Published: Fri, December 08, 2017
Health | By Jay Jacobs

Sensex surges 352 points on all-round buying

Sensex surges 352 points on all-round buying

The barometer 30-scrip Sensitive Index (Sensex) of the BSE provisionally closed gaining over 300 points, while the wider Nifty50 of the National Stock Exchange (NSE) closed firmly above the 10,100 level.

All the BSE sectoral indices except Energy were trading higher led by metal, consumer durables, auto, banks and FMCG.

The BSE Sensex closed at 32,949.21 points - up 352.03 points or 1.08 per cent - from its previous close.

However, value-buying in several heavyweights towards the fag-end trimmed the losses, with the index finishing at 32,802.44, down 67.28 points or 0.20%. Also, the central bank raised the inflation forecast for the remainder of the current fiscal to 4.3-4.7 per cent. Laggards included Infratel (-1.35%), Tech Mahindra (-0.51%), NTPC (-0.50%), HPCL (-0.44%), Ambuja Cements (-0.39%). The top losers included Asian Paints and Reliance Industries.

Overseas, the Asian markets saw the shares of most of the companies decline, since investors across the globe have an eye on the final tax legislation in the United States, where policy uncertainty kept sentiment in check.

Meanwhile, foreign portfolio investors offloaded shares worth net Rs 333.59 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 776.18 crore on Tuesday, as per provisional data.

PSU Bank Nifty rose 1.25 per cent led by lenders such as Bank of India, Oriental Bank, Syndicate Bank and SBI on expectations that the government would soon reveal details of a recapitalisation plan.

The markets opened the Thursday's session on a positive note with key benchmark indices extending intra-day gains. The stock ended down 2.05 per cent or Rs 4.30 at Rs 205.45. It has slipped 4.7 percent from a 10-year peak hit on November 23 as investors booked profits after robust gains this year.

Overnight on Wall Street, the Dow rose 0.29 per cent, the S&P 500 gained 0.29 per cent and the Nasdaq 0.54 per cent.

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