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The Sensex and Nifty ended at yet another record high as the Economic Survey has said India will re-establish itself as the world’s fastest growing major economy with GDP expanding by 7-7.5 per cent in 2018-19.
The S&P BSE Sensex ended higher by 232.81 points or 0.65 per cent at 36,283.25, after earlier climbing as much as 1.09 per cent to an all-time high of 36,443.98. The Nifty50 ended up by 60.75 points or 0.65 per cent at 11,130.40, after rising as much as 0.92 per cent to a record high of 11,171.55.
Among BSE sectoral indices, auto index was the star-performer and was up 1.6 per cent, followed by IT 1.16 per cent, TECk 0.92 per cent and consumer durables 0.6 per cent. On the other hand, PSU index fell 1.22 per cent, infrastructure 0.95 per cent, healthcare 0.92 per cent and oil & gas 0.85 per cent.
Top five Sensex gainers were Maruti (+3.85%), HDFC (+2.66%), TCS (+2.48%), Hero MotoCorp (+2.23%) and Kotak Bank (+2.06%), while the major losers were Dr Reddy's (-5.92%), Bharti Airtel (-2.66%), ITC (-1.85%), YES Bank (-1.64%) and ONGC (-1.58%).
Closing bell: The Sensex surged 232.81 points to close at a record 36,283.25 and the Nifty jumped 60.75 points to end at a new peak of 11,130.40.
Top losers on NSE
Top gainers on NSE
Top losers on BSE
Top gainers on BSE at 3.05 pm
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The S&P BSE Sensex surged to an all-time high of 36,443.98 and the Nifty50 scaled a new peak of 11,166.95 as the Economic Survey has pegged India’s GDP growth rate between 7 per cent and 7.5 per cent.
At 2 pm local time, the 30-share BSE index Sensex was up 328.75 points or 0.91 per cent at 36,379.19 and the 50-share NSE index Nifty was up 83.8 points or 0.76 per cent at 11,153.45.
Among BSE sectoral indices, auto index was the star-performer and was up 1.8 per cent, followed by IT 1.54 per cent, TECk 1.25 per cent and metal 1.11 per cent. On the other hand, PSU index fell 0.58 per cent, infrastructure 0.53 per cent, FMCG 0.47 per cent and healthcare 0.39 per cent.
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The S&P BSE Sensex was trading higher by 320.97 points or 0.89 per cent at 36,371.41 and the Nifty jumped 84.8 points or 0.77 per cent at 11,154.45 as the Economic Survey has pegged India’s GDP growth rate between 7 per cent and 7.5 per cent.
12.15 pm
Weekly trading guide
SBI (₹313.5)
The near-term outlook is unclear. Support is in between ₹310 and ₹305. If the stock manages to sustain above this support zone, a bounce to revisit the resistance at ₹325 is possible.
ITC (₹280.8)
The strong rally over the last three weeks is giving an initial confirmation that this downtrend is getting reversed. The current rally can continue to test the key resistances at ₹285 and ₹290. But the possibility of this upmove halting at ₹285 or ₹290 cannot be ruled out.
Infosys (₹1,170.8)
As long as the stock remains below ₹1,190, a fall to ₹1,150 or ₹1,130 cannot be ruled out. A break below ₹1,130 will increase the likelihood of the stock extending its corrective fall to ₹1,100 or ₹1,090.
RIL (₹964.5)
Immediate resistance is at ₹971. Inability to break above this hurdle can keep the stock pressured on the downside. As long as the stock remains below ₹970, it can fall to ₹940 or ₹930.
Tata Steel (₹769)
Tata Steel will gain fresh momentum if it breaks above ₹792 decisively. Such a break will see the current uptrend resuming towards ₹800. A strong break ₹800 will see the uptrend extending towards ₹850 thereafter.
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A file photo of the Securities and Exchange Board of India. REUTERS
The Sensex hit an all-time high of 36,410.60 and the Nifty hit 11,160 owing to positive sentiment ahead of the release of the government's annual economic survey later in the day and the 2018-19 fiscal budget later this week.
The economic survey, due to be released around 0630 GMT (1200 India time), provides the government's forecasts across key metrics such as growth and inflation, and is seen in markets as a harbinger of the federal budget, which will be unveiled on Thursday.
At 11.35 a.m., the 30-share BSE index Sensex was up 335.48 points or 0.93 per cent at 36,385.92 and the 50-share NSE index Nifty was up 84 points or 0.76 per cent at 11,153.65. - Reuters
Dollar at 3-year low: The dollar wobbled near three-year lows against a basket of major currencies on Monday, struggling to pull ahead from six straight weeks of losses amid its evaporating yield advantage and doubts about Washington's commitment to a strong currency. Read more
11.00 am
Gold prices : Gold prices inched higher early on Monday as the US dollar hovered around three-year lows, trading not far off more than 17-month highs hit last week. Read more
Asian markets : MSCI's broadest index of Asia-Pacific shares outside Japan added 0.19 per cent in early trade and aiming for a 12th straight session of gains. It is up nearly 8 per cent for the year so far. Japan's Nikkei rose 0.2 per cent, though the export sector was again struggling with a rising yen. Read more
9.55 am
The S&P BSE Sensex surged 267.58 points or 0.74 per cent to 36,318.02 and the Nifty50 climbed 68.4 points or 0.62 per cent to 11,138.05.
Among BSE sectoral indices, IT index gained the most by 1.64 per cent, followed by auto 1.43 per cent, metal 1.37 per cent and TECk 1.16 per cent. On the other hand, oil & gas index fell 0.62 per cent, PSU 0.61 per cent, infrastructure 0.4 per cent and realty 0.31 per cent.
9.30 am
Index Outlook: Both the Nifty and Sensex continued their rally last week, but witnessed volatility at higher levels. This week will be action packed, starting with updates from Fed meeting, Budget 2018-19, January auto sales data and ending with January US jobs data. Read more
Pre-open trade : The 30-share BSE index Sensex jumped 147.80 points or 0.41 per cent at 36,198.24 and the 50-share NSE index gained 33.25 points or 0.3 per cent at 11,102.90.
Opening bell: The Sensex hit all-time high of 36,284.11, and the Nifty touched a new peak of 11,123.40 as February series began on a bullish note.
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