Sensex gains 100 points, Nifty holds 8,650; ITC up 3%

Markets continue to hold on to their gains supported by strong buying among index heavyweight ITC, auto and information technology shares.

By 10:47 am, the S&P BSE Sensex gained 113 points at 28,116 and the Nifty50 inched up 29 points to trade at 8,666.
Top gainers from the Sensex pack are ITC, Maruti Suzuki, Asian Paints, Hero MotoCorp and HUL, all surging between 1%-3%.

Shares of Maruti Suzuki India touched Rs 5,000 mark, a fresh record high on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), crossing the market capitalisation (m-cap) of Rs 150,000 crore on Tuesday.

FMCG majors like ITC and HUL firmed up on renewed buying interest on expectations that rural volume growth may pick up pace after the IMD said rains during August and September would be ‘above normal’. ITC has surged over 2.5%.

InterGlobe Aviation (IndiGo) dipped 7% to Rs 906 on the BSE in early morning trade after the company reported 7.3% year on year (YoY) decline in net profit of Rs 592 crore for the quarter ended June 30, 2016 (Q1FY17) due to higher non-fuel expenses.

 

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