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NIFTY crosses 18000 mark October 11 2021NIFTY crosses 18000 mark

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NIFTY crosses 18000 mark


On Monday, benchmark indices hit new all-time highs, with the Nifty breaking the 18,000 mark for the first time. TCS quarterly earnings weighed on investor emotions as the market opened wide down amid poor global indications. Benchmark indices, on the other hand, were able to prolong advances led by auto and financials, as well as rises in giants like Reliance Industries.


 

After reaching a new all-time high of 18,041.95, the Nifty 50 finished at 17,945.95 at 3.30 p.m., up 50.75 points or 0.28 percent. It fell to a low of 17,839.10 during the day.

The top gainers on the Nifty 50 were Tata Motors, Coal India, Maruti and Grasim, and Hindalco, while the top losers were TCS, Tech Mahindra, Infosys, Hcltech, and Wipro.

TCS was down 6.50 percent after its results for the second quarter of fiscal year 2022 fell short of market expectations.

Reliance New Energy Solar Ltd, a wholly-owned subsidiary of Mukesh Ambani-led Reliance Industries Ltd, announced two acquisitions worth about 8,600 crore as part of its 75,000-crore green energy transition plan on Sunday, pushing the stock to a new 52-week high of 2720 on the NSE.

This includes a $2.845 crore purchase of a 40% stake in the Shapoorji Pallonji-backed Sterling and Wilson Solar Ltd (SWSL) and a $771 million purchase of REC Solar Holdings by China National Bluestar (Group) Co Ltd's AS (REC Group). Markets may stay turbulent this week as IT giants like Infosys, Wipro, and HCL Technologies, as well as companies like HDFC Bank, Avenue Supermarts, and Mindtree, announce earnings. Weak global cues have exacerbated the situation.

The volatility index, or indiavix, increased 2.76 percent to 16.10.

A balanced RBI policy meeting decision revealed on Friday boosted market sentiment.

IT is under pressure.

Automobiles, real estate, financials, metals, and consumer durables all saw gains, while IT stocks dropped. Except for Nifty IT and Nifty Media, all indices were in the green.

The Nifty Auto index rose 2.67 percent, while the Nifty Realty index rose 1.73 percent. Nifty Bank gained 1.37 percent, while Nifty Financial Services gained 1.39 percent and 1.23 percent, respectively. The Nifty Metal index increased by 1.50 percent.

Nifty IT, on the other hand, was down 3.36 percent.

Broader indices


Indicators with a broader scope were also up.

The Nifty Midcap 50 index gained 0.61 percent, while the Nifty Smallcap 50 index gained 1.16 percent.

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