Sensex rises 208 points to 34,056 level, Nifty at 10,530; Tata Motors, Axis Bank, TCS top gainers
While the Sensex closed 208 points higher at 34,058 level, the Nifty rose 52 points to 10,530 tracking higher Asian market. The Sensex gained 28 percent or 7,430 points this year. The Nifty rose 28.62% or 2342 points since the beginning of this year.
- Dec 29, 2017,
- Updated Dec 29, 2017 4:38 PM IST
The Sensex and Nifty ended 2017 on a high note post increased buying by participants after the start of January series in the Futures and Options (F&O) segment. The indices logged biggest yearly gains in three years as strong foreign fund inflows, hopes of an improving economy and higher corporate earnings boosted investor confidence.
While the Sensex closed 208 points higher at 34,058 level, the Nifty rose 52 points to 10,530 tracking higher Asian market. The Sensex gained 28 percent or 7,430 points this year. The Nifty rose 28.62% or 2342 points since the beginning of this year.
Analysts have predicted record rise for the Sensex and Nifty next year after BJP swept Gujarat and Himachal Pradesh polls this year.
"Ever since Gujarat elections, expectations are rising that the upcoming Budget would be rural focused and that is supporting the market sentiment in the near term. Though crude's spike towards $70 could be a risk," said Hitesh Agrawal, EVP & Head - Retail Research, Religare Securities Ltd.
The Aarti Industries stock rose nearly 7 percent on BSE after the firm said it has signed Rs 10,000 crore multi-year exclusive supply contract with a global chemical conglomerate.
"This contract entails supply of a high value speciality chemical intermediate over a period of 20 years," leading producer of Benzene-based basic and intermediate chemicals said. It closed 6.48% or 69.25 points higher on BSE.
The Infibeam Incorporation stock turned volatile and tumbled nearly 40 percent in 30 minutes of early trade on the back of heavy volumes traded on the counter. It recovered later and closed nearly 14% or 23 points lower on BSE.
The RCom stock rose up to 35% or 41.77 level a day after Reliance Industries announced signing of 'definitive agreement' for the acquisition of specified assets of Reliance Communications and its affiliates. The Stock closed 17 percent or 5.26 points higher on the BSE.
Tata Motors (3.06%), Axis Bank (2.74%) and TCS (2.72%) were the top Sensex gainers.
Market breadth was positive with 1569 stocks closing higher against 1203 ending lower on the BSE.
The Sensex and Nifty ended 2017 on a high note post increased buying by participants after the start of January series in the Futures and Options (F&O) segment. The indices logged biggest yearly gains in three years as strong foreign fund inflows, hopes of an improving economy and higher corporate earnings boosted investor confidence.
While the Sensex closed 208 points higher at 34,058 level, the Nifty rose 52 points to 10,530 tracking higher Asian market. The Sensex gained 28 percent or 7,430 points this year. The Nifty rose 28.62% or 2342 points since the beginning of this year.
Analysts have predicted record rise for the Sensex and Nifty next year after BJP swept Gujarat and Himachal Pradesh polls this year.
"Ever since Gujarat elections, expectations are rising that the upcoming Budget would be rural focused and that is supporting the market sentiment in the near term. Though crude's spike towards $70 could be a risk," said Hitesh Agrawal, EVP & Head - Retail Research, Religare Securities Ltd.
The Aarti Industries stock rose nearly 7 percent on BSE after the firm said it has signed Rs 10,000 crore multi-year exclusive supply contract with a global chemical conglomerate.
"This contract entails supply of a high value speciality chemical intermediate over a period of 20 years," leading producer of Benzene-based basic and intermediate chemicals said. It closed 6.48% or 69.25 points higher on BSE.
The Infibeam Incorporation stock turned volatile and tumbled nearly 40 percent in 30 minutes of early trade on the back of heavy volumes traded on the counter. It recovered later and closed nearly 14% or 23 points lower on BSE.
The RCom stock rose up to 35% or 41.77 level a day after Reliance Industries announced signing of 'definitive agreement' for the acquisition of specified assets of Reliance Communications and its affiliates. The Stock closed 17 percent or 5.26 points higher on the BSE.
Tata Motors (3.06%), Axis Bank (2.74%) and TCS (2.72%) were the top Sensex gainers.
Market breadth was positive with 1569 stocks closing higher against 1203 ending lower on the BSE.