INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Earnings optimism played out in full force in stocks today as the Sensex closed above the 37,000 mark for the first time and
Nifty broke through the 11,200 level
The stellar show came on widespread buying led by consumption and capital goods sectors
In the process, the August series of derivatives contracts got off to a dream start.
Better than expected earnings, rising rupee, easing oil
prices, firm global cues and continuous capital inflows gave the bulls enough fodder.
Led by buying in consumption and capital goods, the
BSE barometer settled up 352 points, or 0.95 per cent, at 37,337
A good 21 stocks advanced and 10 declined
The Nifty finished at 11,278, up 111 points, or 0.99 per cent, with 35 stocks advancing and 15 losing out.
For the week, the Sensex added
2.30 per cent and the Nifty 2.44 per cent.
The rupee rose against the dollar for the third consecutive day and oil prices inched lower on
Investors took comfort from positive global cues as the US and European Union agreed to work together to mitigate the possibility of a
Heavyweights, including ITC, Reliance Industries, ICICI Bank and HDFC were the key drivers of today's rally.
The FMCG major ITC alone
contributed a rise of nearly 130 points on the Sensex on Friday
The scrip rallied more than 5 per cent post Q1 earnings, dethroning Hindustan Unilever as the most valuable FMCG company in India.
TCS,
Maruti Suzuki, Hindustan Unilever and Power Grid Corporation failed to give a good account of themselves today
BSE Midcap and Smallcap indices were mostly in line with the benchmark Sensex
The midcap index closed 0.95 per cent up at 15,913 and smallcap 0.88 per cent at 16,450.
Biocon rallied 5 per cent on Friday after the
biotechnology major reported a 47 per cent rise in consolidated net profit at Rs 120 crore for the quarter to June 2018 on robust
performance across segments
Reliance Industries and ICICI Bank logged decent gains ahead of their June quarter earnings
All sectoral indices but IT ended up in the green zone
BSE IT slipped 0.02 per cent, with TCS, Infosys and Mindtree languishing
European markets were in positive territory as trade war fears ebbed
Among Asian peers, Shanghai SE Composite fell 0.30 per cent
