Published: Wed, May 09, 2018
Money | By Wilma Wheeler

Nifty ends above 10700-mark, up 97 points

Nifty ends above 10700-mark, up 97 points

ICICI Bank was the star performer in Tuesday's session, comfortably topping the gainers' list by surging almost 7 percent.

Godrej Consumer Products stock gained 1.5% after the company posted that its net profit rose 59% year-on-year to Rs617cr for the fourth quarter ended March led by its strong soap business.

At 9.22 a.m, the Sensex was trading up 105.40 points or 0.30% at 35,313.54 with 18 components gaining.

The broader NSE Nifty ended 0.02 percent higher at 10,717.8, holding above 10,700 level for a second straight session.

The Sensex succumbed to profit-booking by investors ahead of Karnataka elections this week, with the gauge sinking to the day's low of 35,136. The market breadth was negative as 1148 shares advanced, against a decline of 1489 shares, while 141 shares are unchanged.

ICICI Bank (+7%), HPCL (+3.5%), BPCL (+2.3%), SBI (+1.9%) and Eicher (+1.5%) were the top gainers on Nifty50.

Asian shares ended mixed despite the strong closing on Wall Street as investors digested last week's trade talks and United States jobs numbers. The major losers were Mahindra and Mahindra, Larsen and Toubro and Infosys.

However, European shares opened broadly flat as investors prepared for President Donald Trump's decision on whether to withdraw the USA from the Iran nuclear deal.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 97.15 crore, while the domestic institutional investors purchased stocks worth Rs 923.25 crore.

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