BULL RUN! Share market at RECORD HIGH; Sensex breaches 58100-level, Nifty above 17300-mark - RIL leading the surge
The bull run continued to push the market, as the benchmark indices Sensex and Nifty50 surged to new peak intraday with the former breaching 58100-mark and the latter gaining over 17300-level.
The bull run continued to push the market, as the benchmark indices Sensex and Nifty50 surged to new peak intraday with the former breaching 58100-mark and the latter gaining over 17300-level.
The BSE Sensex jumped 157 points or 0.3 per cent to 58140.33, while Nifty surged 87 points or 0.5 per cent to 17321 intraday level on Friday. The mid-cap index too grew as it gained over 104 points or 0.36 per cent to 29, 021 levels on Friday.
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At least 30 stocks were seen advancing, while 20 stocks were dragging the market out of 50 top index heavyweights during the filing of the report on Friday. Reliance Industries was a top gainer today, which has been trading near new life high levels and also leading the surge in the market intraday today.
On the other hand, HDFC Life Insurance is dragging the market most, as stock has been declining since open and trading over 3.5 per cent lower intraday trade today on the back of acquiring 100 per cent controlling stake in Exide Life Insurance, a wholly-owned subsidiary of Exide Industries.
Other stocks that are also helping the market to grow are ONGC, Hero MotoCorp, Coal India each surging around 2.5 per cent, while IOC and Eicher Motors surging over 2 per cent intraday today.
Along with HDFC Life, the other two HDFC twins — HDFC and HDFC Bank were also weak in a positive market on Friday, as both declined by over 1 per cent respectively. Besides, Cipla, Axis Bank, Bharti Airtel slumped over 1.5 per cent and HUL slipped over 1 per cent intraday today.
Nifty Metal, IT, and Auto have been holding the market in the green, while Nifty Bank along with financial services stocks are dragging the market most, led by HDFC Group companies shares. In addition, FMCG and pharma stocks are weak too in an otherwise positive market on Friday.
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