Wednesday, 18 July, 2018

Sensex Jumps Over 150 Points, Nifty Touches 10750, ICICI Bank Surges 7%

The BSE Sensex gauge had lost 261.04 points in the previous two sessions The BSE Sensex gauge had lost 261.04 points in the previous two sessions
Andy Castillo | 09 May, 2018, 00:59

Major index gainers were GAIL, Mahindra & Mahindra, ICICI Bank, Axis bank, Hindalco, Tata Steel and Zeel.

The 30-share index was trading higher at 35,046.40 at 1115 hrs, showing a gain of 131.02 points, or 0.38 per cent.

However, investors took heart from the management's commentary that the bulk of the bad loans problem is behind it and the focus now shifts to recoveries and resolution, brokers said.

United States crude, however, topped the $75 mark for the first time since 2014.

The NSE Nifty index was trading 26 points up at 10,645, while the BSE Sensex was up 91 points at 35,006.

The Sensex succumbed to profit-booking by investors ahead of Karnataka elections this week, with the gauge sinking to the day's low of 35,136.

The clubs Jason Day used to win the Wells Fargo Championship
Instead, it was a 9-iron from the rough on which he judged the wind at his back and the bounce in fairway to near perfection. Phil Mickelson had a final round 69 to be alone in fifth at seven under, a short behind Bryson DeChambeau (70).

The benchmark BSE Sensex closed up 0.02 percent at 35,216.32.

M&M (-2.5%), IndusInd Bank (-2%), L&T (-1.9%), Yes Bank (-1.6%) and Bajaj Finance (-1.4%) were the top losers in today's trade. A heavy selling pressure witnessed in late afternoon dealings in consumer durables and capital goods stocks trimmed the overall gains made earlier in the day.

In the domestic market, on Friday, investors bought shares worth a net Rs 1,084.09 crore, while foreign portfolio investors sold shares worth Rs 1,628.23 crore, according to provisional data.

Asian markets closed mostly higher following firm leads from Wall Street overnight.

Benchmark Brent crude retreated from 3-1/2 year highs as investors awaited an announcement by President Donald Trump on whether the USA will reimpose sanctions on Iran.

The US Dow Jones Industrial average ended 0.39 percent high in yesterday's trade.

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