Sensex zooms 301 points to close at 33250; Nifty finishes at 10265

Sensex zooms 301 points to close at 33250; Nifty finishes at 10265

Kenneth Drake
December 10, 2017

The week started with stocks specifics minor gains while caution loomed due to two-day RBI monetary policy review meet along with fresh macro concerns like Services activity slippage and cut in Fitch ratings impacting the trading momentum.

The 30-share Sensex began the day on a strong note at 32615.05 and built on its gains.

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%.

The NSE Nifty too rose 60.65 points, or 0.59%, at 10,227.35 in early trade Friday.

"The recent correction in PSU banks provides an opportunity for investors to accumulate as the long term prospects remains strong owing to healthy recapitalisation".

The broader market, midcap shares outsmarted the smallcap stocks with substantial gains.

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Domestic institutional investors were net buyers as they bought shares worth Rs926.68 crore on Thursday, while foreign portfolio investors offloaded equities amounting to Rs1,075.62 crore, provisional data showed. The BSE FMCG index topped with a robust 2.23% rise, followed by metal 1.36%, healthcare 1.35%, consumer durables 1.15%, oil & gas 1.02%, auto 0.97%, bankex 0.92% and realty 0.72%.

Other losers included Tata Steel, NTPC, Dr Reddy's, ONGC, Power Grid, Bajaj Auto, L&T, M&M, Asian Paints, HDFC Bank, HUL, Lupin, Coal India, ITC, Tata Motors, Axis Bank, Maruti Suzuki and Infosys, falling by up to 1.71 per cent.

Bharti Airtel jumped 8.02 percent.

In the Asian region, Japan's Nikkei rose 1.39%, Hong Kong's Hang Seng gained 1.19%, while Shanghai Composite Index gained 0.55%. The S&P BSE Small-Cap index gained 194.40 points or 1.08 percent to settle at 18,211.88.

European markets too saw a weak trend.

In the Eurozone, key indices such as Paris CAC 40 and Frankfurt's DAX Performance Index were up by 0.32% and 0.55% in their early deals.