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Stock impact report

Sensex, Nifty hit record highs; ITC leads gains [Reuters]

ICICI Bank Limited (IBN) 
Company Research Source: Reuters
Sensex, Nifty hit record highs; ITC leads gains | Reuters 3 Min Read (Reuters) - Indian shares got off to a solid start on Friday as the fresh derivatives series opened, with both indexes hitting record highs on strong quarterly results, including that of index heavyweight ITC Ltd. ITC, the country’s biggest cigarette maker, surged to a year-high after June-quarter profit beat expectations late on Thursday. ITC accounted for about a quarter of the broader NSE index’s gains. Bank shares extended gains with the index of state-run bank stocks rising 1.4 percent. The index rose 7.9 percent in the last three sessions, after lenders lined up to enrol for a scheme for faster bad-loan resolution. Markets will now turn focus on the central bank policy meet next Wednesday. “Markets won’t necessarily react negatively if there is a rate hike with positive commentary from RBI,” said Anita Gandhi, whole-time director at Arihant Capital Markets. “With good monsoon (rains) and strong corporate result Show less Read more
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