Business
Markets High : Sensex Rallies Over 300 Points, Nifty Breaches 11, 200 Mark
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In a shot in the arm for the markets that saw a strong surge in points , the Sensex rallied over 300 points, while the Nifty breached the 11,200 mark for the first time in early trade as ITC lifted benchmark bourses to fresh life-time highs after posting strong Q1 results.
NSE Nifty, too, jumped 77 points or 0.69 percent to quote at a 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 percent.
ITC was the top gainer in the Sensex pack, surging 6.48 percent to Rs 305.75, after it posted 10 percent increase in standalone net profit at Rs 2,818.68 crore for the first quarter ended on 30 June, 2018, aided by lower expenses, good growth in agri-business and other FMCG business despite decline in cigarettes sales.
Other notable gainers were the 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 percent.