Bulls bounce back: Sensex up over 650 points

The Sensex extended 654 points or 1.9% at 34,655 while, the Nifty index is up 157 points or 1.54% at 10,392.

Oct 12, 2018 05:10 IST India Infoline News Service

Equity benchmark indices reversed yesterday's losses and opened higher after recovery in the rupee and falling crude prices. The Sensex is up 633 points or 1.86% at 34,634 while, the Nifty index is up 187 points or 1.84% at 10,423.

Bajaj Finance, UPL, HPCL, Mahindra & Mahindra and Indiabulls Housing Finance climbed 4-5% in the Nifty pack.

Hindustan Unilever advanced 1.7% ahead of its September quarter earnings announcement.

TCS fell nearly 3% on the NSE despite of reporting better than expected numbers for Q2FY19 on all fronts. The company’s PAT increased 7.6% qoq to Rs7,901cr against median consensus estimates of Rs7,854cr.

From IT space, even Infosys was down 1.6%, while HCL Technologies gave up 3% and Wipro lost 1%.

Shares of OMCs were trading up amid marginal fall in global crude oil prices. The BSE Oil & Gas index was trading 1.95% up at 13,131 with all components in the green zone.

Yes Bank jumped 5% after appointing US-based headhunter Korn Ferry to assist an expert panel searching for a successor to outgoing MD and CEO Rana Kapoor. He has been asked by the Reserve Bank to step down after January 2019.

The most active stocks are TCS, YES Bank, Reliance Industries, Bajaj Finance and DHFL.

The breadth of the market favoured advances, with 1,465 stocks advancing, 168 declining and 415 remaining unchanged on NSE.

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