Weekly Review: Sensex, Nifty hit new peak during the week

by Garry Watts July 23, 2017, 0:24
Weekly Review: Sensex, Nifty hit new peak during the week

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

Notably, the IT major recorded a higher-than-expected growth in revenue for the first quarter of this fiscal year and announced it would buy back equity shares up to Rs 11,000 crore, joining peers that have announced similar moves.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,035.88 points, closed at 32,028.89 points - up 124.49 points, or 0.39 per cent, from the previous close at 31,904.40 points. During the day, it soared 8.17 per cent to Rs 291 its 52-week high. MSCI's broadest index of Asia-Pacific shares outside Japan, which has gained about 5 percent in the past two weeks, eased 0.2 percent on Friday.

Besides, Wipro has posted a 1.2 per cent rise in its consolidated net profit at Rs 2,076.7 crore for the April-June quarter. Shares of ICICI Bank (up 0.22%) recouped in the late afternoon and ended in green while Axis Bank closed 0.02% lower.

South Korea proposes military talks with North Korea
Without the hotline, the two militaries have no means of communicating quickly and directly to avoid an unintended conflict. The North will likely focus on blocking the cross-border spread of anti-Pyongyang leaflets by activists here.

However, the news that got investors happy was about the buyback.

Other gainers from the sensex pack were Axis Bank 5.28 percent, Coal India 4.67 percent, TCS 3.84 percent, ONGC 3.78 percent, Asian Paints 3.52 percent, Cipla 3.43 percent, Tata Motors 2.81 percent, Kotak Bank 2.22 percent, Dr Reddy's Lab 2.04 percent, HUL 1.65 percent, Bharti Airtel 1.37 percent, HDFC Bank 1.33 percent and Sun Pharma 1.07 percent. The recovery was driven by Reliance Industries, technology and select banks stocks while telecom, infra and healthcare stocks capped the upside.

Shares of Balaji Telefilms also soared almost 9% today after Reliance Industries board approved a plan to pick almost 25% stake in the company by acquiring 2.52 crore for about Rs 413 crore.


TOP News

Israelis dead in occupied West Bank stabbing attack
The site is open for women of all ages and for men over the age of 50, Xinhua news agency quoted a police spokesperson as saying. Israeli police said the response was prompted by the Palestinian crowds attacking members of the police after the noon prayer.

What's Next for Community Healthcare Trust Inc (CHCT) After Forming Wedge Up?
The current share price indicates that stock is -4.46% away from its one year high and is moving 15.90% ahead of its 52-week low. The stock of Kite Realty Group Trust (NYSE:KRG) has "Strong Buy" rating given on Monday, January 9 by Raymond James.

Trump greeted warmly at US Women's Open
I don't think that's going to happen again . "I made so many putts today and it really kept me in it which is great". Trump drew much of the attention Friday afternoon at his Trump National Golf Club , which was awarded the U.S.

United deal complicated as Inter name Perisic in tour squad
If United are still interested in the player, it looks like there's still some way to go before any deal is completed. But the deal will now be complicated after Inter named the 28-year-old in their 28-man tour squad.

BHP Billiton Limited (ADR) (NYSE:BHP), Tahoe Resources Inc (NYSE:TAHO)
Citigroup Inc. raised BHP Billiton Limited from a "neutral" rating to a "buy" rating in a report on Wednesday, April 26th. The stock of BHP Billiton Limited (ADR) (NYSE:BHP) has "Buy" rating given on Tuesday, August 30 by Argus Research.

Branden Grace sets major championship record with 62 at British Open
Quotes from the likes of Rory McIlroy, Henrik Stenson and Dustin Johnson following their third rounds at the Open Championship. He admitted leaving "a couple out there" but conceded he made up for missed opportunities with "those long bombs that I made".

OJ Simpson: Inmate number 1027820
Simpson arrives for his parole hearing at Lovelock Correctional Center, in Lovelock, Nevada, July 20. The decision came after Simpson apologized for the 2007 armed robbery that led to his imprisonment.

Monsoon session: Govt calls all party meet; TMC to skip
The Rajya Sabha was adjourned for the day after obituary references soon after the monsoon session of Parliament began on Monday. Prime Minister Narendra Modi had an example to set when the Lok Sabha opened for the Monsoon session.

Spider-Man: Homecoming - Every Secret You Need To Know
However, they were at the very center of the in-game footage released as well . The film balances these elements really well.

The Kardashians Can't Tell Kylie Jenner and Her Wax Figure Apart
This past winter, Kylie Jenner snapped a behind-the-scenes look at the making of her own Madame Tussauds wax figure . A waxwork figure of Beyoncé has been amusing fans because it looks nothing like the award-winning singer.