Indian shares extend record-breaking run; autos, banks rally

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Indian share benchmarks hit record intra-day highs and closed nearly flat on Thursday, shade higher than Wednesday, as investors booked profits amid a choppy trading session.

The Sensitive Index (Sensex) of the BSE, which had closed at 30,248.17 points on Wednesday, opened higher at 30,309.71 points.

At 3.15 pm, the 30-share BSE index Sensex was up 16.53 points or 0.05 per cent at 30,264.70 and the 50-share NSE index Nifty was up 16.1 points or 0.17 per cent at 9,423.40.

This is published unedited from the IANS feed.

Asian shares, however, edged up for a third consecutive day.

In contrast, China's Shanghai Composite index was quoting in red, down by 0.48 per cent.

"The focus has been on the corporate results season, which has done quite well so far", said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

The weekend rally on the Wall Street on strong U.S. jobs report and pro-European centrist Emmanuel Macron's victory in the French presidential election kept vibes positive.

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"Appreciation of Indian rupee against the U.S. dollar also supported the firmness".

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth Rs 542.47 crore while domestic institutional investors (DIIs) purchased scrips worth Rs 663.33 crore.

"But profit booking towards the end of session dragged the stocks off their session highs".

The scrip is now trading 3.61 per cent higher on the NSE.

South Korean stocks led losers as investors took profits after liberal leader Moon Jae-in was elected president, while Chinese shares closed lower after factory gate prices ion the world's second-biggest economy cooled more than expected in April.

Sectorwise, the S&P BSE banking index augmented by 202.61 points, followed by the automobile index, which surged by 155.59 points, and the IT index was up by 127.43 points.

The NSE index was last up 0.42 percent while the BSE index was last up 0.36 percent.

However, Bharti Airtel fell 2.21 percent, Gail 2.14 percent, ONGC 1.94 percent, HUL 1.78 percent, Axis Bank 1.69 percent, NTPC 1.39 percent, Coal India 1.20 percent, Power Grid 1.14 percent and Tata Motors 1.08 percent.

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