Published: Sat, January 06, 2018
Tech | By Dwayne Harmon

Markets off from all-time highs but Sensex, Nifty still going strong

Markets off from all-time highs but Sensex, Nifty still going strong

The BSE Sensex surged over 184 points to close at its lifetime high of 34,153.85, while the broader NSE Nifty ended at record 10,558.85.

The Nifty50 index was trading 46 points up at 10,551, while 30-shares Sensex was 173 points up at 34,143 around 10.35 am (IST).

On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) rose by 54.05 points or 0.51 per cent to a new high of 10,558.85 points, after it touched a fresh intra-day high level of 10,566.10 points.

The broader markets too remained in bullish mode, with the BSE small-cap index rising 0.97 per cent.

However, auto and realty fell 0.20 per cent and 0.19 per cent, respectively.

Major Sensex gainers on Friday were: Yes Bank, up 5.03 per cent at Rs 333.05; Adani Ports, up 3.71 per cent at Rs 424.45; Bharti Airtel, up 3.36 per cent at Rs 540; IndusInd Bank, up 3.17 per cent at Rs 1,698.50; and Dr Reddy's Lab, up 2.40 per cent at Rs 2,467.35.

All the sectoral indices led by metal, consumer durables and bank, trading in the positive zone with gains of up to 1.41 per cent.

The finance ministry today sought Parliament's nod for extra expenditure of Rs 80,000 crore towards recapitalisation of bad loans-saddled public sector banks through bonds.

Provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 581.43 crore and domestic institutional investors worth Rs 243.13 crore. The Nifty PSU Bank index climbed as much as 1.1 per cent after Thursday's 2.7 per cent rise.

Idea Cellular rose over 6 per cent, top gainer on BSE, after the telco unveiled a plan to raise Rs 6,750 crore ahead of its merger with Vodafone's local unit.

The dollar's gains against major world currencies after a strong United States manufacturing data also impacted the rupee sentiment, a currency dealer said.

The BSE benchmark Sensex opened higher at 33,912.49 and hovered in a range of 33,995.40 to 33,802.13 before finishing at 33,969.64, showing a gain of 176.26 points or 0.52 per cent.

Overseas, Asian bourses displayed a strong trend, with Japan's Nikkei rising 0.89 per cent, Shanghai Composite gaining 0.18 per cent while Hong Kong's Hang Seng rose 0.25 per cent.

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