Bank stocks rise, Nifty-50 index hit fresh intraday high

The NSE Nifty50 index hit fresh intraday high, by 100.05 points up at 10,435.35 while the BSE Sensex hovered near the day's high, up by 369.98 points at 33,583.11 in mid-morning trade at 11.20 pm on Wednesday, 1^st November. Positive leads from Asian markets together with overnight gains in the U.S market increased investors' sentiment.

Bank stocks rose. The Nifty Bank index hit a record peak of 25, 490.65 points. Among bank stocks in the Nifty50, ICICI Bank were up 4.6%, and SBI traded up 3.3%, while shares of Axis Bank rose 2.8% to Rs. 537.95.

Airtel shares hit a Ten-year high after the company posted stellar numbers for the Q2 30 September. On BSE, The stock of Airtel was the major gainer on both Sensex and Nifty advancing 8.66% to hit the record high of Rs 540.75 on BSE. 

Rupee Watch: The Indian rupee hit nearly 6-week high against the dollar. It opened at 64.67 a dollar and touched a high of 64.64 and was trading at 64.65 versus the USD, up 0.15% from its last day’s close of 64.75.

Rupee hits over 2-week high Versus US dollar

The Indian rupee today hit over two-week high against the dollar, tracking gains in Asian currencies markets. In the afternoon hours today, the rupee was trading at 64.74 against the USD, up 0.17% from its yesterday’s close of 64.85. The rupee opened at 64.83 per dollar and touched a high of 64.72 levels.

So far this year, the rupee has gained 4.5 percent, while FPIs have bought 5.80 billion dollar in equity market and 22.48 billion dollar in debt market each. The dollar index was trading at 94.519, down 0.04 percent from its previous close of 94.56.

Infosys, the top loser on the Nifty index; stock trades ex-dividend

I.T major Infosys Ltd was the top loser on the Nifty index as the company started trading ex-dividend on Tuesday. Infosys stock fell 2.4% to Rs. 921.3 posting it the biggest intraday percentage loss since Sept 4. The stock was down about 7% this year up to the close of yesterday 30 October 30.

Infosys Ltd had decided, 1^st Nov 2017 as the record date for determining the names and rights of the equity shareholders, enabling them to participate in the buyback. The buyback was announced on 19 August 2017. It involved buying back of 11.3 cr shares through a tender offer at a price of Rs.1150 per share resulting in a total offer size of Rs.13000 cr.