Friday, 19 October, 2018

Markets end year with 28 pc gains

BSE Sensex and NSE Nifty open higher on Thursday BSE Sensex and NSE Nifty open higher on Thursday
Scott Davis | 31 December, 2017, 06:42

It has been an upbeat year for the markets.

On Friday, Nifty50 closed 53 points up at 10,531, while BSE Sensex settled 209 points up at 34,057. It had gained 508.92 points, or 1.94%, last year. Sensex rose by 7,430.37 points in 2017, which is 27.91 points.

"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".

The BSE 30-share Sensex closed at 33,911.81, down 98.80 points, or 0.29 percent, after touching a new all-time intra-day high.

Reports said that oil, gas, metal and energy didn't perform well- but IT, FMCG, Power, auto, capital goods and healthcare were up as they rose up to 1.63 per cent. Tata Motors, Axis Bank, TCS, Hero MotoCorp, Adani Ports, Wipro, Asian Paints, Maruti and HDFC gained majorly.




The Nifty has risen 2344.90 points, or 28.65 per cent, during the year.

It surpassed its previous closing high of 34,010.61 reached on December 26.

Shares of Reliance Communications continued their rally for the fourth straight session today, ending 17% higher after Mukesh Ambani stepped in to bail out the debt- ridden firm by acquiring spectrum, tower, optical fibre network and other assets. In four days, shares of the company have zoomed 122 per cent adding Rs5,506.76 crore to its market capitalisation.

Nifty IT and Nifty Auto indices climbed 1.47 and 1.28 per cent, respectively. Reliance Industries Ltd rose 0.6% to Rs930.

Trading was thin across global markets on the last session of the year. The CAC 40 of France slipped 0.55%, DAX of Germany lost 0.69%, while FTSE 100 of the United Kingdom closed above the neutral line.

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