Sensex rises over 200 pts, Nifty nears 10,750; YES Bank, SBI, TCS top gainers
BusinessToday.In April 30, 2018
The Sensex and Nifty rose in early trade amid optimism over Q4 earnings and higher Asian markets. While the Sensex rose more than 200 points to 35,174, Nifty was up 53 points to 10,745 level. YES Bank (2.51%), SBI (2.45%) and TCS (1.69%) were the top gainers on Sensex.
Reliance Industries, which announced Q4 consolidated net profit of Rs 9,435 crore ($1.4 billion), registering 17.3 per cent growth against Rs 8,046 crore in the corresponding period of the previous year on Friday was trading 2.56% lower on BSE.
The Axis Bank stock, which gained on Friday after the lender announced its Q4 earnings succumbed to profit-booking and was the biggest loser on Sensex (3.47%) and Nifty (3.16%).
IT stocks were the lead gainers with BSE IT index rising 1.41%-the most among the 19 sectoral indices.
Metal (0.94%) and auto (0.64%) indexes too gained in early trade.
Market breadth was positive with 1358 stocks rising against 814 falling on BSE.
US stocks were mostly higher Friday after a wobbly day of trading. Amazon, Microsoft and Expedia all climbed after reporting earnings. According to FactSet, about 80 percent of the S&P companies that have reported their results have announced a larger per-share profit than analysts expected.
The S&P 500 index gained 0.1 percent to 2,669.91. The Dow Jones industrial average lost 11.15 points, or less than 0.1 percent, to 24,311.19. The Nasdaq composite rose 1.12 points to 7,119.80. The Russell 2000 index of smaller-company stocks lost 1.66 points, or 0.1 percent, to 1,556.24. Most of the stocks on the New York Stock Exchange finished higher.