Sensex ends higher for 8th day, Nifty settles above 10500

Monday, 16 Apr, 2018

The Sensex touched a high of 34,341.46 points and a low of 33,899.34 points during the intra-day trade.

Infosys Ltd shares fell as much as 6% after the company lowered its operating margin outlook and its plan to sell Panaya and Skava.

Other major laggards were Wipro, Tata Motors, ONGC, Axis Bank, NTPC, RIL, Dr. Reddy's, SBI, ICICI Bank, Bharti Airtel, Asian Paints, Maruti Suzuki and Tata Steel, falling by up to 1.54 percent. Inflation based on wholesale prices eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables.

Wholesale inflation was 2.48 per cent in February and 5.11 per cent in March a year ago.

Besides, reflecting further improvement in the economic situation, industrial production grew by a healthy 7.1 per cent in February while the key retail inflation slipped to a five-month low of 4.28 per cent in March, official data showed on Thursday.

Meanwhile, the NSE and the BSE, along with banks, Stock Holding Corporation of India Limited (SHCIL), and designated post offices, has started selling Sovereign Gold Bond, 2018-19-Series-I bonds from Monday.

The wider Nifty50 closed higher by 41.50 points or 0.40 per cent to 10,458.65 points, while the Sensex closed at 34,192.65 points, up 91.52 points or 0.27 per cent.

The index had risen 1,173.88 points in the past seven sessions.

The broader 50 share Nifty of the National Stock Exchange (NSE) was trading lower by 84.25 points (0.80 percent) at 10396.35.

Tata Motors Ltd shares declined over 2% after a news report said that Jaguar Land Rover is planning to cut almost 1,000 jobs as it scales back production at some of its United Kingdom sites.