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Sensex nears 30,000-mark

Benchmark Nifty closed above the 9,300-mark for the first time in its history today, while the Sensex soared 287 points to a three-week high on widespread buying, spurred by strong results and upbeat global cues. The 50-share Nifty rallied 88.65 points, or 0.96 per cent, to reach its new lifetime closing high of 9,306.60, surpassing the previous record close of 9,265.15 on April 5. Intra-day, it surged to 9,309.20, breaking its previous intra-day record of 9,273.90 reached on April 5. The BSE 30-share Sensex surged 287 points to end at a three-week high of 29,943.24, after shuttling between 29,961.82 and 29,780.84. The gauge had gained 290.54 points yesterday. This is the highest closing for Sensex since April 5, when it had ended on 29,974.24. Brokers said a string of strong quarterly earnings, including from index heavyweight RIL, and appreciating rupee accelerated buying activity. The rupee ended at 64.26 against the dollar, up 18 paise. Asian shares ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election. "Earnings from both private as well as public sector has shown encouraging signs, lifting banking stocks, while Nifty’s surge to 9,300 gave added vigour to market. "Government’s push in the infra and affordable housing space has also kept housing, cement and realty stocks buzzing,” said Anand James, Chief Market Strategist, Geojit Financial Services. Meanwhile, domestic funds bought shares worth a net Rs 984.17 crore yesterday, while foreign portfolio investors (FPIs) sold stocks worth a net Rs 279.55 crore, as per provisional data from the stock exchanges. Shares of Reliance Industries rose 1.14 per cent after the company yesterday posted a record fourth quarter net profit of Rs 8,046 crore. Globally, key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan rose by 0.16 - 1.31 per cent. European stocks were trading higher, extending previous day's gains, as investors monitored political developments in France ahead of the European Central Bank's policy meeting later in the week. Key indices in France, Germany and UK rose by 0.03 - 0.18 per cent. US markets rallied yesterday as concerns over France's potential exit from the euro currency bloc eased. The Dow Jones Industrial Average jumped 216.13 points to close at 20,763.89. The S&P 500 surged 25.46 points to 2,374.15. Back home, out of the 30-share Sensex pack, 24 scrips ended higher. Major gainers were M&M (3.40 per cent), Axis Bank (3.40 per cent), Bharti Airtel (3.18 per cent), Hero Motoco (2.93 per cent), Asian Paints (2.40 per cent), HUL (2.13 per cent), ITC (1.79 per cent), Power Grid (1.44 per cent), Dr Reddy's (1.43 per cent), ICICI Bank (1.43 per cent), Bajaj Auto (1.30 per cent), HDFC (1.14 per cent) and Reliance (1.14 per cent). However, TCS fell 0.76 per cent, followed by Cipla 0.58 per cent, Gail 0.39 per cent and NTPC 0.30 per cent. Among BSE sectoral and industry indices, telecom rose 2.62 per cent, FMCG 1.67 per cent, realty 1.26 per cent, oil&gas 1.23 per cent, energy 1.20 per cent, finance 1.18 per cent, auto 1.15 per cent and bankex 1.03 per cent. Broader markets too were in a better shape, with the BSE mid-cap index rising 1.06 per cent and the small-cap index gaining 0.58 per cent. The market breadth remained positive as 1,467 stocks ended higher, 1,444 closed lower while 169 ruled steady. The total turnover on BSE amounted to Rs 4,006.89 crore, lower than Rs 4,360.76 crore registered during the previous trading session.


Total market valuation of all companies listed on BSE touched a lifetime peak of over Rs 125 lakh crore today helped by strong gains in broader market. The BSE 30-share Sensex surged 287 points to end at a three-week high of 29,943.24, after shuttling between 29,961.82 and 29,780.84. Following rise in stocks, the market capitalisation (m-cap) of BSE-listed companies soared to Rs 1,25,53,561 crore. The m-cap of BSE companies had surged over Rs 124 lakh crore yesterday. Investor wealth also rose by Rs 1.11 lakh crore today.


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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).
There are 29 pu…