INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Indian stock market continued with it record-setting spree on Tuesday, as BSE benchmark Sensex rose for a eighth straight session
on sustained buying in heavyweights, Reliance Industries, Hindustan Unilever and Infosys.
Sensex closed at a fresh peak of 37,606, with a
gain of 112 points, or 0.30 per cent,
The NSE counterpart Nifty too marked a new high, closing at 11,357, up by 37 points or 0.33 per
cent.
Sensex traded in the lower terrain for most of the day as investors held their bets down, awaiting the outcome of RBI's monetary
policy meet that concludes on Wednesday.
However, the market barometer staged a sharp comeback in the fag-end on value buying in select
bank, auto and energy stocks
"Market found strong support at lower levels and managed to bounce back smartly in last hour of trade
Considering the recent spike in the inflation rate, the fears of interest rate hike has increased
However, the commentary on the future outlook of interest rates/inflation would hold importance
Further with on-going corporate earnings season stock-specific volatility is likely to remain high, said Jayant Manglik, president, Religare
Broking.
Global cues also improved after Bank of Japan (BoJ) said it would keep the interest rates low
The Bank of Japan took measures to make its massive stimulus programme more flexible and pledged to keep interest rates low for the time
being on Tuesday, Reuters reported
Investors now await the US Federal Reserve's guidelines, expected on Wednesday.
Reliance Industries jumped over 3 per cent on Tuesday,
knocking off TCS to become India's largest company in terms of market capitalisation
IT firms Tech Mahindra and HCL Tech witnessed decent traction today, buoyed by June earning numbers.
Tech Mahindra reported a 12.4 per cent
rise in consolidated net profit for the first quarter ended June 2018
HCL Technologies on Friday reported a 10.7 per cent year-on-year rise in profit at Rs 2,403 crore, which was ahead of Rs 2,340 crore
estimated by analysts in an ETNow poll
Among the Sensex losers, Axis Bank stood at the front, falling over 3 per cent
HDFC, ITC, ICICI Bank and State Bank of India too stood among the top losers in the index.
Idea Cellular suffered strong losses today
The scrip fell over 5 per cent even as the telecom company on Monday posted a consolidated net profit of Rs 256.50 crore for the quarter to
It had suffered a net loss of Rs 814.90 core in the same quarter last year
InterGlobe Aviation (IndiGo) plunged 7.49 per cent after the company reported a 97 per cent plunge in its net profit for the April-June
quarter, due to a weak operating performance
Midcaps and smallcaps stood mostly in line with the benchmark Sensex
The BSE Midcap settled 0.33 per cent up, whereas the smallcap index closed the day 0.26 per cent up.
BSE Bankex, finance and utilities ended
up in the red zone, while all other went home with gains
UK's FTSE 100 and CAC 40 of France were trading with small gains, but DAX of Germany was in the red
Among the Asian peers, Hang Seng finished in the red, while rest managed to settle in the green
