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Sensex rallies 245 points, Nifty ends over 8270; Metals lead

Broader market also rose with BSE Midcap and BSE Smallcap gaining 1.29% and 0.96% respectively

Pranati Deva  |  New Delhi 

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Benchmark indices settled the day higher tracking global cues on upbeat economic data and rise in prices as investors were optimistic ahead of corporate earnings and Union Budget 2017.
 
hit its highest in nearly two months during the day, while the broader NSE hit a near one-month high led by gains in metal, & gas, banking and auto sectors.


 
The S&P BSE settled the day at 26,878, up 245 points, while the broader Nifty50 ended 83 points higher at 8,274.
 
Broader also rose with BSE and BSE gaining 1.32% and 0.98% respectively.

"Positive global following FOMC minutes’ release ensured the Indian added to recent gains. But with EC blowing the election bugle, were sceptic if could result in Budget dates being postponed, and give away the economic advantage for FY18, that was intended from an early budget announcement this year," said Anand James, Chief Strategist, Geojit BNP Paribas Financial Services in a note.

breadth remained positive with 1,939 advances against 889 declines.
 
Sectors and Stocks
 
Adani Ports, Tata Steel, Tata Motors, Bharti Airtel and are top gainers while and NTPC are the biggest laggards in the Only four stocks ended in red on
 
On NSE, all except index were trading in positive. A bill backing key changes in the H1-B programme that allows skilled workers from countries like India to fill high-tech jobs in the US has been reintroduced in the US Congress by two lawmakers who claim that will help crack down on the work visa abuse was the primary reason for the shares falling in today’s trade.
 
Shares of refinery companies continued their upward move with the S&P BSE & Gas index hitting nine year high on the BSE in intra-day trade on Thursday. The index closed 1.78% higher.
 
The & gas index hit an intra-day high of 12,601, its highest level since January 18, 2008. hit a new high of Rs 354, up 3%, while India touched a fresh 52-week high of Rs 469, up 3% on the BSE. ONGC, HPCL, IOC, and from the index were up in the range of 2% to 3%.
 
ended over 3% to Rs 501.80 on the BSE after Jaguar Land Rover (JLR) reported a strong 30% jump in US sales at 12,573 units in December 2016 against 9,638 units a year earlier.
 
BSE metal index rose around 3% in today’s trade out performing all the other sectoral indices. JSW Steel is the biggest gainer in the sector followed by JSPL, Vedanta and Hind Zinc. All ten index stocks ended in green in the index.
 
Global Markets
 
Asian stocks climbed for an eighth consecutive day on Thursday, buoyed by further gains on Wall Street and an overnight bounce in prices that bolstered energy and resource shares.
 
Also underpinning the cautious streak of optimism has been a steady stream of upbeat factory and service sector surveys out of the U.S., Europe and Asia this week, prompting some banks to raise their global growth forecasts for 2017.
 
in Europe open lower after minutes from the last US Federal meeting showed willingness to increase rates at a faster pace. The pan-European Stoxx 600 opened 0.39 points lower with most sectors trading in negative territory while Britain's FTSE 100 index held near record highs.
 
MSCI's broadest index of Asia-Pacific stocks outside Japan rose more than 1%, extending a rally that has seen gain 2% in the opening days of 2017.
 
India and Hong Kong led gains, while Japan's Nikkei slipped 0.3% as the yen edged up on the dollar. Philippine shares rose to their highest levels in nearly two months and Singapore shares rose 1.3%.

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Sensex rallies 245 points, Nifty ends over 8270; Metals lead

Broader market also rose with BSE Midcap and BSE Smallcap gaining 1.29% and 0.96% respectively

Broader market also rose with BSE Midcap and BSE Smallcap gaining 1.29% and 0.96% respectively Benchmark indices settled the day higher tracking global cues on upbeat economic data and rise in prices as investors were optimistic ahead of corporate earnings and Union Budget 2017.
 
hit its highest in nearly two months during the day, while the broader NSE hit a near one-month high led by gains in metal, & gas, banking and auto sectors.
 
The S&P BSE settled the day at 26,878, up 245 points, while the broader Nifty50 ended 83 points higher at 8,274.
 
Broader also rose with BSE and BSE gaining 1.32% and 0.98% respectively.

"Positive global following FOMC minutes’ release ensured the Indian added to recent gains. But with EC blowing the election bugle, were sceptic if could result in Budget dates being postponed, and give away the economic advantage for FY18, that was intended from an early budget announcement this year," said Anand James, Chief Strategist, Geojit BNP Paribas Financial Services in a note.

breadth remained positive with 1,939 advances against 889 declines.
 
Sectors and Stocks
 
Adani Ports, Tata Steel, Tata Motors, Bharti Airtel and are top gainers while and NTPC are the biggest laggards in the Only four stocks ended in red on
 
On NSE, all except index were trading in positive. A bill backing key changes in the H1-B programme that allows skilled workers from countries like India to fill high-tech jobs in the US has been reintroduced in the US Congress by two lawmakers who claim that will help crack down on the work visa abuse was the primary reason for the shares falling in today’s trade.
 
Shares of refinery companies continued their upward move with the S&P BSE & Gas index hitting nine year high on the BSE in intra-day trade on Thursday. The index closed 1.78% higher.
 
The & gas index hit an intra-day high of 12,601, its highest level since January 18, 2008. hit a new high of Rs 354, up 3%, while India touched a fresh 52-week high of Rs 469, up 3% on the BSE. ONGC, HPCL, IOC, and from the index were up in the range of 2% to 3%.
 
ended over 3% to Rs 501.80 on the BSE after Jaguar Land Rover (JLR) reported a strong 30% jump in US sales at 12,573 units in December 2016 against 9,638 units a year earlier.
 
BSE metal index rose around 3% in today’s trade out performing all the other sectoral indices. JSW Steel is the biggest gainer in the sector followed by JSPL, Vedanta and Hind Zinc. All ten index stocks ended in green in the index.
 
Global Markets
 
Asian stocks climbed for an eighth consecutive day on Thursday, buoyed by further gains on Wall Street and an overnight bounce in prices that bolstered energy and resource shares.
 
Also underpinning the cautious streak of optimism has been a steady stream of upbeat factory and service sector surveys out of the U.S., Europe and Asia this week, prompting some banks to raise their global growth forecasts for 2017.
 
in Europe open lower after minutes from the last US Federal meeting showed willingness to increase rates at a faster pace. The pan-European Stoxx 600 opened 0.39 points lower with most sectors trading in negative territory while Britain's FTSE 100 index held near record highs.
 
MSCI's broadest index of Asia-Pacific stocks outside Japan rose more than 1%, extending a rally that has seen gain 2% in the opening days of 2017.
 
India and Hong Kong led gains, while Japan's Nikkei slipped 0.3% as the yen edged up on the dollar. Philippine shares rose to their highest levels in nearly two months and Singapore shares rose 1.3%.
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Business Standard
177 22

Sensex rallies 245 points, Nifty ends over 8270; Metals lead

Broader market also rose with BSE Midcap and BSE Smallcap gaining 1.29% and 0.96% respectively

Benchmark indices settled the day higher tracking global cues on upbeat economic data and rise in prices as investors were optimistic ahead of corporate earnings and Union Budget 2017.
 
hit its highest in nearly two months during the day, while the broader NSE hit a near one-month high led by gains in metal, & gas, banking and auto sectors.
 
The S&P BSE settled the day at 26,878, up 245 points, while the broader Nifty50 ended 83 points higher at 8,274.
 
Broader also rose with BSE and BSE gaining 1.32% and 0.98% respectively.

"Positive global following FOMC minutes’ release ensured the Indian added to recent gains. But with EC blowing the election bugle, were sceptic if could result in Budget dates being postponed, and give away the economic advantage for FY18, that was intended from an early budget announcement this year," said Anand James, Chief Strategist, Geojit BNP Paribas Financial Services in a note.

breadth remained positive with 1,939 advances against 889 declines.
 
Sectors and Stocks
 
Adani Ports, Tata Steel, Tata Motors, Bharti Airtel and are top gainers while and NTPC are the biggest laggards in the Only four stocks ended in red on
 
On NSE, all except index were trading in positive. A bill backing key changes in the H1-B programme that allows skilled workers from countries like India to fill high-tech jobs in the US has been reintroduced in the US Congress by two lawmakers who claim that will help crack down on the work visa abuse was the primary reason for the shares falling in today’s trade.
 
Shares of refinery companies continued their upward move with the S&P BSE & Gas index hitting nine year high on the BSE in intra-day trade on Thursday. The index closed 1.78% higher.
 
The & gas index hit an intra-day high of 12,601, its highest level since January 18, 2008. hit a new high of Rs 354, up 3%, while India touched a fresh 52-week high of Rs 469, up 3% on the BSE. ONGC, HPCL, IOC, and from the index were up in the range of 2% to 3%.
 
ended over 3% to Rs 501.80 on the BSE after Jaguar Land Rover (JLR) reported a strong 30% jump in US sales at 12,573 units in December 2016 against 9,638 units a year earlier.
 
BSE metal index rose around 3% in today’s trade out performing all the other sectoral indices. JSW Steel is the biggest gainer in the sector followed by JSPL, Vedanta and Hind Zinc. All ten index stocks ended in green in the index.
 
Global Markets
 
Asian stocks climbed for an eighth consecutive day on Thursday, buoyed by further gains on Wall Street and an overnight bounce in prices that bolstered energy and resource shares.
 
Also underpinning the cautious streak of optimism has been a steady stream of upbeat factory and service sector surveys out of the U.S., Europe and Asia this week, prompting some banks to raise their global growth forecasts for 2017.
 
in Europe open lower after minutes from the last US Federal meeting showed willingness to increase rates at a faster pace. The pan-European Stoxx 600 opened 0.39 points lower with most sectors trading in negative territory while Britain's FTSE 100 index held near record highs.
 
MSCI's broadest index of Asia-Pacific stocks outside Japan rose more than 1%, extending a rally that has seen gain 2% in the opening days of 2017.
 
India and Hong Kong led gains, while Japan's Nikkei slipped 0.3% as the yen edged up on the dollar. Philippine shares rose to their highest levels in nearly two months and Singapore shares rose 1.3%.

image
Business Standard
177 22