Markets rally on value-buying, Sensex surges 352 points

Kelly Massey
Декабря 8, 2017

It finally ended at 32,949.21, up 352.03 points, or 1.08 per cent - its biggest single-day gain since November 1, when it had surged 387.14 points. At about 9.40 am, the Sensex jumped 150 points or 0.46 per cent at 32,746.90 while the NSE Nifty gained 49.05 points or 0.49 per cent to 10,093.15.

PSU Bank stocks too recovered from the previous session's losses, and Nifty PSU bank index ended 1.25 per cent higher at 3,798.55.

The 30-share Sensex stayed in the green throughout and hit the day's high of 32,992.45 following all-round buying. Positive opening in European shares boosted investors' sentiment in the domestic market.

"RBI's neutral stance despite firm inflation expectations, and recent falls rendering stocks attractive, whetted the appetite of buyers", said Anand James, chief market strategist, Geojit Financial Services. Most capital goods shares rose.

Out of 1,989 stocks traded on the NSE, 1,219 advanced, 474 declined and 296 remained unchanged today.

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Aurobindo Pharma, Bajaj Auto, Tata Steel, Infratel, Maruti Suzuki, Asian Paints, UPL and Tech Mahindra climbed 3-5 percent.

On the other hand, Reliance Industries (0.19%), and Coal India (0.17%) were the major losers in the Sensex.

In the broader markets, the S&P BSE mid-cap index closed higher by 1.38 per cent and the small-cap index by 1.29 per cent.

Shanghai Composite Index too fell 0.61 per cent in early trade today. Among the Asian bourses, Hong Kong's Hang Seng was down 1.12 per cent while Japan's Nikkei shed 0.90 per cent.

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