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Published: Mon, December 11, 2017
Global Media | By Abel Hampton

Sensex surges 246 points, Nifty above 10200

Sensex surges 246 points, Nifty above 10200

Reserve Bank of India (RBI)'s move on monetary policy steered the trajectory of Indian market on Wednesday, with equities suffering for the second straight session. The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said. Weak sentiment hovered over realty and automobile counters too.

The 30-stock Sensex surged 301 points, or 0.9 per cent, to close at 33250.30, taking the week's gains to 1.3 per cent.

On the other hand, Coal India (0.49%), and Dr Reddy'S Laboratories (0.09%) were the major losers in the Sensex. The Rupee opened at 64.55 a dollar on Friday.

Vinod Nair, Head of Research, Geojit Financial Services, said: "Investor's sentiment has lifted amid favorable political cue for the ruling party in Gujarat ahead of state election".

Sun Pharma emerged as the worst performer among Sensex constituents by falling 2.31%, while Bajaj Auto declined 1.65%.

Tata Motors (+1.7%), Vedanta (+1.6%), Maruti (+1.4%), IndusInd Bank (+1.36%) and UPL (+1.3%) were the top gainers on Nifty50.

The broader market depicted a mixed trend, with the BSE mid-cap ending up 0.41 per cent, while small-cap index finished 0.03 per cent down. Nifty and Sensex have outperformed most Asian markets for the week.

Domestic institutional investors were net buyers as they bought shares worth Rs926.68 crore on Thursday, while foreign portfolio investors offloaded equities amounting to Rs1,075.62 crore, provisional data showed.

In the Asian region, Japan's Nikkei rose 1.39%, Hong Kong's Hang Seng gained 1.19%, while Shanghai Composite Index gained 0.55%. London's FTSE too fell 0.16%.

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