Home Business Sensex up with 251 points to record again for third consecutive day

Sensex up with 251 points to record again for third consecutive day

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(G.N.S) Dt. 19

New Delhi

Indian stocks made record close a habit of sorts rallying for the third consecutive day on Friday, with banks and financials stoking investor interest amid higher Asian pointers.

Buying spread through sectors after the GST Council slashed tax rates on certain products and services.

Foreign capital inflows in anticipation of better corporate earnings from market heavyweight Reliance IndustriesBSE 1.09 % and WiproBSE 0.74 % later in the day gave enough fodder to bulls.

The Sensex rallied 251 points, or 0.71 per cent, to close at 35,512 — a fresh peak. The Nifty went up 78 points, or 0.72 per cent, to a record 10,895.

Intra day, the Nifty and the Sensex had touched new life highs of 10,907 and 35,542, respectively.

With a gain of nearly 5 per cent, Adani Ports was at the top of the Sensex index. The stock got traction after the company reported on Thursday a 19.51 per cent jump in its consolidated profit at Rs 1,001 crore for the third quarter ended December.

YES Bank came in next, which advanced 2 per cent on Friday after it announced a 22 per cent annual growth in net profit for October-December.

IT firm HCL Technologies on Friday posted a flat consolidated net profit at Rs 2,194 crore for the December-ended quarter. The scrip closed 0.30 per cent up on the BSE.

India’s leading private lender HDFC Bank settled 1 per cent up after it reported an annual 20 per cent growth in net profit at Rs 4,642.60 crore – its highest ever quarterly profit — for October-December, driven by asset growth and improvement on the margin front.

ITCBSE 0.37 % too settled 1 per cent up after it announced an annual 16.75 per cent increase in quarterly net profit at Rs 3,090.20 crore.

Kotak Mahindra Bank closed 1.39 per cent up after quarterly profit jumped 28.23 per cent year-on-year.

ICICI Bank, State Bank of India and Tata Consultancy Services were the other big gainers of the day.

On the other hand, Infosys, Sun Pharma, Power Grid Corporation and Maruti Suzuki lost out.

Among the 50 stocks of the NIfty50 index, 39 closed in the green while 9 in the red. Two stocks remained unchanged.

Globally, Asian and European stocks rose moderately amid a threat of a US federal government shutdown.

It was the seventh week of gains in a row for the markets. The Sensex recorded a significant rise of 919.19 points, or 2.65 per cent, while the Nifty gained 213.45 points, or 1.99 per cent, in the whole week.

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