Sensex ends at fresh closing high of 38,024; Bankex up 1.3%

10/08/2018

new delhi: The benchmark indices settled at fresh closing high on Thursday, led by a rise in the shares of financial and realty stocks.
The S&P BSE Sensex settled at a record high of 38,024, up 137 points, while the broader Nifty 50 index closed at a new high of 11,471, up 21 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 38,076.23. The Nifty50 index, on the other hand, touched its record high level of 11,495.20.
In stocks, ICICI Bank settled 4.64 per cent higher at Rs 332.95 while Axis Bank rose 3.86 per cent at Rs 619.45 on the BSE.
Among sectoral indices, the Nifty PSU Bank index gained around 3 per cent led by rise in Union Bank of India and Bank of India. The Nifty Realty index too, moved up 2 per cent led by DLF and Unitech.
Shares of public sector undertaking (PSU) bank were in focus with the Nifty PSU Bank index gaining around 3% on the National Stock Exchange (NSE) in an otherwise range-bound market on Thursday.
Union Bank of India, Allahabad Bank and Oriental Bank of Commerce were up 5% each, while Andhra Bank, Bank of India, Canara Bank, Bank of Baroda, Syndicate Bank, Punjab National Bank (PNB) and State Bank of India (SBI) were up in the range of 3% to 4% on the NSE.
Asian share markets found support on Thursday as a rally in Chinese stocks helped offset the latest escalation in the Sino-US trade war, while Russia's rouble tumbled as the United States slapped fresh sanctions on the country.
Shanghai blue chips climbed 2.7 per cent amid talk of possible government support for home-grown technology companies, just the latest in a series of growth boosting measures rolled out by Beijing as the trade dispute worsens.
The gains in Chinese stocks helped MSCI's broadest index of Asia-Pacific shares outside Japan reverse early losses to nudge up 0.5 per cent. Japan's Nikkei slipped 0.2 per cent, weighed in part by a shock slump in core machinery orders.

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