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Sensex ends above 35000 for first time ever; Nifty at new closing high

All that happened in the market today

SI Reporter  |  New Delhi 

Nifty, Sensex, BSE, NSE, markets
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Market rundown by Vinod Nair, Head of Research, Geojit Financial Services    "After an anguished start market turned pace to new highs as improvement in sentiment due to government’s reassessment to cut down additional borrowings for the current fiscal raised its fiscal prudence. Additionally, outperformance of PSU banks on account of underlying growth story and value buying in pharma & IT stocks gave traction to the market." Nifty Bank ends at record high PSU banks gain: Nifty PSU Bank index up 4% Nifty IT extends gains as rupee weakness continues Sectoral Trend Sensex top gainers and losers

Benchmark indices ended at fresh closing highs on Wednesday, as IT stocks such as Infosys and private lenders such as ICICI Bank rallied amid broader value buying in the market.

Investors cheered after the government said it will reduce its additional borrowing to Rs 200 billion from the bond in the financial year 2017-18, from Rs 500 billion announced last month. This is primarily because the Reserve Bank of India will pay a higher-than-anticipated surplus to the Centre, and the dividend target from state-owned companies will also be met, senior government sources confirmed separately to Business Standard.

Sentiment remains buoyant as investors expect corporate results to improve, especially since numbers during the same period last year were impacted by a ban on high-value currency notes.

Bach home, A fortnight ahead of the Union Budget, the Goods and Services Tax (GST) Council is likely to take up rationalisation of rates of about 70 items, of which at least 40 are services. Amendment in rules may also be taken up to simplify filing and plug some of the loopholes. A fitment committee of officers has made these recommendations to the Council, which will meet on Thursday.

First Published: Wed, January 17 2018. 15:31 IST
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Sensex ends above 35000 for first time ever; Nifty at new closing high

All that happened in the market today

All that happened in the market today
Benchmark indices ended at fresh closing highs on Wednesday, as IT stocks such as Infosys and private lenders such as ICICI Bank rallied amid broader value buying in the market.

Investors cheered after the government said it will reduce its additional borrowing to Rs 200 billion from the bond in the financial year 2017-18, from Rs 500 billion announced last month. This is primarily because the Reserve Bank of India will pay a higher-than-anticipated surplus to the Centre, and the dividend target from state-owned companies will also be met, senior government sources confirmed separately to Business Standard.

Sentiment remains buoyant as investors expect corporate results to improve, especially since numbers during the same period last year were impacted by a ban on high-value currency notes.

Bach home, A fortnight ahead of the Union Budget, the Goods and Services Tax (GST) Council is likely to take up rationalisation of rates of about 70 items, of which at least 40 are services. Amendment in rules may also be taken up to simplify filing and plug some of the loopholes. A fitment committee of officers has made these recommendations to the Council, which will meet on Thursday.
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Business Standard
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Sensex ends above 35000 for first time ever; Nifty at new closing high

All that happened in the market today

Benchmark indices ended at fresh closing highs on Wednesday, as IT stocks such as Infosys and private lenders such as ICICI Bank rallied amid broader value buying in the market.

Investors cheered after the government said it will reduce its additional borrowing to Rs 200 billion from the bond in the financial year 2017-18, from Rs 500 billion announced last month. This is primarily because the Reserve Bank of India will pay a higher-than-anticipated surplus to the Centre, and the dividend target from state-owned companies will also be met, senior government sources confirmed separately to Business Standard.

Sentiment remains buoyant as investors expect corporate results to improve, especially since numbers during the same period last year were impacted by a ban on high-value currency notes.

Bach home, A fortnight ahead of the Union Budget, the Goods and Services Tax (GST) Council is likely to take up rationalisation of rates of about 70 items, of which at least 40 are services. Amendment in rules may also be taken up to simplify filing and plug some of the loopholes. A fitment committee of officers has made these recommendations to the Council, which will meet on Thursday.

image
Business Standard
177 22