Sensex hits all time high, leaps 300 points; Nifty cracks 11000 with a 100 point gain

Last Updated: Thu, Jul 12, 2018 11:49 hrs
Sensex

Indian domestic indices have scaled fresh highs on Thursday. The Sensex leaped by 300 points and the Nifty50 was up by nearly 100 points.

At the time of writing this story, the Sensex was 316.13 points or 0.87% up at 36,570 points. All indices on the Bombay Stock exchange were trading in the green. Bharat 22 and BSE Smallcap index traded at over a 1% margin.

On the Sensex, 24 stocks traded in the green. The leaders on the index were Yes Bank (up by nearly 3%), Reliance (2.65%), SBI (2.07%), Tata Steel (1.73%). Infy (down by 1.45%), M&M (1.06%), and ITC (0.44%) were trading in the red.

Meanwhile, the Nifty50 index surged 97.10 points or 0.89% up at 11046 points. On the Nifty, the gainers read names such as Hindustan Petroleum (+4.25%), IOC (+4.10%), BPCL (+3.80%), Dr Reddy's (+2.95%) and HCL Tech (+2.25%). Losers on the index were Bharti Infratel (-2.85%), TCS (-0.60%), Infosys (-0.30%) and Wipro (-0.25%).

On the global front, markets seem to have consolidated losses from previous session. China's Shanghai Composite Exchange traded at 2,830.44, up 52.67 points or 1.90% while Hong Kong's Hang Seng index was up at 28,512.87 level, with a gain of 201.18 points or 0.71%.

Trading on Dalal Street so far has been optimistic, but it has been volatile too. This, owing to investors who have been trading amid fears of a large-scale trade war erupting between China and US over tariff related talks. The rise of crude and commodities simultaneously has also been a cause of worry for the retail investor. The commodities market saw Brent crude futures rise by as much as 1.35% to $74.38 a barrel after tanking 6.9% overnight. This was the biggest single-day percentage drop since February 2016.

The trading session on Wednesday remained swinging among extremes. Domestic stock markets swung between gains and losses through the trading session, but ended marginally on the higher side. On Wednesday the Sensex settled at 36,265.93, while the broader Nifty50 closed at 10,948.30.

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