Nifty breaches 10000 mark, Sensex at new high on fund inflows

Aug 18, 2017, 00:27
Nifty breaches 10000 mark, Sensex at new high on fund inflows

Traders said volatility crept in due to emergence of sudden selling in the last half an hour of the session, which took away much of the day's gains.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,919.17 points, traded at 31,834.45 points - up 63.56 points, or 0.20 per cent, from its previous close at 31,770.89 points. The closing session saw auto, FMCG, bank and pharma sectors losing heavily.

Meanwhile, the Sensex and Nifty closed 0.08 percent and 0.07 percent higher, respectively.

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The benchmark Sensex, which stayed up for most part of the day, hit a high of 31,937.51 on the back of rally in the Infosys stock following the company's buyback proposal and unabated buying by domestic institutional investors. The market breadth was narrow as 1,399 shares advanced against a decline of 1,161 shares, while 138 shares were unchanged.

■ 9.30am: BSE Sensex trades higher by 69 points, or 0.22%, to 31,840, while the Nifty 50 rises 26 points, or 0.26%, to 9,923.

United States stocks ended slightly firmer on Wednesday but off the day's highs as worries mounted over President Donald Trump's agenda and minutes from the latest Federal Reserve meeting suggested policymakers are anxious about weak inflation.

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■ 9.05am: Infosys Ltd rose 3% to Rs1,002.75 after the company said its board will meet to consider buyback of shares on 19 August. India VIX closed higher by 1.53% at 11.

Asian stocks edged higher on Thursday, as tensions between the United States and North Korea came off the boil, while the Federal Reserve's concerns about weak US inflation weighed on the dollar, reported in Reuters. Coal India closed higher by 4.11% at Rs 246.80 per share, Hindustan Zinc closed higher by 1.34% at Rs 294.50 per share and Hindalco Industries closed lower by 1.48% at Rs 230.15 per share.

The index was up by 77.82 points or 0.24% up at 31848.71. While Hong Kong's Hang Seng rose by 0.14%, Shanghai Composite Index was up by 0.32%. "Infosys buyback is a very good thing for other IT companies", said AK Prabhakar, head of research, IDBI Capital.

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