Indian shares hit record closing highs

Herbert Rhodes
October 17, 2017

Better-than-expected macroeconomic data boosted investors' sentiment, which helped key Indian equity indices to touch a record high on Monday.

Almost 130 stocks rose to a fresh 52-week high on the BSE, in the opening trade of the Diwali week.

Mumbai: Driven by strong IIP numbers and an unchanged inflation, the Sensex today rallied over 211 points to 32,393, reflecting interrupted buying by domestic institutional investors. Similarly, the 30-share BSE Sensex opened positive and settled the session higher by 250.47 points, or 0.78 per cent, at 32,432.69 - its biggest closing since August 2. "BSE Sensex rose 192.38 points, or 0.59 per cent, to 32,625.07, while the Nifty 50 gained 64.35 points, or 0.63 per cent, to 1", 231.80", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

The NSE 50-share Nifty was also trading up by 34.20 points or 0.34 per cent to 10,201.65 at 1130 hours.

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According to official data released on Thursday, the IIP for August showed that factory output grew 4.3 per cent against the same month a year ago, and September's CPI inflation remained static at 3.28 per cent as compared to August. Meanwhile, Colgate Palmolive (down 3.20 per cent), Adani Enterprises (down 2.21 per cent), IDFC Bank (down 2.19 per cent), ABFRL (down 2.02 per cent) and MRPL (down 1.81 per cent) pared gains.

Upbeat second-quarter results pushed the shares of Tata Consultancy Services Ltd (TCS) to their highest since June 7.

On the other hand, the S&P BSE healthcare index fell by 40.67 points, followed by FMCG index by 25.86 points and capital goods index by 24.25 points. As per this news, the response to the stock market increased.

Among the top Sensex gainers: Bharti Airtel rose 5 percent, Mahindra and Mahindra added 3 percent, Hindustan Unilever gained 2.6 percent while Tata Motors advanced 2.9 percent.

Other reports by TheSundaySentinel

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