Sensex, Nifty edge up; IT stocks jump

Sensex Nifty opens in green Reliance Industries in focus
Sensex Nifty opens in green Reliance Industries in focus BSE building in Mumbai
Author

18 August, 2017

The benchmark BSE Sensex ended the session up 322 points or 1.02 percent at 31,770 while the broader Nifty index climbed 103 points or 1.05 percent to 9,897.

"For Infosys, the buyback will lead to higher RoE and payout ratio". Infosys, HDFC, and Vedanta were the top gainers on both indices, while Bajaj Auto, HUL, Power Grid and Zee Entertainment lost the most.

Market closed marginally higher amidst volatile trade.

The share of Infosys Ltd rose by 4.68 per cent to end Rs 1,020.85.

Karthikraj Lakshmanan, Senior Fund Manager - Equities, BNP Paribas Mutual Fund said, "Stocks across the globe traded with caution as uncertainty surrounding internal United States policy continued to weigh on investor sentiment despite receding North Korean tensions". Shares of Infosys, rose as much as 5.6 per cent after the company said on Wednesday its board would consider a proposal to buy back shares at a meeting later this month. 519 shares advanced against a decline of 252 shares, while 25 shares were unchanged displaying a healthy market breadth.

The Sensex is trading at 31,513.07 points up by 64.04 points or 0.20 percent. The 31-scrip index was trading at 31,837.21 up 67 points or 0.21%, while the 51-scrip index surged by almost 28 points or 0.28% trading at 9,924.80.

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Hong Kong's Hang Seng Index slipped 0.30 percent by 3:09 p.m. HK/SIN as earnings reporting season continued.

Mid- and small-cap indices closed mixed. Coal India closed higher by 4.11% at Rs 246.80 per share, Hindustan Zinc closed higher by 1.34% at Rs 294.50 per share and Hindalco Industries closed lower by 1.48% at Rs 230.15 per share.

The Asian markets on Thursday rose as tensions between the USA and North Korea.

Shares of GMR Infrastructure hogged limelight after the Supreme Court of India allowed Delhi International Airport (DIAL) to use airport land for commercial purposes.

"The last couple of weeks showed that there are risks and you can lose money....there is nothing in the market which you can say is an event that could drag the market down, but one must keep an eye on what is happening in the U.S. right now", Andrew Holland, CEO, Avendus Capital Alternate Strategies told CNBC-TV18 in an interview.


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