The domestic benchmark, indices hit fresh record highs on Monday after BSE Sensex and NSE Nifty rose for a fourth straight day, led by gains in shares of realty, energy, IT and capital goods companies.
BSE Sensex closed at 35,798, up 286 points and Nifty50 closed 71 points higher at 10,966.29
Rally in IT stocks such as MindTree (up 7.20 per cent), TCSBSE 5.36 % (up 4.66 per cent), TataElxsi (up 4.28 per cent), Infibeam (up 2.96 per cent), and Tech Mahindra (up 2.88 per cent) led the rally on NSE. Nifty IT index closed 2.07 per cent higher at 12,894.95
“Benchmark equity indices gained strength towards the end of the session with both BSE Sensex and Nifty 50 Index scaling fresh record highs led by a rise in heavyweight stocks, positive earnings and positive sentiment across most world markets. Shares of realty, energy, IT and capital goods companies were among the top gainers following better-than-expected Oct-Dec earnings and positive news flow. The market will be taking cues from earnings of key companies along with the upcoming budget,” said Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas Mutual Fund.
BSE Midcap index added 111 points to 17,876.50 while the Smallcap index closed 151.85 points or 0.78 per cent higher at 19,608.01.
Top smallcap gainers of the day were Sobha, Shemaroo, Lincoln Pharmaceuticals and Goodricke Group, rallying over 10 per cent each. Meanwhile, smallcaps such as Dalmia Sugar (down 9.73 per cent), Dwarkesh (down 7.83 per cent), Triveni (down 5.98 per cent) and 8kMiles (down 5.62 per cent) pared index gains.
Barring Nifty PSU Bank and Nifty Metal, down 0.68 per cent each, all sectoral indices ended the day in green.
Shares of WiproBSE -2.33 % slipped 2.33 per cent to Rs 320.80 after the third largest IT services firm posted 8.4 per cent fall in consolidated net profit for December quarter.
Among Q3 earnings posted on Monday, Axis BankBSE 3.52 % reported a year-on-year 25 per cent growth in net profit in the quarter ended December 2017, led by demand for loans from individuals and small and medium enterprises (SMEs) and fee income even as trading income fell
Meanwhile in the primary market, Shares of Apollo Micro Systems made a strong debut as the scrip got listed at Rs 478, a 73.82 per cent premium over its issue price of Rs 275. The stock however closed 5 per cent down at Rs 454.10.
Globally, China’s blue-chip CSI300 index was up 1.19 per cent at its 31-month high with the Shanghai Composite index was up 13.50 points or 0.39 per cent at 3,501.36, its highest since early 2016,reported.