Sensex ends 216 points higher; Nifty settles at 10333-level

Tammy Harvey
December 16, 2017

All sectoral indices, including realty, consumer durables, oil and gas and metal stocks traded positive, with gains of up to 0.85 per cent.

At 11 AM: Sensex was up by over 272 points or 0.82% to 33,519.32 while the wider nifty was up by over 90 points to 10,342.65.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

Stocks rode on the rupee too, which hit a three-month high against the dollar during the day.

"Exit polls predictions stating absolute majority for the ruling party in Gujarat and Himachal elections pushed stocks and indices to a higher opening, but the rally stalled thereafter as investors opted to wait for the results next week". BSE small-cap and mid-cap indices surged 1.38 per cent and 1 per cent, respectively. "The markets opened on a strong note in the morning session and then traded in a range for the rest of the day", Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

Mood turned bullish as provisional data showed that foreign funds made purchases of shares worth a net Rs 232.17 crore on Thursday.

"Some selling was seen towards the close on the back of weakness in the global equity markets", he added. "The metal sector gained its sheen after the recent correction while bank nifty and auto outperformed the main index as investors used the advantage of bargaining opportunity".

On BSE, the shares closed at ₹239.25 - 3.53% lower than its issue price.

On the other hand, Cipla (2.53%), Oil & Natural Gas Corporation (0.87%), Asian Paints (0.54%), Tata Consultancy Services (0.42%), State Bank Of India (0.41%), and Bharti Airtel (0.38%) were the biggest losers in the Sensex.

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