Published: Sun, March 19, 2017
Sport | By Billy Aguilar

Sensex, Nifty Seen Higher As GST Council Clears All Draft Bills

Sensex, Nifty Seen Higher As GST Council Clears All Draft Bills

Mumbai: The National Stock Exchange's benchmark index Nifty opened deals with a new all-time high of 9,200 level.

On Thursday, Nifty touched 9,158.45 points to break even that record.

A spectacular rally in domestic equities which helped the 50-share broder Nifty to close at all-time high levels lending further support to rally.

Fresh buying was seen in metal, infra, PSU Bank, realty and IT counters on the back of strong foreign capital inflows and higher global cues.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,755.74 points, provisionally closed at 29,648.99 points (at 3.30 p.m.) - up 63.14 points or 0.21 per cent from the previous close at 29,585.85 points.

Advances outnumbered declines almost 3:1 on the NSE with 1,153 securities out of a total of 1,741 advancing, 490 declining and 98 remaining unchanged.

The holiday-truncated eventful week saw the traders eagerly awaiting poll-outcome in five-states, while BJP's landslide victory in UP and impressive show in rest other states generated direct bearing on country's financial markets including rupee appreciating to multi-month highs as well as shares performing to the optimal.

In weekly terms, the Sensex rallied 702.76 points, or 2.42 per cent, and the Nifty 225.50 points, or 2.52 per cent, adding to the gains for the second straight week.

Asian investors were relieved as they had feared faster United States hikes, whilemore political upheaval in Europe could spook funds out of the emerging markets. Both these indices outperformed the Sensex. "European indices like FTSE 100, CAC 40 and DAX too traded higher".

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 8,684.23 crore during the week, as per Sebi's record including the provisional figure of March 17.

"FMCG, cement, aviation and power sector stocks also traded in the positive territory tracking over all buying sentiments in the Indian equity markets".

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