauge of equity volatility climbed as market participants assessed the recent rally in global stocks before a slew of earnings reports.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

Shares of Asian Paints were the biggest gainer on Sensex today, rose as much as 4.1% to Rs 1,220.5 after the company reported a rise of 21% in second-quarter profit to Rs 576 crore.

The Sensex was 0.33 per cent higher at 32,614.44.

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