Sensex Ends At 5-Month High As Focus Shifts To June Quarter Earnings
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Closing Bell: Sensex Ends At 5-Month High Led By Reliance, Infosys
India's Sensex rose to its highest level in five months as investors shifted focus to June quarter earnings which begin today with Dish TV and Uttam Galva Steels.
The S&P BSE Sensex rose 0.78 percent or 277 points to 35,935, its highest level since Jan. 31, 2018, and the NSE Nifty 50 index climbed 0.74 percent or 80 points to 10,853.
Reliance Industries, Infosys, Larsen & Toubro and Yes Bank led the rally for Sensex in today's session.
All sector gauges compiled by BSE ended higher led by the S&P BSE Energy and S&P BSE Capital Goods indexes’ 1.5 percent gain.
The mid- and small-cap shares outperformed their larger peers as the S&P BSE MidCap and S&P BSE SmallCap indexes rose over a percent each.
Dr Reddy's Labs Rises On Agreement With UCB For Epilepsy Drug
Shares of the Hyderbad-based drugmaker rose as much as 2.86 percent to Rs 2,334 after it enteres into an agreement with UCB India, a biopharmaceutical firm, to co-promote and distribute drug to treat epilepsy in India.
Dr Reddy's Labs and UCB India will distribute Briviact (brivaracetam), which is approved as an adjunctive therapy for the treatment of partial-onset seizures in epilepsy patients who are 16 years of age and older.
Sterlite Technologies, V-Mart Among Fab Four Stocks Of The Day
- Sterlite Technologies: The Pune-based optical fiber cable maker rose as much as 6.58 percent to Rs 308.65 as its arm plans to acquire Metallurgica Bresciana, a European specialised optical cable manufacturer, for 47 million euros in an all-cash deal.
- V-Mart: The Delhi-based department store chain operator rose as much as 17 percent to record high of Rs 3,294. Jefferies has maintained its hold call on the stock and it said in a note that V-Mart will be a key beneficiary of increase in MSP for crops.
- GVK Power: The Secunderabad-based power plant operator rose by its daily maximum limit of 5 percent to Rs 10.05 after achieved 'financial closure' for 1st phase of construction of Navi Mumbai Airport on July 7.
- Asian Paints: The Mumbai-based paint maker rose as much as 3.4 percent to record high of Rs 1,367 on heavy volumes. Trading volume was 1.4 times its 20-day average.
Union Bank Of India Pares Gains After Block Deal
- Union Bank of India has 17.3 lakh shares change hands in a block. Stock up 0.2 percent at Rs 81.45.
Buyers and sellers were not immediately known