Monday, 22 October, 2018

Nifty reclaims 10500, Sensex up 40 points in opening trade

BSE Sensex and NSE Nifty open higher on Thursday BSE Sensex and NSE Nifty open higher on Thursday
Cristina Norman | 31 December, 2017, 06:42

On Friday, Nifty50 closed 53 points up at 10,531, while BSE Sensex settled 209 points up at 34,057.

The Sensex clocked its best performance in recent years, rising by 7,430.37, or 27.91 per cent in 2017.

The 10-year government bond (6.79% 2027) yield fell sharply by 1.58 percent or 11 basis points to 7.279 percent, from previous close. "Expectation of a pick up in third quarter earnings and strengthening of rupee supported the sentiment", said Vinod Nair, Head of Research, Geojit Financial Services. The broader indices outperformed the benchmark indices and ended in the positive territory.

The BSE 30-share Sensex closed at 33,911.81, down 98.80 points, or 0.29 percent, after touching a new all-time intra-day high. Reliance Industries, up 0.8 per cent, and Idea Cellular Ltd, up more than 3.5 per cent, extended gains for a second straight session.

The Nifty has risen 2344.90 points, or 28.65 per cent, during the year. Both indices rose for the fourth straight week.

Infratel (+2.4%), Asian Paints (+2%), TCS (+1.7%), Tata Motors (+1.6%) and Axis Bank (+1.5%) were the top gainers on Nifty50. Japan's Nikkei 225 has edged up 58 points, Hong Kong's Hang Seng has gained 54 points and China's Shanghai Composite has added 5 points.

Sector-wise, the rally was driven by telecom (up 1.63%), power (1.46%), teck (1.24%), IT (1.20%), auto (1.16%), FMCG (0.85%), consumer durables (0.85%), infrastructure (0.83%), capital goods (0.51%), realty (0.46%), bankex (0.36%) and healthcare (0.18%).

"The concluding session of the year traded with a positive bias and eventually wrapped up the activity nearly at record close".

The BSE Midcap and BSE Smallcap indices were up 0.41% and 0.62%, respectively. European markets were down in early trade with Paris CAC 40 falling 0.11 per cent, while Frankfurt's DAX shed 0.29 per cent. London's FTSE rose 0.27 per cent.

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