Stock Market LIVE: Nifty hits 11,500 for first time, Sensex at record high, Infosys shares dive 4%

Benchmark indices BSE Sensex and NSE’s Nifty 50 surged to new record higher on Monday following positive cues from global markets, with the Nifty hitting 11,500 for the first time. Asian share markets crept cautiously higher on Monday as investors awaited developments on proposed Sino-U.S. trade talks and the Chinese yuan rallied away from dangerous lows. The Indian rupee along with Asian currencies strengthened against the US dollar over-optimism that trade tensions between US and China will ease after planned talks due this week. Moreover, FIIs purchased shares worth Rs 147.31 crore on the net basis on Friday and DIIs bought Rs 151.89 crore of shares, provisional data showed.Shares of Infosys Ltd fell as much as 4.03% to Rs 1,373.55 after its CFO M.D. Ranganath has abruptly stepped down from his position, marking the second CFO departure at Infosys in three years. In a statement to stock exchanges, Infosys did not give a reason for Ranganath’s departure but said the company’s board had accepted his resignation and Ranganath would continue in his current role till 16 November 2018.
Source-  https://www.livemint.com/