Market Highlights: Sensex closes above 31K, Nifty tad below 9600 | business-news | Hindustan Times
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Market Highlights: Sensex closes above 31K, Nifty tad below 9600

Indian shares surged on Friday as foreign funds pumped in more money on hopes of faster reforms and as companies came up with encouraging earnings results.

business Updated: May 26, 2017 15:39 IST
Raj Kumar Ray and Suchetana Ray
Investors took comfort from the new June derivatives series that indicates that shares are set to rise further as a normal monsoon forecast boosts earnings of India Inc in coming quarters.
Investors took comfort from the new June derivatives series that indicates that shares are set to rise further as a normal monsoon forecast boosts earnings of India Inc in coming quarters.(Hemant Padalkar/HT Photo)

Indian shares surged on Friday as foreign funds pumped in more money on hopes of faster reforms and as companies came up with encouraging earnings results.

Investors took comfort from the new June derivatives series that indicates that shares are set to rise further as a normal monsoon forecast boosts earnings of India Inc in coming quarters.

A slower-than-expected hike in interest rates by the US Federal Reserve and a risk-on mode triggered after OPEC decided to extend the oil output cut to March 2018 boosted sentiment across the world.

Here are live market updates:

3:35pm: Sensex closes at record high of 31,028, Nifty tad below 9,600.

3:28pm: Sensex falls below 31,000, Nifty below 9,600 on last minute profit booking.

3:20pm: BSE mid-cap up 2.1% and small cap index up 1.7%.

3:15pm: ITC gains 2.6% on beating estimates on Q4 results.

3:10pm: HPCL rises 12% on the back of stellar Q4 results. PAT up 66%.

3:10pm: Top sensex gainers are: Tata Steel up 5.45; ITC up 3%; RIL up 2.3%, Adani Ports up 1.9% and Asian Paints up 1.9%.

3:05pm: Sensex touches life high of 31,074. Nifty slips below 9600

3:00pm: Nifty crosses 9,600 for the first time ever.

2:55pm: Rupee at 64.47 against the US dollar.

2:50pm: Sensex falls to 31,014 while Nifty slides marginally.

2:45pm: European markets in the red. FTSE-100 up marginally; DAX down 0.5%, France’s CAC-40 down 0.86%.

2:40pm: Sensex at fresh intraday high of 31,045.61. Nifty cruising closer to 9,600.

2:35pm: Sensex close to day’s high at 31,032.92 and Nifty close 9,593.15.

2:30pm: Brent slightly up at $48.91 a barrel.

2:25pm: Rupee at 64.50 against the US dollar, this is the day’s high.

2:23pm: Asian markets trade mix. Nikkei down 0.64% and Singapore Straits Times is trading 0.43% down. South Korea Kospi up 0.53%, Shanghai up 0.08% up and Hong Komg’s Hang Seng up 0.03%.

2:20pm: BSE metals index up 3.5%; Cap Goods index up 1.5%, Auto index up 1.4%.

2:15pm: Top losers of the day are: Sun Pharma, down 3.4%; Cipla, down 3.1%; Lupin 1.3%; TCS, 0.8% and SBI, 0.7%.

2:10pm: Top Sensex gainers are Tata Steel, up 5.9%; Adani Ports, 2.7% up; RIL, 2.6% up; PGCIL, UP 2.1% and Asian Paints 2%.

2.09pm: Sensex at 31,014.61 and Nifty at 9,588.85