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Sensex Jumps 348 Points On Earnings Optimism; Nifty Nears 10100

12 October 2017

Intra-day, the NSE had scaled a high 10,104.45.

The BSE market breadth was bearish - 1,840 declines and 918 advances.

Himachal Pradesh assembly polls on Nov 9, results on Dec 18
To assess poll preparedness, a team of Election Commission officials headed by the CEC was on a visit to Gujarat recently. The counting of votes will be held on December 18. # A total 7521 of polling stations to be set up in Himachal Pradesh.

"Sectorally, except IT and energy, all the sectors of broader market have closed in the negative".

The markets opened on a positive footing, after plunging nearly 100 points. "Investor's expectation on some tailwinds in IT stocks ahead of results kept the counter busy", said Vinod Nair, Head of Research, Geojit Financial Services Ltd. Notably, the shares of TCS gained as the Indian IT bellwether is scheduled to announce its much awaited quarterly earnings today.

India face African challenge
Understandably, he had to devise a defensive gameplan and banking on counter-attacks through quick transition to offensive mode. Their two full backs - left (Najeeb Yakubu) and right (Rashid Alhassan) are very fast and they come out to support the attack.

Sensex heavyweight Reliance Industries stole the show, surging 3.82 per cent to end at Rs 872.50 ahead of the second quarter earnings slated for Friday.

On the currency front, the rupee strengthened by 13-14 paise to close at 65.14-15 against the U.S. dollar from its previous close at 65.28.

Ashish Nehra set to retire from cricket on November 1
The Delhi-native has collected 44, 157 and 34 wickets in Test, ODI and T20I cricket in his 18-year global career. Nehra is now part of three-match T20I series against Australia but he didn't feature in the first two matches.

The BSE small-cap added 1.15 per cent while mid-cap ended 0.98 per cent higher. Metal and pharma stocks led the rally with Nifty Metal and Nifty Pharma sub-indices gaining 2 per cent and 1.5 per cent respectively. It was followed by Reliance Industries (Rs. 551.32 million), Tata Consultancy Services (Rs. 476.16 million) and State Bank Of India (Rs. 316.60 million).

Sensex Jumps 348 Points On Earnings Optimism; Nifty Nears 10100