Indian stock markets scale new highs

Indian stock markets extended their record run this week, with the Sensex and Nifty both scaling new peaks.

The Sensex gained over 244 points to touch 38,938 while the Nifty50 index hit 11,760 amid higher global markets.nse

Market heavyweight Reliance Industries (RIL) led the charge, with shares rising 2% to Rs 1,318.20.

ril

Metals, IT and auto stocks also had gains. The NSE metal index surged 1.8% amid a rebound in global commodity prices. Vedanta, Adani Ports, Maruti Suzuki, Axis Bank, Tata Steel and HDFC rose between 1% and 2%.

The NSE index, Nifty50, has had a record-setting run in the last two months, while the BSE has been Asia’s top performing index this year.

The new highs come as companies in India, the fastest growing major economy in the world, reported a 11.6% annual increase in profits for the June 2018 quarter, the strongest growth in five quarters.indiagate

Author: Stephen Manallack

Former President, Australia India Business Council, Victoria and Author, You Can Communicate; Riding the Elephant; Soft Skills for a Flat World (published by Tata McGraw-Hill INDIA); Communicating Your Personal Brand. Director, EastWest Academy Pty Ltd and Trainer/Speaker/Mentor in Leadership, Communication and Cross Cultural Communication. Passionate campaigner for closer western relations with India. Stephen Manallack is a specialist on “Doing Business with India” and advisor/trainer on “Cross-Cultural Understanding”. He is a Director of EastWest Academy Pty Ltd which provides strategic advice and counsel regarding business relations with India. A regular speaker in India on leadership and global communication, his most recent speaking tour included a speech to students of the elite Indian university, Amity University, in Noida. He also spoke at a major Federation of Indian Chambers of Commerce and Industry (FICCI) global summit, the PR Consultants Association of India in Delhi, the Symbiosis University in Pune and Cross-Cultural Training for Sundaram Business Services in Chennai. He has visited India on business missions on 10 occasions and led three major trade missions there. He provides cross-cultural training – Asia and the west.

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