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Sensex rises 244 points, Nifty reclaims 9900 level; Bharti Airtel, Coal India lead gains

On the 30-stock Sensex, Bharti Airtel (3.21 per cent),  Coal India (2.66 percent ) and FMCG major ITC (2.42 percent)  were the top gainers. Infosys (0.56 percent), Hero MotoCorp (0.49 percent), HUL (0.46 percent) and Adani Ports  (0.26 percent) were the top losers.

BT Online        Last Updated: July 19, 2017  | 16:44 IST
Sensex rises 244 points, Nifty reclaims 9,900 level; Airtel, Coal India lead gains

The market ended the Wednesday trading session on a positive note, with the Nifty crossing the 9,900-mark again.

On July 14, 2017, the Nifty crossed the 9,900 mark for the first time ever and on the July 17, the index closed above the crucial level for the first time.

On Wednesday, the Nifty closed 72.45 points higher at 9899 level.  The Sensex closed 244.36 points higher at 31,955.35 level, recouping some losses it suffered from a 363 points or 1.13 percent fall in Tuesday's trade.

On the 30-stock Sensex, Bharti Airtel (3.21 per cent),  Coal India (2.66 percent ) and FMCG major ITC (2.42 percent)  were the top gainers. Infosys (0.56 percent), Hero MotoCorp (0.49 percent), HUL (0.46 percent) and Adani Ports  (0.26 percent) were the top losers.

ITC on Tuesday plunged up to 15 percent with the government raising tax on cigarettes. Other tobacco stocks such as VST Industries and Godfrey Phillips also lost ground on the government move.

Today, VST Industries (1.22 percent) and Godfrey Phillips (0.71 percent) closed higher post yesterday's losses.

The Nifty Pharma index led by Aurobindo rose 210 points or 2.10 percent and contrubuted mainly to the Nifty's gains.

Aurobindo Pharma closed 4.48 percent or 33 points higher at 766 level on the BSE.  The company has received final approval from the US Food and Drug Administration (USFDA) to manufacture Sevelamer Carbonate tablets 800 mg.

The Hindustan Unilever stock on Wednesday hit a fresh yearly high on its healthy Q1 earnings announced a day ago.

The stock reached a fresh 52-week high of 1,195 in early morning trade on the BSE.

The stock closed 0.46 percent lower on the BSE. It has risen 28.27 percent year-on-year.  On an year-to-date basis, the stock is up 38.41 percent.

On Wednesday, HUL, considered a bellwether for the FMCG sector posted a 9.3 percent rise in standalone net profit at Rs 1,283 crore for the April-June period.  This was more than Bloomberg consensus estimates, which had pegged net profit at Rs 1187 crore.

Market breadth was positive with 1714 stocks rising against 971 falling on the BSE. 168 stocks remained unchanged.

Global markets

Britain's FTSE 100 was flat at 7,390.86 and the CAC 40 of France gained 0.1 percent to 5,177.63. Germany's DAX lost 0.1 percent to 12,422.19. Wall Street looked set for a tepid start, with S&P 500 futures up 0.03 percent while Dow futures fell 0.04 percent.

Asia's Day Japan's Nikkei 225 stock index edged 0.1 percent higher to 20,020.86 and the Hang Seng in Hong Kong climbed 0.6 percent to 26,672.16. The S&P ASX 200 in Australia jumped 0.8 percent to 5,732.10, while the Shanghai Composite index added 1.4 percent to 3,230.98. South Korea's Kospi added 0.2 percent to 2,429.94. Shares in Southeast Asia were mixed.

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