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Stock market starts off strong as Sensex surges, Nifty regains 10k mark
Stock of India’s second-largest IT firm Infosys goes up by 1.23% to Rs 935 after the company said it has fixed November 1, 2017, as the record date for its up to Rs 13,000- crore share buyback programme.
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The market made a strong start today as the benchmark Sensex surged 111 points, mainly driven by domestic investors and aided by positive Asian shares.
Moreover, the broader NSE Nifty reclaimed the key 10,000 level.
Extending its rally, the 30-share index advanced 110.72 points, or 0.34%, to 31,957.61. Sectoral indices such as capital goods, metal, IT and healthcare moved in the positive zone, rising by up to 0.83%.
The gauge had gained 254.86 points in the previous two sessions.
The 50-share Nifty gained 30.55 points, or 0.30%, at 10,019.30.
Uninterrupted buying by domestic financial institutions and widening of exposure by retail investors ahead of second quarter earnings season amid a firming trend in the Asian region steered the show, according to traders.
Stock of India’s second-largest IT firm Infosys went up by 1.23% to Rs 935 after the company said it has fixed November 1, 2017, as the record date for its up to Rs 13,000- crore share buyback programme.
Other big movers include Lupin, Coal India, Cipla, M&M, Dr Reddy’s, Sun Pharma and Reliance Industries, rising by up to 2.57%.
Hong Kong’s Hang Seng was up 0.04% and Japan’s Nikkei rose by 0.38% in early deals. China’s Shanghai Composite, however, dropped 0.15%.
US Dow Jones Industrial Average ended 0.06% down on Monday.
