Sensex, Nifty close at record highs; Infosys leads gains
, ETMarkets.com|
Updated: Jan 11, 2018, 04.30 PM IST
NEW DELHI: The domestic equity market benchmarks Nifty50 and Sensex witnessed record closing highs on Thursday, backed by gains in heavyweights such as Infosys, Bharti Airtel and Kotak Mahindra Bank ahead of the announcement of key corporate results.
The Nifty50 index closed 19 points, or 0.18 per cent, up at 10,651, while 30-share Sensex settled 70 points, or 0.20 per cent, up at 34,503 on Thursday.
Top gainer Infosys advanced 2 per cent. The IT giant is all set to release its third-quarter results on Friday, the first earnings announcement under the new CEO Salil Parekh.
Brokerage firm KR Choksey Shares and Securities believes that Infosys may report a 1.4 per cent growth in dollar revenues for the third quarter of 2017-18
"We expect the EBITDA margin to decline by 20 bps on the back of an increase in the cost of services," the brokerage firm added.
On the other hand, private sector lender IndusInd Bank tanked nearly 2 per cent today. The bank reported a 24.73 per cent year-on-year jump in net profit at Rs 936.25 crore for December quarter. The numbers came much in line with a Rs 940 crore profit estimate that analysts had arrived at in an ETNow poll.
Wipro, Ambuja Cement and Cipla remained the other significant losers.
Midcap and smallcap stocks displayed better performance as both smallcap and midcap indices outperformed benchmark Sensex on Thursday. BSE Smallcap index hit a fresh record high of 20,089.
The Nifty Metal index remained the solitary index on the NSE which settled in the red. Losses in APL Apollo Tubes, Coal India, Vedanta and Hindalco weighed on the index.
Nifty Realty index jumped 2 per cent and hit a fresh 52-week high of 373.50 on Thursday, backed by gains in Oberoi Realty, Indiabulls Real Estate and Godrej Properties, each gaining over 3 per cent.
Out of total 50 stocks in the Nifty50 index, 24 closed the day in the green, while 26 closed in the red.
As many as 144 stocks hit fresh 52-week highs on NSE, compared with 9 stocks that hit fresh 52-week lows on Thursday.
Asian peers developed cold feet amid concerns about rising US protectionism. In another development, China said that it might stop buying US debt.
The Nifty50 index closed 19 points, or 0.18 per cent, up at 10,651, while 30-share Sensex settled 70 points, or 0.20 per cent, up at 34,503 on Thursday.
Top gainer Infosys advanced 2 per cent. The IT giant is all set to release its third-quarter results on Friday, the first earnings announcement under the new CEO Salil Parekh.
Brokerage firm KR Choksey Shares and Securities believes that Infosys may report a 1.4 per cent growth in dollar revenues for the third quarter of 2017-18
"We expect the EBITDA margin to decline by 20 bps on the back of an increase in the cost of services," the brokerage firm added.
On the other hand, private sector lender IndusInd Bank tanked nearly 2 per cent today. The bank reported a 24.73 per cent year-on-year jump in net profit at Rs 936.25 crore for December quarter. The numbers came much in line with a Rs 940 crore profit estimate that analysts had arrived at in an ETNow poll.
Wipro, Ambuja Cement and Cipla remained the other significant losers.
Midcap and smallcap stocks displayed better performance as both smallcap and midcap indices outperformed benchmark Sensex on Thursday. BSE Smallcap index hit a fresh record high of 20,089.
The Nifty Metal index remained the solitary index on the NSE which settled in the red. Losses in APL Apollo Tubes, Coal India, Vedanta and Hindalco weighed on the index.
Nifty Realty index jumped 2 per cent and hit a fresh 52-week high of 373.50 on Thursday, backed by gains in Oberoi Realty, Indiabulls Real Estate and Godrej Properties, each gaining over 3 per cent.
Out of total 50 stocks in the Nifty50 index, 24 closed the day in the green, while 26 closed in the red.
As many as 144 stocks hit fresh 52-week highs on NSE, compared with 9 stocks that hit fresh 52-week lows on Thursday.
Asian peers developed cold feet amid concerns about rising US protectionism. In another development, China said that it might stop buying US debt.
