The Markets on Monday saw a steady rise maintained by both the BSE Sensex and Nifty. Nifty is now nearing a historic 10,000-mark as it close at 9966 points today.
Mumbai, July 24: The markets on Monday closed on a high as Wipro and Reliance Industries Limited extending their gains through the day. The BSE Sensex was 216.98 points up and ended at a record high of 32,245.87 while the Nifty gained 51.15 points to close at a new peak of 9,966.40, nearing a historic 10,000-mark. Bharti Airtel was also among the top gainers in both the indices. Dr Reddy’s Labs, Axis Bank and Vedanta lost the most during the day.
The BSE Sensex had opened 90 points higher at 32,123 while Nifty, too, was was over 21 points up at 9,930, nearing the 10,000-mark. Both Sensex and Nifty had seen a plunge last week after seeing record highs. However, both recovered on Friday, soon after the Annual General Meet of Reliance Industries Limited. Here is how Sensex and Nifty rallied through the day on Monday.
At 2:47 pm: Markets continue to rally high with Sensex up by 248.97 points at 32,277.86 and Nifty up by 63.45 points at 9,978.70. Both Wipro and Reliance continued their Friday surge on the markets and were the top gainers on Monday too.
At 12:55 pm: Sensex was trading over 210 points higher and has been touching new heights every minute. It was at 32,245 at 12:55 pm. On the other hand, Nifty was also moving towards the 10,000-mark, and was rallying at 9968, which 53 points higher. The HDFC Bank hit fresh record high of Rs 1,725 (up 1.25 per cent).
At 10:43 am: The markets were rallying high with Sensex trading over 170 points higher and touching another new high of 32,202. Nifty, meanwhile, was incing closer to the 10,000 mark and was trading at 9,961, which is 46 points higher. The shares of Avenue Supermarts, the operator of D-Mart retail chain, gained 5.5 per cent after reporting that its Q1 net profit increased 47.7 per cent at Rs 174.7 crore as against Rs 118.4 crore in the same quarter last year.
On Friday, before closing for he week, the Sensex and the NSE 50-share Nifty had hit all-time highs on fresh buying in select counters during the week and in view of good corporate results mainly from Reliance Industries and Wipro coupled with persistent foreign capital inflows. RIL Chairman Mukesh Ambani also announced bonus shares in 1:1 for its shareholders.
On Tuesday last week, the key indices fell after ITC dropped more than 12 per cent, following the GST council deciding to increase the cess on cigarettes. On Wednesday and Thursday, the markets struggled to regain the record high levels that they had reached last Monday. On Friday, following positive results by Reliance and Wipro, both Sensex and Nifty recovered and were close to their high points that they had recorded at the beginning of last week.
On Monday morning, the Sensex and Nifty were yet again trading at record highs. Lupin gained 2 per cent followed by Wipro and Reliance Industries. Other shares that gained up to 8 per cent included Jammu and Kashmir Bank, Vijaya Bank, HPCL, Fortis Healthcare among others.