Sensex retreats from record, but stays above 30k

Author

03 May, 2017

On the other hand, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 30,141.39 points, traded at 30,111.46 points (at 1.30 p.m.) - down 21.89 points or 0.07 per cent from its previous close at 30,133.35 points.

All the BSE sectoral indices led by FMCG, metal, bank and IT, were trading in positive zone with gains of up to 0.57 per cent.

Sensex closed at 30,029.74 down 104 points or 0.34%, while Nifty 50 ended at 9,342.15 below 10 points or 0.10%. It also broke the previous intra-day record of 9,309.20.

The Sensex resumed higher at 29,825.14 and firmed up further to 29,841.39, its highest intra-day level since April 7, 2017, before trading at 29,803.90 at 11 am, showing a gain of 148.06 points or 0.50%.

Sentiment was also bolstered as Asian markets hit multi-year highs, reflecting the return of risk appetite after a centrist victory in the first round of the French presidential election. The gauge had gained 290.54 points on Monday.

The rupee appreciated by 19 paise to trade at almost 21-month high of 64.07 against the dollar in early trade today at the Interbank Foreign Exchange amid sustained selling of the American currency by exporters and banks.

Major losers were Axis Bank, Lupin, ICICI Bank, Bharti Airtel, Asia Paints, HDFC and ITC, falling by up to 1.60 per cent.

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Shares of HDFC Bank continued its upward journey, closed at record high of Rs. 1,532.75, rising 2.41 per cent after the company last week reported an 18.2 per cent growth in net profit for the March-quarter.

Meanwhile, the BSE Mid-cap Index closed up by 0.9% at 14625 while the BSE Small-cap Index closed up by 0.8% at 15291.

"Earnings from both private as well as public sector has shown encouraging signs, lifting banking stocks, while Nifty's surge to 9,300 gave added vigour to market".

Foreign funds bought shares worth net Rs 178.82 crore and domestic funds worth Rs 998.26 crore yesterday, as per provisional figures issued by stock exchanges.

The dollar was 0.2 per cent stronger at 1,132.55 won following Trump's comments in an interview with Reuters.

Globally, Japan's Nikkei was up 0.84 per cent while Hong Kong's Hang rose 0.98 per cent in early trade on Tuesday.


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