Published: Tue, January 23, 2018
Finance | By Loren Pratt

Key Indian equity indices open at fresh highs

Key Indian equity indices open at fresh highs

Indian shares hit fresh record highs on Monday, although overall gains remained modest after last week's strong rally.

The wider Nifty50 of the National Stock Exchange (NSE) traded firmly above the 10,900-level and scaled a new high of 10,929.85 points during intra-day trade.

Shares of Wipro today slipped more than 3 per cent in morning trade on BSE after the third largest IT services firm posted 8.4 per cent fall in consolidated net profit for the December quarter.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE crossed the 35,700 mark during intra-day trade and touched a new high of 35,700.72 points.

"The recent up move has been supported with selective heavyweight counters and Banks conglomerates; it seems that the bulls are not at all willing to give up and with the important event (Union Budget) being around the corner some or the other sector is supporting the Index to extend further up", Angel Broking said in a note. This would help government meet the disinvestment target for FY18.

Adani Ports, Bajaj Finance, Yes Bank, TCS, rallied in green, giving momentum to the markets.

Sentiment remained upbeat after Reliance Industries on reported better-than-expected 25.1 per cent jump in Q3 net profit at Rs 9,423 crore.

Profit for the quarter stood at Rs. 4,642.60 crore, up from Rs. 3,865.33 crore in year-ago.

Yes Bank, Coal India and Kotak Mahindra Bank advanced up to 1.3 per cent. Meanwhile, the stocks of Wipro dragged 2.33% on Sensex, followed by Tata Motors (-2.05%), Bharti Airtel (-1.56%) and Asian Paints (-1.40%).

Like this: