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Friday 27 Jul 2018 11.33 AM

Sensex rallies over 300 pts; Nifty breaches 11,200 mark

Sensex, Nifty

Mumbai : The Sensex rallied over 300 points, and Nifty breached the 11,200 mark for the first time in early trade today, as ITC lifted benchmark bourses to fresh life-time highs after posting strong Q1 results. Better-then-expected quarterly earnings by select index heavyweights, positive Asian cues and firm foreign capital inflows boosted investor sentiment here.

Keeping up its record setting spree for the fifth straight session the 30-share Sensex added 308.77 points, or 0.83 per cent, to hit a new peak of 37,293.41. The index had gained 633.41 points in the previous five straight sessions. NSE Nifty, too, jumped 77 points or 0.69 per cent to quote at new high of 11,244.30. All BSE sectoral indices, led by FMCG, metal, consumer durables, banking, power and auto, rose up to 1.27 per cent.

ITC was the top gainer in the Sensex pack, surging 6.48 per cent to Rs 305.75, after it posted 10 per cent increase in standalone net profit at Rs 2,818.68 crore for the first quarter ended on June 30, 2018, aided by lower expenses, good growth in agri-business and other FMCG business despite decline in cigarettes sales.

Other gainers were Tata Steel, ICICI Bank, Hero MotoCorp, Bajaj Auto, Asian Paints, Kotak Bank, Bharti Airtel, Tata Motors, HDFC Bank, Vedanta, HDFC and Wipro, surging up to 3 per cent. RIL rose 0.45 per cent to Rs 1,115.45, ahead of its quarterly earnings scheduled today.

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