Sensex closes above 34K, up 161 pts; OMC rebound, Infosys up 3% ahead of Q4 earnings

作者:Lisa 發表日期:2018-09-29 18:55:25

Bulls continued to have upper hand at Dalal Street as benchmark indices gained for the 6th consecutive session on Thursday despite geopolitical tensions, as investors await Infosys earnings due tomorrow.

But the caution ahead of macro data - March CPI inflation and February industrial output - capped the upside.

The 30-share BSE Sensex rallied 160.69 points to 34,101.13, taking total six-day gains to nearly 1,100 points from around 33,000 levels.

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The 50-share NSE Nifty rose 41.50 points to 10,458.70, driven by technology stocks and private banking & financials.

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"IT index single-handedly pushed the benchmark higher and it's indeed positive sign before the Infosys results. However, a word of caution is still recommended, considering the mixed undertone from the global markets," Jayant Manglik, President, Religare Broking said.

Nifty should hold above 10,400 for further recovery and now the next major hurdle is at 10,600, he added.

The broader markets underperformed frontliners, with the Nifty Midcap falling 0.3 percent on weak market breadth. About three shares declined for every two shares rising on the BSE.

Global markets were under pressure amid geopolitical tensions. Investor sentiment was curbed by the threat of imminent US military action in Syria. France's CAC, Germany's DAX and Britain's FTSE were mildly lower at the time of writing this article.

Asian markets - China's Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng and Australia's ASX 200 ended down up to 0.9 percent.

Crude oil prices were volatile after sharp rise for last couple of sessions. Brent crude futures were trading at around USD 72 a barrel after hitting the highest level since late 2014.

Back home, metals, PSU banks, pharma and realty stocks were under pressure but IT stocks outperformed throughout the session, with Infosys, TCS, HCL Technologies and Tech Mahindra rising up to 4.4 percent ahead of Infosys' Q4 earnings which will be announced after market hours tomorrow.

Majorty of analysts expect the dollar revenue growth around 2 percent QoQ for the quarter ended March 2018 and the second largest IT services provider is expected to meet full year guidance.

Nifty Metal, Realty Pharma and PSU Bank indices were down 1-2 percent.

Oil retailers BPCL, HPCL and IOC rebounded in last hour of trade, ending marginally higher after sharp fall seen on higher crude oil prices.

HDFC, HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra Bank and Tata Motors among others gained 0.5-1.66 percent.

Vedanta, ITC, Maruti Suzuki, SBI, Adani Ports, Tata Steel, Bharti Airtel, Sun Pharma, Dr Reddy's Labs and Lupin declined 1-3 percent.

Fortis Healthcare rallied 4 percent after sources told CNBC-TV18 that IHH is likely to have made an offer to buy the company.

Dish TV rallied 8 percent after promoter group entities of the company have made an offer to buy an additional 26 percent equity stake from public shareholders of the direct-to-home (DTH) player for Rs 3,701 crore.

Harrisons Malayalam surged 10 percent after a media report indicated that the Kerala High Court restored 30,000-acre plantation land to the company.

Jaiprakash Associates, Balrampur Chini, Triveni Engineering, Dwarikesh Sugar, SAIL, IRB Infrastructure, OBC, Union Bank, Andhra Bank, Bank of India, Indraprastha Gas, Gujarat Gas, Bata India, Adani Enterprises, Rain Industries and Goa Carbon fell up to 6 percent.

本文來源:https://www.moneycontrol.com/news/business/markets/sensex-closes-above-34k-up-161-pts-omc-rebound-infosys-up-3-ahead-of-q4-earnings-2547835.html




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