Sensex Crosses 40,000 Mark For the First Time Since July 2019 on Good Corporate Earnings
The rally has been on the back of better-than-expected corporate earnings and expectations of tax realignment on equities. The Sensex had hit an all-time intra-day high of 40,312 on June 4 this year. HDFC twins, Infosys, ITC and L&T lifted the index. Infosys, up over 2.6 per cent, was the top gainer in the trade.
Mumbai, October 30: The Indian stock market opened on a strong note on Wednesday, crossing the 40,000 level for the first time since July this year. The rally has been on the back of better-than-expected corporate earnings and expectations of tax realignment on equities. Sensex was trading at 40,031.66, up 200 points and Nifty was at 11,843.50, up 0.5 percent at the time of publishing the copy.
The Sensex had hit an all-time intra-day high of 40,312 on June 4 this year. HDFC twins, Infosys, ITC and L&T lifted the index. Infosys, up over 2.6 percent, was the top gainer in the trade. Meanwhile, Tata Motors, down 1.6 percent, was the top loser. Diwali Muhurat Trading Ends: Sensex Closes 192 Points Higher on 1st Day of Hindu Samvat 2076, Nifty Reclaims 11,600 Mark.
Since US President Donald Trump outlined what he called the first phase of a trade deal with China earlier this month, investors have bet on a trade truce between the two countries, driving global equities higher. Concor, Tata Global Beverages, and Tata Chemical are among the 61 companies scheduled to announce their September quarter results today.
(The above story first appeared on LatestLY on Oct 30, 2019 11:35 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).