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Nifty, Sensex end at 10-mth closing high; banks lead

Sensex-BSE

New Delhi : The market on Thursday ended at fresh 10-month closing high with the Nifty ending above 8550 for first time since August 6, 2015.

On the other hand, the Sensex was up 126.93 points or 0.5 percent at 27942.11.

Shares such as ICICI Bank, Maruti, BHEL, SBI and ITC were amongst the top gainers while ONGC, Infosys, Sun Pharma and Dr Reddy’s Labs were losers in the Sensex.

Ahead of the Monsoon Session of Parliament, the Narendra Modi government on Thursday reached out to the principal opposition party Congress over the contentious issue of Goods and Service Tax Bill.

Union Minister Venkaiah Naidu spoke to senior Congress leaders Ghulam Nabi Azad and Anand Sharma. Both Congress leaders assured Naidu that they will get back to him soon after consultations within their party.

The Monsoon Session will begin from July 18. Top Congress leaders had on Wednesday discussed its strategy in parliament on the GST Bill at party president Sonia Gandhi’s residence.

Congress has been pressing for a cap of 18 percent as part of the Constitutional Amendment bill to which government is not agreeing.

Meanwhile, IT services company Tata Consultancy Services announced that its first quarter (April-June) profit is likely to fall 4.7 percent sequentially to Rs. 6,038 crore but revenue may increase three percent to Rs. 29,300 crore, according to average of estimates of analysts polled by CNBC-TV18.

Company’s dollar revenue is seen rising 3.8 percent quarter-on-quarter to USD 4,367.5 million in quarter ended June 2016 and three percent in constant currency. (ANI)

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