A bystander looks at an electronic screen displaying stock quotes outside of the Bombay Stock Exchange in Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg News)

Sensex Ends Above 36,100; Nifty Scales 11,000 Amid Earnings Optimism  

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Indian equity benchmarks extended their record run to fifth day led by strong gains in metal, banking, IT and oil & gas shares amid earnings optimism.

Of the 18 Nifty members that have reported earnings so far this season, 12 have beaten or matched estimates, data compiled by Bloomberg show.

Both the S&P BSE Sensex and NSE Nifty 50 Index settled above their crucial psychological levels of 36,000 and 11,000, respectively.

The Sensex rose 0.96 percent or 342 points to 36,139.98 and Nifty climbed 1.07 percent or 117 points to 11,084.

The broader markets were mixed in trade as the S&P BSE MidCap Index rose over 1 percent while the S&P BSE SmallCap Index edged 0.2 percent higher.

All sector gauges compiled by BSE ended higher barring the S&P BSE Consumer Durables Index. Gains in today's session were led by the S&P BSE Metal Index's over 4 percent surge. Banking, IT and Oil & Gas indices also rose over a percent each.

Sensex Ends Above 36,100; Nifty Scales 11,000 Amid Earnings Optimism  

Delta Corp Surges In Last Thirty Minutes Of Trade

Shares of the Pune-based casino chain operator rose as much as 14.69 percent to Rs 401.60 in the last hour of trade on the back of heavy volumes as 19.7 lakh shares changed hands on the BSE compared with an average of 9.35 lakh shares traded daily in the past two weeks.

Sensex Ends Above 36,100; Nifty Scales 11,000 Amid Earnings Optimism  

Fab Four Stocks Of The Day

Rane Madras: The Chennai-based auto parts maker was locked in 20 percent upper circuit at record high of Rs 863 on the back of strong December quarter earnings.

Key earnings highlights:

  • Revenues up 32 percent at Rs 318 crore versus Rs 241 crore
  • Net profit up 318 percent at Rs 14.2 crore versus Rs 3.4 crore
  • EBITDA up 85 percent at Rs 37 crore versus Rs 20 crore
  • Margins at 11.6 percent versus 8.3 percent

Hathway Cables: The Mumbai-based cable TV service provider rose as much as 16 percent to Rs 48.50 after 30 lakh shares change hands in two block deals.

Havells India: The Noida-based electrical appliances maker rose as much as 6.36 percent to record high of Rs 587.80 after Credit Suisse maintained its ‘outperform’ rating on the stock and raised its target price to Rs 635 from Rs 600.

Jet Airways: The Mumbai-based airline rose more than 5 percent to Rs 823 on the back of report that domestic air traffic surged 17.4 percent in December to cross the 100-million mark for the first time in 2017.

Countdown

ONGC Gets Approval To Sell Stake In Indian Oil, GAIL India

Shares of the state-run oil explorer rose as much as 3.76 percent to Rs 208.25 after it got government's approval to sell its stake in GAIL India and Indian Oil, news agency Press Trust of India reported.