Sensex goes past 35K-mark, Nifty over 10700 points

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The benchmark Sensex of the Bombay Stock Exchange (BSE) reclaimed the 35000 mark and Nifty went past 10700 today on sustained buying by participants, driven by strong corporate earnings and positive global cues.

The 30 share barometer crossed 35000-mark by expanding 228.73 points (0.65 percent) at 35198.43 in early trade. Earlier the gauge had rallied 468.43 points in the previous two sessions.

Sectoral indices led by banking, Teck and IT were trading in the positive zone with gains up to 1.89 percent.

The broader 50 share NSE Nifty reclaimed the 10700 mark by gaining 62.70 points (0.58 percent) to 10755.

Major gainers were Yes Bank, Adani Ports, Wipro, Infosys, TCS, HDFC Bank, Kotak Bank, L&T, Sun Pharma, Bajaj Auto and Asian Paints, rising up to 2 percent.

Shares of Reliance Industries, however, fell 1.43 percent after it announced to shut plans to shut oil and gas production. It had reported a 17.3 percent rise in its Q4 net profit on the back of robust petrochemicals margins and telecom arm Jio’s maiden profits on Friday.

Axis Bank shares fell over 3 percent on weak earnings posted last week, making it the biggest loser on Sensex.

Meanwhile, on a net basis, Foreign Portfolio Investors (FPI) sold shares worth Rs 759.21 crore while Domestic Institutional Investors (DIIs) bought shares worth Rs 633.71 crore on Friday, a provisional data showed.

In other Asian markets, Hong Kong’s Hang Seng was up 1.56 percent. Stock markets in Japan and China were shut today for Public holidays.

The US Dow Jones Industrial Average had ended 0.05 percent lower in Friday’s trade.

Also Read: Shikha Sharma to step down as Axis Bank CEO at the end of 2018

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