Sensex Extends Record Streak, Nifty Breaks 9,500 For First Time
Sensex, Nifty extend record gains; PNB jumps on easing bad loans.
- Oldest First
Closing Bell
Indian shares extended their record-setting streak, pushing the NSE Nifty index above 9,500 for the first time, led by gains in financials and auto stocks amid improving prospects of a good monsoon.
The S&P BSE Sensex rose 0.86 percent at 30,582 while the NSE Nifty advanced 0.71 percent to 9,512. Both the indexes hit all-time highs for the third time in five sessions.
Among the sectoral indices, S&P BSE IT index and the S&P BSE Realty gained 1 percent each.
The market breadth was skewed in the favour of gainers, with about 5 stocks advancing to every 4 stocks that declined.
And The Rally Goes On...
"Risk-on trade is in full swing with both domestic and FIIs (foreign institutional investors) buying heavily and this could get impacted if there's any geopolitical concern", said Deepak Jasani, head of retail research at HDFC Securities.
"Index could go sideways in the near-term but we don't see any big correction happening at the current levels," said Jasani.
Nifty Hits 9,500 For The First Time
In conversation with Deven Choksey, MD, KR Choksey Investment Managers.
Sobha Gains Ahead Of Q4 Earnings
PNB Extends Gains As Q4 Bad Loans Drop
- Shares advanced as much as 6.3% to Rs 177, the most since November 2016
- Q4 net income Rs 262 crore vs estimate Rs 447 crore
- Gross NPA 12.53% end-March vs 13.70% end-December
- Q4 provisions Rs 5,750 crore vs Rs 9,880 crore last year
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