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MARKET WRAP: Sensex ends at new closing high of 37,337; ITC up 5% post Q1

SI Reporter/New Delhi 27 Jul 18 | 08:15 AM

The benchmark indices ended at record closing  high for the second straight session on Friday on strong quarterly results. The gains were led by index heavyweights like ITC,  RIL, and Hindalco.

The S&P BSE Sensex settled at a record high of 37,337, up 352 points, while the broader Nifty 50 index settled at a new high of 11,278, up 111 points.

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In intra-day deals,  the S&P BSE Sensex hit a fresh all-time high of 37368.62 while the Nifty50 index touched its record high level of 11,283.40. 

Leading the gains is ITC, which has surged over 5 per cent on the BSE. Beating street estimates, diversified conglomerate ITC on Thursday posted a 10.07 per cent jump in its net profit at Rs 28.19 billion for the quarter ended June 30, 2018 with its total revenue, inclusive of other income, registered at Rs 112.78 billion.

Among other gainers, Reliance Industries was among the top contributors to the NSE index, up over 1.5 per cent ahead of its quarterly results later in the day. The oil-to-retail conglomerate will also report results of its telecom arm Reliance Jio.

Nifty Bank index also hit an all-time high, ending 0.8% higher for the day. IDFC Bank, Federal Bank, and Axis Bank were the top gainers in the pack, up between 2 per cent to 2.6 per cent

GLOBAL MARKETS

Global stocks rose on Friday as strong company earnings reports and an easing of transatlantic trade tensions on an agreement between the United States and Europe this week to try to cut trade barriers boosted investor confidence.

The MSCI All-Country World Index, which tracks shares in 47 countries, was up 0.1 per cent after the start of European trading.

European stocks also inched up in early trade and were set to end the week at six-week highs, helped by easing fears over US tariffs and good company results.

Chinese shares underperformed an uptick in Asian shares, with the main Shanghai index in the red for most of the day. Traders attributed this to a still unresolved standoff between the US and China on trade.

(with Reuters inputs)

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Sensex

Company Price Gain (%)
Sun Pharma.Inds.601.656.91
Yes Bank381.752.87
ICICI Bank332.302.17
Axis Bank618.302.15
Reliance Inds.1,210.952.00

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