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NSE Nifty climbs above 10000 to end at one-month high

11 September 2017

The S&P BSE Sensex gained 0.61 percent at 31,882 while the broader NSE Nifty rose 0.72 percent at 10,006. On the Nifty, shares of Bharti Infratel, Sun Pharma, Vedanta, Bharti Airtel and Indiabulls Housing Finance performed the worst.

Still, sentiment was broadly cautious after indexes posted their first weekly fall in four last week, as investors monitored global risk factors and awaited consumer inflation data due on Tuesday.

Auto stocks Maruti Suzuki (up 2.41 per cent), Motherson Sumi (up 1.46 per cent), Bharat Forge (up 1.37 per cent) and MRF (up 1.18 per cent) among others, aided gains. The government had said on Saturday that it would increase taxes for mid-sized, large, and sports utility vehicles under GST, Reuters reported.

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Investors in Asia reacted with relief after North Korea did not conduct another missile test this weekend, when it celebrated its founding anniversary. In sync with the overall trend, broader markets showed firmness, with the BSE small-cap and mid-cap indices rising up to 0.77 per cent.

Among BSE sectoral indices, capital goods index was the star-performer and was up 2.05 per cent, followed by oil & gas 1.05 per cent, infrastructure 0.77 per cent and auto 0.73 per cent. Shares of Bharat Financial Inclusion ended 3.4 per cent higher at Rs 966.90, after hitting a 52-week high of Rs 979 earlier in the session. Nifty Pvt Bank index gained the most, adding 1.31 per cent at 13,891.10.

Among specific stocks, shares of Shares of Larsen and Toubro surged as much as 3.72 per cent to hit Rs 1,226 on NSE, its highest in two years.

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Asian Paints, HDFC Bank, NTPC and PowerGrid all climbed by up to 2.84 per cent.

The Nifty50 provisionally closed at 10,006.05 points - up 71.25 points or 0.72 per cent.

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NSE Nifty climbs above 10000 to end at one-month high