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Sensex, Nifty hit record high

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Last Updated : Apr 27 2017 | 12:01 AM IST

Key benchmark indices were trading higher in early trade on positive global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 99.04 points or 0.33% at 30,042.28. The Nifty 50 index was currently up 20.35 points or 0.22% at 9,326.95. The Sensex and the Nifty, both hit their record high levels in early trade.

The Sensex rose 128.37 points, or 0.43% at the day's high of 30,071.61 in early trade, its record high level. The Nifty rose 36.55 points, or 0.39% at the day's high of 9,343.15 in early trade, its record high level.

Among secondary barometers,the BSE Mid-Cap index was currently up 0.34%. The BSE Small-Cap index was currently up 0.55%. Both these indices outperformed the Sensex.

The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,054 shares rose and 378 shares fell. A total of 45 shares were unchanged.

Overseas, Asian indices traded higher following the rise in US stocks on the back of strong earnings announcements and on expectations for US President Donald Trump's impending tax reforms. In the US, stocks soared as McDonald's and Caterpillar reported strong earnings, with the Nasdaq surpassing the 6,000 mark for the first time. The Dow Jones industrial average surged 1.12% to close at 20,996.12.

IT major Wipro was up 3.40%. The company's consolidated net profit rose 7.2% to Rs 2267 crore on 4.86% rise in total income to Rs 15033.80 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours yesterday, 25 April 2017.

Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board said that the company is confident that the recovery in energy and utilities and demonstrated strength in digital will help improve growth trajectory during the course of the current financial year.

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Mahindra & Mahindra (M&M) was up 0.96%. The company announced that Mahindra Overseas Investment Company (Mauritius) (MOICML), a wholly owned subsidiary of the company, has acquired 100% of the equity share capital of Mahindra Automotive North America Inc. (MANA) in USA. In view of this, MANA has become a wholly owned subsidiary of MOICML and in turn, of the company with effect from 25 April 2017. The announcement was made after market hours yesterday, 25 April 2017.

Adani Ports and Special Economic Zone (APSEZ) was up 0.45%. The company achieved a new milestone in the ports infrastructure industry in India, with a strategic collaboration with CMA Terminals (CMAT) - part of the France based CMA CGM group, owner of one of the world's leading Container Carriers and port operators. Pursuant to a joint venture agreement signed in July 2014 between APSEZ and CMAT, now marked a watershed moment, when these two conglomerates operationalised the new container terminal named Adani CMA Mundra Terminal Private Limited (ACMTPL).

The establishment of this brand new state-of-the-art container terminal offers India's trade with another world class facility on the West coast of India, strategically located in closer proximity to the vast North and Central Indian hinterlands. The relatively advantageous location has made Mundra port ideally poised to position itself as the major gateway port for the India's western coast.

This new container terminal, which is now operational has been commissioned three months ahead of schedule, will serve to showcase the strengthening national ties between Indian and French economies and is a great initiative between a leading India conglomerate and global shipping and ports company. The announcement was made after market hours yesterday, 25 April 2017.

LIC Housing Finance was up 0.25%. The company's net profit rose 18.12% to Rs 529.18 crore on 11.85% rise in total revenue to Rs 3661.86 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 25 April 2017.

Dilip Buildcon was up 0.47%. The company announced that three separate special purpose vehicles (SPV) companies have been incorporated for the respective projects after the receipt of letter of award from the National Highways Authority of India (Ministry of Road Transport & Highways, Government of India) for three projects in a single stretch in Maharashtra as announced in March. The announcement was made before market hours today, 26 April 2017.

VA Tech Wabag was up 0.26%. The company announced that VA Tech Wabag (Spain) S.L.U, Spain, the company's wholly owned subsidiary is liquidated. The announcement was made after market hours yesterday, 25 April 2017.

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First Published: Apr 26 2017 | 9:26 AM IST

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