Sensex climbs over 250 pts, Nifty50 above 11100

Sensex climbs over 250 pts, Nifty50 above 11100. Benchmark indices staged smart performance in opening the first day of Budget week as the Sensex and Nifty hit fresh record highs, tracking the positive trend in Asian peers and ahead of Union Budget 2018.

The 30-share BSE Sensex was up 223.04 points or 0.62 percent at 36,273.48 and the 50-share NSE Nifty gained 51.60 points or 0.47 percent at 11,121.30. About 1,017 shares advanced against 373 declining shares on the BSE.

Maruti Suzuki jumped 3 percent after earnings and revision in royalty payment.

ICICI Bank, Bharti Airtel, Dr. Reddy’s Labs, HPCL and BPCL fell 1-3 percent.The nifty Midcap index gained 0.5 percent.

Avenue Supermarts, KPIT Technologies, Shriram City Union Finance, Kokuyo Camlin, Maithan Alloys, Bhageria Industries and Persistent Systems gained 2-4 percent post-earnings.

SRG Housing Finance surged 6 percent and Can Fin Homes gained 2.5 percent.

Newgen Software Technologies is set to make its debut on exchanges today after a good response to the initial public offer. The company has fixed issue price at higher end of price band of Rs 245 per share.

The initial public offer (IPO) of the IT firm was oversubscribed 8.25 times during January 16-18, 2018.

The Rs 425-crore IPO had received bids for more than 10 crore shares against the total issue size of 1.22 crore shares, as per data available on the NSE website.

The IPO comprised of fresh issue of shares worth up to Rs 95 crore by the company and an offer for sale of 13,453,932 equity shares by the existing shareholders.

More than 70 companies will announce their December quarter earnings today, which include Emami , HDFC, Tech Mahindra, Apar Industries Limited, Astra Microwave Products, Astron Paper & Board Mill, Automobile Corporation Of Goa, Balaji Amines Limited, Balaji Amines, Balmer Lawrie, Binani Industries, Century Textiles, Elgi Equipments, Emkay Global Financial Services, Himadri Speciality Chemical Limited, INOX Leisure Limited, IDFC, Indian Metals & Ferro Alloys, Laurus Labs, Maharashtra Scooters, Mahindra Logistics, Novartis India, Orient Cement, Ramkrishna Forgings, Reliance Communications, SIS, Shakti Pumps, Siyaram Silk Mills, SPARC, Subex and Wockhardt.

Avenue Supermarts shares gained 5 percent as Q3 net profit grew by 65.8 percent to Rs 251.8 crore and revenue rose 22.6 percent to Rs 4,094.8 crore compared to year-ago period.

Shares of KSB Pumps gained 5.6 percent in morning on bagging orders of Rs 413 crore.

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