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Indian stock market started the new fiscal on a positive note today, with both Sensex and Nifty closing at record highs of 29,910 and 9,238, respectively -- spurred by a rally in index heavyweights RIL and L&T. Giving a fillip to the positive sentiment was the release of the Nikkei India Manufacturing PMI which increased to a five-month high of 52.5 in March, from 50.7 in February, indicating a further improvement in the health of India’s manufacturing sector. Besides, the fast paced developments on the GST resolution and improved global scenario after last week's worries regarding the US healthcare bill also strengthened the benchmark indices. The Sensex resumed higher at 29,737.73 and hovered in a range of 29,926.94 and 29,705.72 before closing at a record high of 29,910.22, showing a gain of 289.72 points, or 0.98 per cent -- also its single day biggest gain since March 14 this year. The previous closing high for Sensex was 29,681.88 logged on January 29, 2015. The NSE 50-share Nifty also rose by 64.10 points, or 0.70 per cent, to end at an all-time closing high of 9,237.85 after moving in a range of 9,245.35 and 9,192.40. Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas Mutual Fund, said, "Markets in India started the financial year 2017 on a buoyant note. Key benchmark indices opened the trading day in the positive zone and traded in the green through the day to finally close with gains of over 0.5 per cent." Heavyweight Reliance Industries jumped 3.94 per cent to Rs 1,371.20 after its telecom unit Jio extended its subscription for Prime membership and offered a complimentary service for three months. Larsen and Toubro emerged as the top gainer by surging 5.26 per cent to Rs 1,660.65. Other winners in the Sensex-pack included Dr reddy, ICICI Bank, GAIL, HDFC, Asian paints, Axis Bank, Tata Motors, HUL, Maruti Suzuki, Adani Ports and Sun Pharma. However, Infosys slipped by 1.11 per cent to Rs 1,009.45 after a fresh row erupted between some founders and the top management of the company. Other losers were Bharti Airtel, Wipro, Bajaj Auto, HDFC Bank, NTPC, TCS and Lupin -- falling up to 2.37 per cent. Sectoriwse, the BSE capital goods index gained the most by surging 3.47 per cent, followed by healthcare index 1.05 per cent, Oil&Gas index 0.77 per cent, banking index 0.67 per cent, consumer durable index 0.62 per cent and auto index 0.40 per cent. In line with overall trend, Smallcap index rose 1.29 per cent and Mid-cap index was up 0.66 per cent. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 295.92 crore last Friday, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1,499.41 crore, as per provisional data.
Today Holiday
Domestic stock markets will remain close tomorrow on account of "Ram Navami".


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Telecom stocks today surged up to 8 per cent after the recent increase in Reliance Jio tariffs, which is largely seen as positive for the sector. Shares of Bharti Airtel jumped 4.99 per cent to close at Rs 497.50 on BSE. Bharti Airtel was the biggest gainer among the 30-share index components. The scrip of Idea Cellular soared 7.74 per cent to end at Rs 98.15 and Reliance Communications zoomed 7.60 per cent to Rs 17.70. Reliance Jio made its service dearer by about 15 per cent for its popular 84-day plan at Rs 459 from October 19, under which subscribers get 1GB 4G data at high speed per day. The company restructured its various schemes by reducing their validity period. The recent increase in Reliance Jio tariffs will increase its average revenue per user by up to 20 per cent and is a positive for the telecom sector, which is seeing a rapid consolidation, says a Philip Capital report. Established telecom sector players have seen huge reduction in their margins. Idea Cellular and Reli…


Stock markets ended on a flat note on Wednesday, just below their record highs, but finished Samvat 2073 with robust gains of over 16 per cent. Equities added over Rs 25 lakh crore to investors' wealth this Samvat year. The benchmark Sensex has gained 4642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty surged 1572.85 points, or 18.20 per cent during this period.
Small loss in last session
In the last session of the Samvat 2073 on Wednesday, the 50-share Nifty fell by 23.60 points or 0.23 per cent to close at 10,210.85 after moving between 10,175.75 and 10,236.45. The Sensex resumed lower at 32,518.56 and fell further to a low of 32,462.85 before ending at 32,584.35, down 24.81 points or 0.08 per cent. Investors adopted a cautious approach ahead of the long Diwali weekend, while a weak rupee too affected sentiment, brokers said.
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The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
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