Hi-Tech

Sensex ends 2017 on a fresh lifetime high; Nifty above 10500

Sensex ends 2017 on a fresh lifetime high; Nifty above 10500

The Sensex and Nifty were trading flat as investors remained wary ahead of December F&O expiry later today. At 12:27 IST, the barometer index, the S&P BSE Sensex, was down 11.82 points or 0.03% at 33,899.99.

The government has decided to make an additional borrowing of Rs 50,000 crore this fiscal through dated securities, a move that may risk the target of fiscal deficit breaching 3.2 per cent of GDP.

But the finance ministry maintained that there will be no change in net borrowing as envisaged in the Budget for 201718, which soothed the frayed nerves a bit. The broad-based NSE Nifty too was up 30.30 points, or 0.28 per cent, at 10,508.20. The bank had said its central board has given its nod to raise additional tier 1 capital through issue of debt instrument in dollars and/or in rupees to the tune of Rs.8000 crore from domestic and worldwide market. "Expectation of a pick up in third quarter earnings and strengthening of rupee supported the sentiment", said Vinod Nair, Head of Research, Geojit Financial Services.

At the start, the 50-share Nifty climbed to 10,515.90, up 25.15 points, or 0.23 per cent.

Trading was thin across global markets on the last session of the year. The shares of M&M, PowerGrid, Sun Pharma rose, whereas the shares of Hero MotoCorp and Adani Ports fell.

Domestic institutional investors (DIIs) sold equities worth a net Rs 206.68 crore while foreign portfolio investors (FPIs) bought shares worth a net Rs 172.32 crore yesterday, as per provisional data.




USA stocks had eked out a slight gain on Wednesday, as advances in some major technology stocks offset losses in energy and helped keep major indexes just above the unchanged mark. Mining stocks soared with uptick in metal prices. All the sectoral indices led by power, capital goods, infrastructure and healthcare were up, rising by up to 1.01 per cent.

"Markets corrected on Wednesday after two sessions of positive closings".

European markets were down in early trade with Paris CAC 40 falling 0.11%, while Frankfurt's DAX shed 0.29%.

-Jayant Manglik, President, Retail Distribution, Religare Securities Midcap stocks such as Reliance Communications, R Power, GMR Infra surged over 10 per cent each while smallcaps such as JP Power (up 19.90 per cent), FCL (up 19.39 per cent) and Castex Technologies (up 18.37 per cent) led gains on BSE Smallcap index.

Realty, metal and IT managed to close in the green.


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