Economy

Sensex closes at new life high of 31109, Nifty ends above 9600

Sensex closes at new life high of 31109, Nifty ends above 9600

On Friday, the equity markets ended in a celebratory mood as healthy pick-up in heavyweight stocks of Reliance Industries, Tata Steel and ITC lifted the BSE Sensex and the NSE Nifty to touch fresh record highs of 31,000 and 9,600 points mark, respectively.

Market breadth was negative with 853 advances against 1,711 declines.

Amid all this, concerns over high valuations remained.

Asian markets traded flat following the latest ballistic missile test conducted by North Korea.

The 30-share index, which had opened at 30,944 against Friday's close of 31,028, witnessed a 344-point swing in intraday trade.

During the session, the Sensex swung nearly 345 pointsboth ways.

United Kingdom police arrest 19-year-old over Manchester attack
Britain's official terror threat level was set at "critical" in the days after the attack but was downgraded Saturday to "severe". Manchester area authorities say they have arrested a 19-year-old in connection to the attack on the Manchester Arena .

The index had gained 726.57 points in the previous two sessions.

At 12.53 p.m., the wider 51-scrip NSE Nifty was up by 6.15 points or 0.06 per cent to trade at 9,601.25 points. The Nifty also hit a record 9,622.30, but slipped below the 9,600-mark as lacklustre earnings of some companies dampened sentiment.

Domestic institutional investors (DIIs) have been supporting the ongoing rally by pumping sizeable funds into markets.

The stock plummeted 11.66 per cent to close at Rs 379.30 on BSE.

Among the sectoral index, FMCG rose the most by surging 1 per cent, followed by metal index 0.10 per cent.

In the Sensex space, HDFC Ltd took the first rank by rising 3.29 per cent, followed by Hindustan Unilever 3.07 per cent. Ajanta Pharma, Reliance Capital, Reliance Infrastructure, Adani Power, Reliance Power, Indian Hotels, GMR Infrastructure and JSW Energy were also among the losers, down 4.

FBI declines to provide requested materials to House Oversight
Comey, as a result, believed his job since President Trump took office January 20 was to "create that space", Wittes said. Kushner previously volunteered to share with Congress what he knows about these meetings".

In contrast, healthcare stocks weighed.

Shares of software services provider Tech Mahindra slumped 11.66 per cent after a dismal earnings show.

Reliance Communication dropped for the eighth time in last 10 sessions after the firm on Saturday reported a Rs 948 crore loss for the fourth quarter amid an intense tariff war unleashed by Reliance Jio.

Second-line stocks underperformed their larger peers, with the BSE mid-cap and small-cap indexes ending down 1 percent and 1.5 percent, respectively.

Anand James, Chief Market Strategist, Geojit Financial Services, said: "Markets were off to rough start, owing to disappointing earnings figures from index heavy weights and with the U.S. markets off today, there were few global cues either".

Cavs' Kevin Love: We're defending champs, not Finals underdogs
They will also get an opportunity to redeem themselves to their fans with a better game played than they showed in Game 2 . They may be defending champions and they may have LeBron James, but against Golden State, they are definite underdogs.


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