Sensex cuts initial gains, up 100 points in late morning

Posted October 17, 2017

The 30-share BSE Sensex rose 200.95 points to 32,633.64, backed by auto, metals, pharma, FMCG and select technology stocks.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 39.45 points or 0.39 per cent higher at 10,206.90 points.

BSE Midcap index gained 83 points or 0.52 per cent to 16,050.23 with shares of Oberoi Realty, Federal Bank, Tata Communications, Berger Paint, India Hotels and Crisil surging up to 6 per cent.

India's benchmark Sensex and Nifty indices on Monday hit an all-time high after better-than-expected macroeconomic data boosted investor confidence.

Besides Bharti Airtel, IT bellwether TCS firmed up 0.32 per cent to Rs 2,556.75 even as the company's net profit fell 2.1 per cent in the September quarter. Wholesale inflation eased to 2.60 per cent in September.

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"The rate of inflation based on WPI Food Index consisting of "Food Articles" from Primary Articles group and "Food Product" from Manufactured Products group decreased from 4.41 per cent in August to 1.99 per cent in September", the statement said.

Among specific stocks, shares of Bharat Financial Inclusion scaled to a seven year high level of Rs 1,046.70 in trade.

Major gainers were Tata Motors, Cipla, M&M, Dr Reddy's and Hindustan Unilever, rising by up to 1.72 percent. "Broad market indices like mid-cap in the NSE has closed marginally higher (up 0.21 per cent) and in the BSE closed on a flat note (up 0.04 per cent)", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

Asian stocks held firm near a 10-year high on Friday thanks to expectations of brisk global growth, although investors held off chasing the shares higher ahead of United States and Chinese economic data as well as the Chinese Communist Party congress next week. Reliance Industries climbed 0.48 per cent to end at a record high of Rs 876.70 on expectations of strong earnings from the conglomerate's core petrochemical business.