The Sensex and Nifty rose to near three-month highs today, extending their gains to a third session in a row. Financials and technology shares led the advances, with higher global markets also supporting the sentiments.
The Sensex rose 190 points to end at 35,160 while the Nifty settled 47 points higher at 10,739.
Asian shares extended gains as tensions in the Korean Peninsula eased and first-quarter earnings shone, even though some investors were cautious about the outlook amid the backdrop of a simmering US-China trade dispute.
Here are 10 things to know about today’s trading session:
1)Gains were led by PSU banking and IT stocks, with the NSE’s sectoral sub-indices closing 1.7 per cent and 1.4 per cent higher.
2)Thirty four stocks on the 50-scrip NSE benchmark index Nifty ended in the positive zone.
3)Yes Bank, HUL, Ambuja Cements and TCS were the top gainers on the Nifty 50, finishing the session with gains around 2-4 per cent.
4)Among financial stocks, HDFC closed 1.6 per cent higher while Kotak Mahindra Bank rose 1.9 per cent.
5)HDFC reported a net profit of Rs. 2,846 crore in the January-March quarter, a year-on-year increase of 39 per cent compared with Rs. 2,044 crore for the quarter ended March 2017.
6)Private sector bank Kotak Mahindra Bank reported a 27 per cent increase in net profit to Rs. 1,789 crore for the January-March quarter.
7)”We’re following the global trend, and there has not been any major disappointment in the domestic earnings season,” said Sumit Pokharna, deputy vice president, Kotak Securities.
8)There is some profit-booking in Reliance Industries, plus the market was anticipating much better numbers from Jio, he added. Gains were, however, capped as index heavyweight Reliance Industries fell nearly 3 per cent.
9)Reliance Industries closed at a loss of 3.2 per cent. On Friday, Reliance Industries had reported a consolidated net profit of Rs. 9,435 crore, up 17.3 per cent from Rs. 9,423 crore for the quarter ended December 2017. Reliance Jio Infocomm posted a profit of Rs. 510 crore in the quarter ended March 31.
10)The stock markets will remain shut on Tuesday.>