Published: Tue, August 01, 2017
Markets | By Erika Turner

Markets create new records on strong corporate earnings

Markets create new records on strong corporate earnings

Stock markets ruled at the baseline level after a strong opening today, with capital goods and financials proving to be a big drag.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,412.20 points, traded at 32,462.92 points - up 153.04 points or 0.47 per cent, from its previous close of 32,309.88 points.

"Markets rallied further on Tuesday to close at new life highs".

Investors are looking forward to the announcement of the Reserve Bank of India's monetary policy meeting, which begins today, along with a slew of earnings numbers.

Among the sectoral indices, Nifty Auto index stole the show, with shares of Eicher Motors (up 4.88 per cent) as the top gainer.

The Nifty50 rose by 62.60 points, or 0.63 per cent, to close at 10,077.10 points, while the Sensex closed at 32,514.94 points - up 205.06 points or 0.63 per cent.

Shares of Tech Mahindra rose as much as 7.3 per cent before settling 4.12 per cent higher, a day after the company reported a better-than-expected rise in quarterly profit, helped by new clients for its digital services business.

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Earlier buying in auto, metal, healthcare, and energy lifted the Nifty to an all-time high.

The NSE Nifty closed at 10,114.65 - a new peak - up 37.55 points, or 0.37 per cent.

Major Sensex losers were: Lupin, down 1.36 per cent at Rs 1,018; ONGC, down 1.21 per cent at Rs 167.30; State Bank of India, down 1.20 per cent at Rs 308.80; Asian Paints, down 0.98 per cent at Rs 1,148.10; and Kotak Bank, down 0.67 per cent at Rs 1,012.90.

Market breadth was positive with 666 advances against 275 declines.

Yesterday, Foreign Portfolio Investors' sold equity shares worth Rs 11.45 crore at the end of the day while the debt investment stood at Rs 1,041.86 crore as per the data released by the NSDL (National Securities Depository Limited).

The US Dow Jones Industrial Average ended 0.28 per cent higher yesterday.

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