Published: Mon, July 17, 2017
Health | By Jay Jacobs

Sensex ends 54 points higher; Nifty settles above 9900

Sensex ends 54 points higher; Nifty settles above 9900

Boosted by the onset of quarterly results and Parliament's monsoon session, the key Indian equity indices - the Sensex and the Nifty - edged up to close at a fresh high on Monday. After touching an intra-day low of 9,894.70, the index headed north to touch a new high of 9,928.20, before settling at 9,915.95, up 0.30 per cent.

As per details on the BSE website, shares of Wipro were up by 3.55 per cent, Vedanta were up by 2.25 per cent and Mahindra & Mahindra were up 1.79 per cent.

Other gainers included Adani Ports, Mahindra and Mahindra, Reliance Industries, gaining between 1.2 percent to 1.6 percent. "European indices like CAC 40 and FTSE 100 traded higher", Jasani added.

Twenty-one of the 30 Sensex constituents ended higher on Monday, while overall declining issues beat advancing ones 1,378 to 1,306 while 171 remained unchanged.

"Foreign investors are continuously buying into selected index heavyweight stocks, resulting in the upmove in the market".

Global concerns about supply overhang in the metals sector continue to linger, as Chinese steel output in June rose 5.7 per cent (y-o-y) to a record 73.23 million tonnes, surpassing an all-time high of 72.78 million tonnes in April, data from the National Statistics Bureau showed. Infosys Ltd rose 1.4 percent while Wipro Ltd gained 3.2 percent after the software service provider said on Friday that it would consider a buyback proposal. The stock rallied as much as 1.76 percent intraday to hit a high of Rs 1,558, the highest level since January 17, 2008.

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