Nifty reclaims 10500, Sensex up 40 points in opening trade

31 December, 2017, 04:20 | Author: Inez Murphy

The Sensex rose 0.62 percent to end the year at 34,056.83, while the Nifty ended 0.5 percent higher at 10,530.70.

Stocks of power, auto, information and technology sectors saw robust buying- also, futures buying also added momentum.

It has been an upbeat year for the markets.

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

While the implementation of the GST caused short-term disruptions, investors feel the government will stay firm on its reforms agenda, backed by the BJP's strong showing in Gujarat and Himachal Pradesh assembly elections, brokers said. It had gained 508.92 points, or 1.94%, last year.

The Nifty too rallied 2,344.90 points, or 28.65 percent, in 2017.

Back home, markets began the day on a flat note and traded in a narrow band for the first half of the trading session.

At the close, the benchmark 30-share index, BSE Sensex declined 98.80 or 0.29% at 33,911.81 with 23 components posting drop. It surpassed its previous closing high of 34,010.61 reached December 26. Meanwhile, the broad based NSE Nifty fell by 40.75 or 0.39% at 10,490.75 with 42 components registering drop.

The calendar year 2017 has been a historical one for our markets as the Nifty index has registered gains of about 28% and touched the magical mark of 10,500, while the BSE Sensex has surged about 27% and touched the landmark of 34,000.

Indian shares closed higher for the fourth straight session on Tuesday, led by.

In four days, shares of the company have zoomed 122 percent adding Rs 5,506.76 crore to its market capitalisation.

Infratel (+2.4%), Asian Paints (+2%), TCS (+1.7%), Tata Motors (+1.6%) and Axis Bank (+1.5%) were the top gainers on Nifty50.

Nifty IT and Nifty Auto indices climbed 1.47 and 1.28 per cent, respectively.

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