Mumbai, Jul 10 (PTI) The BSE Sensex surged by over 355
points to record a new closing high of 31,715.64 and NSE Nifty
settled above the 9,700-mark for the first time, even as
technical glitches disrupted trade on NSE for hours leaving
The first session of the day’s trading was marred by
chaos on NSE — the country’s biggest stock exchange — as it
struggled to keep the trading session going.
Trading was disrupted after price quotations for
individual stocks and indexes failed to update. Following
this, officials announced stoppage of cash and F&O segment due
to technical reasons. The bourse apologised for the glitch
saying it was examining the matter to identify the cause of
the outage. Finally, trading could only begin after 1230hrs.
The finance ministry took note of it and sought a report
from Sebi on the technical glitch in the NSE system that had
led to trading disruptions. Sources in the ministry said it
was a technical problem that led to trading disruptions,
ruling out any instance of hacking.
Sources said Sebi is constantly monitoring the situation
and this sort of problem is a serious concern for the
ministry, hoping that such situations do not recur.
The 30-share BSE index resumed higher and remained in the
positive terrain throughout the day and hit an all-time high
of 31,768.39 (intra-day) before ending 355.01 points, or 1.13
per cent higher, its biggest single session gain since May 25,
at new record closing of 31,715.64, surpassing its previous
record high of 31,369.34 hit on July 6. It had also breached
its intra-day-high of 31,522.87 points reached on June 22.
The 50-share NSE Nifty also rose by 105.25 points, or
1.09 per cent, to 9,771.05, its record closing high, breaching
its previous record high of 9,675.10 recorded on June 5. It
also touched an all-time high of 9,782.20 (intra-day),
surpassing 9,709.30 reached on June 6.
Sustained buying by domestic institutional investors kept
the momentum going in the markets today amid optimism over the
upcoming earnings season. All eyes are now on TCS which will
be among the first lot to post its earnings numbers on July
The market rally was driven by strong buying in teck, IT,
PSU and healthcare counters after participants widened their
bets ahead of Q1 earnings.
“First half of the day was a complete chaos as trading
was halted in one of the major exchanges, NSE due to a
technical glitch. The trading activity resumed higher in line
with its peer exchange (BSE) and as a result, the Nifty
registered yet another all-time high way above the 9,750 mark
on a closing basis as well,” Sameet Chavan, Chief Analyst-
Technical and Derivatives, Angel Broking said.
Bharti Airtel at 5.39 per cent was the biggest Sensex
gainer, followed by TCS at 4.66 per cent, Wipro 4.64 per cent.
Coal India 3.25 per cent, Lupin 2.96 per cent, Infosys 2.46
per cent, Sun Pharma 2.42 per cent, Tata Motors 2.28 per cent,
ONGC 1.97 per cent and SBI 1.91 per cent.
Other Sensex components that also gained were L&T, Axis
Bank, Adani ports, Asian Paint, Dr Reddy’s, Tata Steel,
PowerGrid, Bajaj Auto and Cipla, gaining by up to 1.56 per
“Investors were hopeful ahead of the start of earnings
season but, a technical glitch in the NSE impeded today’s
trade. Market soared to an all-time high level after it
resumed trading, but the technical difficulties persisted and
it affected the volumes.
“Lack of clarity around today’s trade may keep the
investors a bit cautious and lend some volatility to
tomorrow s trades, but they are likely to be put aside, as
earnings and macro numbers flow in, Anand James, Chief Market
Strategist, Geojit Financial Services Ltd said.
Domestic Insgtitutiolnal Investors (DIIs) bought shares
woreth Rs 720.08 crore, while Foreign portfolio investors sold
shares worth a net Rs 522.08 crore on Friday, as per
provisional data from stock exchanges.
However, M&M, ITC Ltd and Hind Unilever retreated on
Sector-wise, BSE teck index gained the most by rising
2.95 per cent, followed by IT index 2.92 per cent, PSU 1.74
per cent, metal 1.43 per cent, capital goods 1.19 per cent,
healthcare 1.14 per cent, bank 1.06 per cent, power 0.99 per
cent, realty 0.95 per cent and oil&gas 0.90 per cent.
In tandem with overall trends, the broader markets too
turned bullish as buying activity gathered momentum lifting
the mid-cap index by 0.67 per cent and small-cap by 0.43 per
In the Asian region, Japan’s Nikkei rose 0.76 per cent,
Hong Kong’s Hang Seng rose 0.63 per cent, while China’a
Shanghai Composite Index fell 0.17 per cent.
European indices such as Germany, France and the UK were
trading in the green in early trade.
This is published unedited from the PTI feed.