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Principale » Sensex consolidates on gains, Nifty rangebound; both finish in green

Sensex consolidates on gains, Nifty rangebound; both finish in green

17 Juillet 2017

Stock market indices Sensex and Nifty rose to fresh record highs amid strong buying in IT stocks such as Wipro, Infosys and Tech Mahindra.

Asian shares set a fresh two-year high, boosted by stronger-than-expected economic growth in China and bets that lacklustre USA data will keep the Federal Reserve cautious about the pace of further policy tightening.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2 per cent on Monday.

The Sensex was up around 100 points, hitting a fresh high of 32,128.Nifty also rose to new high of 9,920.Among IT stocks, Infosys, Tech Mahindra and Wipro rose 1-2 per cent. Gains in banking stocks such as Kotak Mahindra Bank (+1%) and ICICI Bank (1%) also supported the upmove.

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Nifty IT index was up 1.2 percent.

Shares of Wipro shot up over 4 per cent in Monday's trade as the IT firm said it said it would consider a share buyback at its board meeting on Thursday.

Meanwhile, Fortis Healthcare Ltd and Religare Enterprises Ltd fell as much as 12.8 percent and 8.9 percent, respectively after India Ratings and Research downgraded some non-convertible debentures (NCDs) and loans held by RHC Holding Pvt Ltd, which owns shares in Fortis and Religare, to default levels of "IND D" and "IND C". At 10.39 a.m, the Sensex was trading up 98.58 points or 0.31% at 32,119.33 with 19 components gaining. The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,141.80 on 2 December 2016.

Sensex consolidates on gains, Nifty rangebound; both finish in green