Sensex, Nifty Clock Fresh Record Highs For A Third Day, Tata Steel Climbs
Indian shares extended their record closing streak, led by miners amid better-than-expected quarterly earnings.
The S&P BSE Sensex rose 0.25 percent at 30,658 while the NSE Nifty advanced 0.14 percent to 9,525. Both the indexes hit all-time highs for the fourth time in six sessions.
Among the sectoral indices, S&P BSE Metal index gained 2.4 percent while the S&P BSE Auto rose 0.6 percent.
The market breadth was skewed in the favour of losers, with about 5 stocks declining to every 4 stocks that advanced.
Nifty Headed For 9,700?
"Nifty is heading towards 9,700 and we could see those levels coming-in over the course of next 45 days or so. With every fresh breakout, we are seeing Nifty consolidating and moving in a very narrow range rather than witnessing a huge breakout," said Dhaval P Vyas, founder & chief market analyst at www.dhavalpvyas.com.
"Traders are basically holding long positions and we are seeing new money flowing into the markets, so momentum remains positive," said Vyas.
Allahabad Bank Falls As Bad Loans Rise In Q4
- Shares down as much as 3% to Rs 86.80
- Q4 net income Rs 111 crore vs loss Rs 581 crore last year
- Gross NPA 13.1% end-March vs 12.51% end-December
- RSI at 71, indicating that the stock may be overbought
Bajaj Finance Falls As Q4 Provisions, Loan Losses Swell
- Shares down as much as 3.7% to Rs 1,297, the most since December 2016
- Q4 provisions, loan losses Rs 290 crore vs Rs 157 crore last year
- Q4 net income meets estimate
- Volume at 2.4 times its 30-day average
Sensex Gains 100 Points; Nifty Above 9,500
Here are the top Nifty gainers and losers at this hour: