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Sensex closes at 33,600 level for first time, Nifty rises to 10,440; Bharti Airtel top gainer

A day after India's 30-notch jump to 100th in the World Bank's ease of doing business ranking, the Sensex and Nifty went into jubilant mood hitting fresh all-time highs with all component indices trading in the green.

BT Online        Last Updated: November 1, 2017  | 16:35 IST
Sensex closes at 33,600 level for first time, Nifty rises to 10,440; Bharti Airtel top gainer

A day after India's 30-notch jump to 100th in the World Bank's ease of doing business ranking, the Sensex and Nifty went into jubilant mood hitting fresh all-time highs with all component indices trading in the green.

While the Sensex hit an all-time high of 33,651 level, the Nifty touched 10, 451 points, a level never seen before. The Sensex rose 387 points or 1.17 percent at 33,600 level. The Nifty closed 1.02 percent or 105 points higher at 10,440 level.

Banking stocks such as ICICI Bank (4.42 percent) and SBI (4.58 percent) led the surge in indices with the BSE Bankex rising 568 points or 2.01 percent at 28,867 level. Bank Nifty too rose nearly 471  points to breach the crucial 25,000 level  to reach 25490 mark.

We look at key developments, which affected the market today.

3:07 pm: While 212 stocks hit their 52-week high on the BSE, 136 stocks reached fresh 52-week highs on the NSE.

2:52 pm: Shares of Syndicate Bank jumped over 14 per cent after the lender reported a 27.68 per cent rise in the July-September quarter profit.  At 2:51 pm, the stock was up 9.28 percent at 90.10 level on the BSE. Net profit rose to Rs 105.24 crore on annual basis, notwithstanding the rise in bad loans. The Manipal-headquartered bank had posted a profit of Rs 82.42 crore in the same quarter of the previous fiscal.

2:46 pm: The rupee is trading at 64.5825 to the dollar against its previous close of 64.75.

2:33 pm: TVS Motor Company posted a 20.2 per cent rise in net profit at Rs 213.16 crore for the second quarter ended September 30, aided by robust sales across domestic as well as export markets. The company had reported a net profit of Rs 177.39 crore during the same period of previous fiscal. Its revenue rose to Rs 4,097.99 crore during the second quarter, as against Rs 3,465.69 crore during the same period of previous fiscal, TVS Motor Company said.

2:32 pm: Shares of Syndicate Bank jumped over 14 per cent after the lender reported 27.68 per cent jump in the July-September quarter profit. Opening the day on a positive note, the stock soared 14 per cent to Rs 94 on BSE. On NSE, it surged 14.12 per cent to Rs 94.15. The state-owned bank reported a 27.68 per cent jump in the July-September quarter profit to Rs 105.24 crore on annual basis, notwithstanding the rise in bad loans.

2:26 pm: Market breadth was positive with 1547 stocks rising against 1170 falling on the BSE .

12:48 pm: Realty index rises 3.5 percent, bankex gains 2 percent, metals and PSU indexes add 1-1.5 percent, oil and gas index climbs 0.3 percent, auto index edges 0.2 percent higher.

11: 34 am: Maruti Suzuki India total sales up about 9 percent in October. Total sales of 146,446 vehicles in October against 133,793 vehicles last year. Total domestic sales of 136,000 vehicles versus 123,764 vehicles last year. Passenger cars sales at 99,077 vehicles versus 92,886 vehicles last year.  The Maruti Suzuki stock was trading 0.33 percent or 27 points lower at 8,192 level.

11:26 am: Syndicate Bank shares jump 10.3 percent to Rs 91 level.

11.25 am: Welspun India shares rise 7.8 percent to Rs 72.25on the BSE.

10: 59 am: The rupee is trading at 64.5875 to the dollar versus its previous close of 64.75.

10:01 am: State Bank of India (SBI), the country's top lender by assets, has cut marginal cost-based lending rates (MCLR) across maturities by 5 basis points, in what will be its first lending rate cut in 10 months. The SBI stock was trading 3 percent higher to 315 level.

9: 53 am: The Dabur India stock rose nearly 6 percent or 20 points to 352 level after the firm reported a Dabur India reported a 1.2% rise in consolidated net profit at Rs 362.67 crore for the second quarter ended September 30, 2017. The company had posted a consolidated net profit of Rs 358.35 crore in the same period last fiscal.

9:38  am: New India Assurance's Rs 9,600 crore IPO to open today. New India Assurance (NIA) is the largest general insurance company in the country.

Also read: Bharti Airtel Q2'18 results hit by Jio effect: Net profit falls 76.5% Y-o-Y to Rs 343 crore

9: 36 am: On the 30-stock Sensex,  Bharti Airtel (3.32 percent), Axis Bank (2.79 percent), State Bank of India (2.52 percent), and ICICI bank 1.82 percent were among the top gainers.

9: 34 am: Bharti Airtel rises nearly 4 percent to 516 level post its Q2 earnings on Tuesday. The stock hit a 52-week high of 522 level in early morning trade. The earnings were announced after market hours.

9: 33 am: InterGlobe Aviation rises 1.73 percent or 21.55 points to 1265 level on robust Q2 earnings

9:17 am: Bharti Airtel, IndiGo are the stocks to watch out for today. Airtel, the country's largest telco's net profit for the July-September quarter plunged by a whopping 77 percent from a year earlier, as it struggled with the fierce price war unleashed by Mukesh Ambani-led Reliance Jio.

Budget carrier IndiGo IndiGo's parent InterGlobe Aviation on Tuesday reported a 294% increase in net profit to Rs551.55 crore, aided by credits received from manufacturers for aircraft delivery delays and grounding, besides better revenue management. The airline had reported a net profit of Rs139.85 crore in the same period a year ago.

9:00 am: Asian shares hit a 10-year high on Wednesday on the back of solid economic growth globally, while oil prices extended a bull run on hopes that major oil producers will maintain their output cuts.

8:55 am: Earnings today: Tech Mahindra, Hero MotoCorp, Apollo Tyres, and TVS Motors Q2 results today.

8: 50 am: Asian markets are trading higher as Caixin PMI came in at 51, in line with estimates and better earnings numbers posted by Sony.

In Europe, markets closed higher on Tuesday taking cues from better earnings numbers especially by Ryanair and as Catalonian tensions ease a bit. Markets will wait for the Bank of England meeting on Thursday.

Markets closed higher in US. DOW and S&P 500 closing with seventh straight monthly gain supported by technology stocks like Facebook, Amazon, Apple, Alphabet and Microsoft. FOMC meeting decision to come out tonight and markets will further await for the announcement of new Fed Governor and release of tax bill later in the week.

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