Published: Sun, December 10, 2017
Sci-tech | By Jackie Newman

Sensex surges 246 points, Nifty above 10200

Sensex surges 246 points, Nifty above 10200

Mumbai: Unabated buying by domestic institutions propelled the benchmark Sensex beyond the 33,000-mark on Friday, with FMCG stocks securing a podium finish.

Sentiment bolstered after opinion polls gave an edge to the ruling BJP in crucial Gujarat elections, with investors vouching on current government fast phased economic reforms with political stability is vital for positivity in markets.

The NSE Nifty too rose 60.65 points, or 0.59%, at 10,227.35 in early trade Friday. On a closing basis, the BSE Sensex surged 0.91 per cent to 33,250.30 points.The BSE market breadth was bullish - 1,584 advances and 1,116 declines. Participants sensed value-buying opportunities after the equities' recent lacklustre run, making stock valuations attractive, according to market participants.

Domestic institutional investors (DIIs) were net buyers as they bought shares worth Rs 926.68 crore on Thursday while foreign portfolio investors (FPIs) offloaded equities amounting to Rs 1,075.62 crore, provisional data showed. The BSE FMCG index topped with a robust 2.23 per cent rise, followed by metal 1.36 per cent, healthcare 1.35 per cent, consumer durables 1.15 per cent, oil & gas 1.02 per cent, auto 0.97 per cent, bankex 0.92 per cent and realty 0.72 per cent.

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Asian markets were trading higher following a broad-based rally in United States equities.

In the Sensex pack, with Sun Pharmaceutical, Tata Motors, Bharti Airtel, Hindustan Unilever and ITC all gaining more than 2% each. In contrast, Hero MotoCorp, SBI, Reliance Industries, TCS, Asian Paint and Dr. Reddy's succumbed to profit-booking. All the sectoral indices also ended in the green.

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.

Gold prices drifted lower by 0.27 percent to Rs 28,589 per 10 grams in futures trade today as participants cut their bets amid a weak global trend.

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