Sensex ends at record high, up over 400 points; Nifty closes above 9500

The Sensex strike its record high level in day trade, while the Nifty strike its highest day range in more than 1 week. The Sensex increase 491.79 points or 1.62 Percent at the day's high of 30,793.43 in late trade, its record high range. The index increase 50.62 points, or 0.17 Percent at the day's low of 30,352.26 in early trade. The Nifty increase 162.75 points or 1.74 Percent at the day's high of 9,523.30 in late trade, its highest day level since 17 May 2017. The index increase 18.65 points, or 0.20 Percent at the day's low of 9,379.20 in early trade. 

 Top Gainers and top losses

Larsen & Toubro, HDFC Bank, ICICI Bank and Bank of Baroda were among the top pickers, while Lupin, Dr Reddy’s Laboratories and Cipla fall the most.

Banks beat, with the Bank Nifty closing 3% upper, while the midcaps increased over a percent, snapping its six-day bearish keep running in the current past. 

Earnings: Automobile major Ashok Leyland noted its March quarter net earnings at Rs 476 crore against lost Rs 140.8 crore amid a similar period a year ago. 

The organization's revenues were gain 13.2% at Rs 7,057 crore against Rs 6,237 crore amid the relating quarter a year ago. The earnings before interest, taxes, deterioration and amortization came in lower by 7% at Rs 730 crore against Rs 783.5 crore year on year. Meanwhile, the EBITDA margin came in at 11% against 13.1% YoY 

IOC results: Indian Oil Corporation (OIL) announced 6.8% quarter-on-quarter (QoQ) drop in the net earnings to Rs 3,720 crore for the quarter closed March 31 on Thursday which was slightly beneath CNBC-TV18 survey of Rs3,796 crore. 

It announced net earnings of Rs 3,995 crore for the quarter closed Dec. 2016, IOC said in an announcement. Entire to revenues rose 6.09% on a QoQ premise and 24.5% on a y-o-y premise to Rs 1.22 lakh crore for the quarter closed March 31 which was above CNBC-TV18 estimates of Rs 98,697 crore. 

Buzzing Stock: Shares of PC Jeweller picked 6.5% day Thursday on the back of healthy fourth quarter (Q4) numbers.

The organization has noted 39.7% development in its fourth quarter (Q4) (Jan-March) net benefit at Rs 110 crore versus Rs 78.8 crore, in a similar period a year ago. Revenue of the organization expanded by 15.3% at Rs 2158 crore versus RS 1871.4 crore. Its operating earnings (EBITDA) increase 6.7% at Rs 177 crore, while EBITDA margin was at 8.2%. Other income of the organization was gain 300% at Rs 50.8 crore against Rs 12.8 crore. The board has recommended a dividend of Rs 1.30 for each inclination stocks (13%) and equity dividend of Re 1 (10%) on equity stocks for the year closed March 31, 2017.

For now, market participants were looking in front to an OPEC meeting which began previous in the day. Deeper production reduces were ruled out by Saudi Arabia, which said major oil producers had agreed to expand output curbs for a further 9 months. In an accord reached in Dec. 2016, OPEC and 11 non-members agreed to reduce oil output by about 1.8 million barrels/day in the first half of 2017.