Sensex, Nifty Clock Fourth Weekly Gain On Earnings Cheer
Closing Bell: Nifty Settles At Record High Led By ITC, ICICI Bank
India's NSE Nifty 50 index rose to a fresh all-time closing high, as investors cheered strong earnings by Indian companies in April-June quarter.
The S&P BSE Sensex rose 0.75 percent or 284 points to 37,947.88 and the NSE Nifty 50 index climbed 0.75 percent or 86 points to record closing high of 11,470.75.
On a weekly basis, the benchmarks extended gains to fourth week with the Sensex advancing 0.21 percent and the Nifty rising 0.36 percent.
Three-fourths of the Nifty 50 companies either surpassed or met forecasts in April-June quarter, the highest in at least three quarters, according to data compiled by BloombergQuint.
In today’s trade, all sector gauges compiled by National Stock Exchange ended higher led by the Nifty PSU Bank index’s 3.02 percent surge.
The mid- and small-cap shares outperformed their larger peers as the Nifty Midcap 100 and Nifty Smallcap 100 indexes rose 1 percent.
Avenue Supermarts Reclaims Rs 1 Lakh Crore In Market Value
Shares of the parent of DMart department store operator rose as much as 4.5 percent to Rs 1,634.
With today's surge in share price, the company reclaimed Rs 1 lakh crore in market capitalisation. The market cap of Avenue Supermarts rose by Rs 43,500 crore, according to Bloomberg.
GMR Infra Surges After Block Deal
- GMR Infra has 13.3 lakh shares change hands in a block. Stock up 7.9 percent at Rs 19.00.
Buyers and sellers were not immediately known
Reliance Communications Challenges Spectrum Trading Norms In Top Court
Shares of the Anil Ambani-led company rose 4 percent to Rs 19.30.
The company has challenged spectrum trading norms in the Supreme Court and a two-judge bench headed by Justice Rohinton Nariman today stayed a telecom tribunal order that rejected Reliance Communications' plea against spectrum sale and trading guidelines.
"Department of telecom had demanded around Rs 4,200 crore from RCom to allow sale or trading of spectrum auctioned in 2013 and later acquired by RCom," the company's lawyer Shally Bhasin said.
Sensex Reclaims 38,000 Led By ITC, ICICI Bank
India's S&P BSE Sensex reclaimed 38,000 mark led by ITC, ICICI Bank, State Bank of India and Hindustan Unilever.
The S&P BSE Sensex rose 0.9 percent or 346 points to 38,008 and the NSE Nifty 50 index climbed 0.84 percent or 96 points to 11,481.
The overall market breadth remained positive as 1,613 shares were advancing while 1,002 were declining on the BSE.