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Sensex hits record high

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Last Updated : Jun 22 2017 | 2:01 PM IST

Key benchmark indices extended gains and hit fresh intraday high in mid-morning trade. At 11:16 IST, the barometer index, the S&P BSE Sensex, was up 208.85 points or 0.67% at 31,492.49. The Nifty 50 index was up 52.30 points or 0.54% at 9,685.90. Positive Asian cues boosted investors sentiment.

The Sensex hit record high level in mid-morning trade. The Nifty hit a two-week high in mid-morning trade. The Sensex rose 217.47 points, or 0.70% at the day's high of 31,501.11 in mid-morning trade, its record high level. The index rose 53.32 points, or 0.17% at the day's low of 31,336.96 in morning trade. The Nifty rose 55.85 points, or 0.58% at the day's high of 9,689.45 in mid-morning trade, its highest level since 8 June 2017. The index rose 8.75 points, or 0.09% at the day's low of 9,642.35 in morning trade.

Among secondary barometers, the BSE Mid-Cap index was up 0.58%, underperforming the Sensex. The BSE Small-Cap index was up 0.72%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,444 shares rose and 827 shares fell. A total of 107 shares were unchanged.

Telecom shares were in demand. Tata Teleservices (Maharashtra) (up 1.76%), MTNL (up 1.39%), Idea Cellular (up 0.50%) and Bharti Airtel (up 0.48%), edged higher.

Telecom tower infrastructure provider Bharti Infratel was up 0.94%

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Reliance Communications was up 3.04%. The company clarified with regards to news titles 'Rcom puts Mumbai, Delhi real estate assets on the block to pare debt', that the company has initiated the monetization programme for its real estate properties. The announcement was made after market hours yesterday, 21 June 2017.

Hindustan Unilever fell 1.69% to Rs 1,104.70 after the stock turned ex-dividend today, 22 June 2017, for final dividend of Rs 10 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.89% based on the closing price of Rs 1,123.70 yesterday, 21 June 2017.

Alembic Pharmaceuticals gained 1.05% to Rs 537.50 after the company received approval from US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Amantadine Hydrochloride Capsules, USP, 100 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product Symmetrel Capsules, 100 mg of Endo Pharmaceuticals Inc. The announcement was made before market hours today, 22 June 2017.

Amantadine Hydrochloride Capsules USP, 100 mg are indicated for the prophylaxis and treatment of signs and symptoms of infection caused by various strains of influenza A virus. The drug is also indicated in the treatment of parkinsonism and drug induced extrapyramidal reactions. Amantadine Hydrochloride Capsules have an estimated market size of $37 million in US for twelve months ended December 2016 according to IMS.

Nila Infrastructures was up 0.85% to Rs 17.70 after the company said it has secured a work order from Ahmedabad Municipal Corporation (AMC) for the Integrated Slum In-Situ Development for public private partnership (PPP) project of about 360 residential units at Ahmedabad under Urban Development & Urban Housing Department, Government of Gujarat's Slum Rehabilitation and Redevelopment Policy-2013. The announcement was made after market hours yesterday, 21 June 2017.

The redevelopment project's total cost outlay is about Rs 25.16 crore with a timeframe of 24 months. As remuneration, the company will get the balance vacant land of about 1,893 sq. mts worth Rs 7.58 crore and the transferable development rights (TDR) of Rs 17.58 crore.

Overseas, most Asian shares edged higher as crude oil prices inched up after hitting a 10-month low overnight. In US, the S&P 500 and Dow industrials ended slightly lower overnight, weighed down by losses in the energy sector as oil prices continued to slide. But the Nasdaq Composite posted moderate gains thanks to a surge in biotechnology shares.

The S&P 500 index closed with a loss of 1.42 points, or less than 0.1%, at 2,435.61. The Dow Jones Industrial Average lost 57.11 points, or 0.3%, to 21,410.03. The Nasdaq Composite Index bucked the trend, closing 45.92 points, or 0.7%, higher at 6,233.95.

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First Published: Jun 22 2017 | 11:16 AM IST

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