Post Session: Sensex ends 287 pts higher, Nifty breaches 9,300 for first time ever on global cues Analysis for Apr 25, 2017

Posted By: Religare
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The Indian equities ended higher for the second straight session on Tuesday, with Nifty50 hitting all-time high of 9,300, amid sustained buying by domestic institutional investors and retailers, following upbeat earnings report. The market sentiment got a lift after Reliance Industries reported better-than-expected growth of 12.3 per cent in its consolidated net profit after taxes at Rs 8,046 crore for the January-March quarter of FY17, buoyed by higher refining and petrochemical margins. Globally, Asian markets ended in positive terrain, while European stocks traded higher as the win for pro-market presidential candidate Emmanuel Macron in the first round of the French presidential election boosted the appetite for riskier assets.

Post Session: Sensex ends 287 pts higher, Nifty breaches 9,300 for first time ev

The BSE SENSEX closed at 29943.24, up by 287.4 points or by 0.97 per cent, and the NSE Nifty ended at 9306.6, up by 88.65 points or by 0.96 per cent.

Public sector lender Indian Bank rallied 9 per cent after reporting over threefold jump in its standalone net profit at Rs 319.70 crore during the January-March quarter of 2017-18, helped by strong growth in net interest income, operating profit and tax credit.

During the day"s trade, the BSE Sensex touched intraday high of 29961.82 and intraday low of 29780.84, while the NSE Nifty touched intraday high of 9309.2 and intraday low of 9250.35.

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1307.50,+3.40%), Axis Bank Ltd. (Rs. 515.15,+3.40%), Bharti Airtel Ltd. (Rs. 354.15,+3.18%), Hero MotoCorp Ltd. (Rs. 3298.60,+2.93%), Asian Paints Ltd. (Rs. 1094.00,+2.40%), among others.

Meanwhile, Tata Consultancy Services Ltd. (Rs. 2311.30,-0.76%), Cipla Ltd. (Rs. 552.85,-0.58%), GAIL (India) Ltd. (Rs. 411.60,-0.39%), NTPC Ltd. (Rs. 165.70,-0.30%), HDFC Bank Ltd. (Rs. 1531.50,-0.08%), were among top losers on BSE.

On the sectoral front, all the indices ended in green, while FMCG and realty stocks emerged as top gainers, rising as much as 1.67 per cent and 1.26 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3253, shares advanced were 1545 while 1525 shares declined and 183 were unchanged.

Read more about: sensex, nifty, market
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