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Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

All that happened in Friday's trade

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SI Reporter  |  New Delhi 

The benchmark indices ended higher on Friday with the Nifty50 settling above its crucial 9,950 mark, buoyed by a jump in Tata Steel on strong quarterly production numbers, while investors stayed cautious as Goods and Services Tax (GST) Council meeting went underway.  The Council is likely to give a major relief to exporters as well as small and medium enterprises (SMEs). These segments have been affected the most by the new indirect tax regime, which has depressed the economic growth numbers in the first quarter of the current financial year because of destocking on ...

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Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Anand James, Chief Market Strategist, Geojit Financial Services   Expectations of more business-friendly reforms out of today's GST council meeting assisted the market to inch further closer to the 10,000 level. Positivity ahead of the festive season has also encouraged to take more risks. However, inflation numbers and upcoming earning season should keep investment optimism measured.

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Sensex gainers and losers at close Source: BSE

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Market breadth The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,703 shares rose and 963 shares fell. A total of 111 shares were unchanged.

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Broader markets    The BSE Midcap and the BSE Smallcap indices outperformed to gain 1% each. 

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Sectoral trend  The Nifty Metal index was the leading sectoral gainer, followed by Nifty PSU Bank.  Source: NSE

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Markets at close The S&P BSE Sensex settled at 31,814, up 222 points, while the broader Nifty50 ended at 9,979, up 91 points.

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Buzzing stock Granules India rose over 3% to Rs 118 on BSE after the company said that it has received establishment inspection report from the US drug regulator for Vizag facility.   USFDA had inspected this facility in December 2016 and had found seven observations during the inspection. This facility currently manufactures active pharmaceutical ingredient (API) intermediates.

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

European markets Europe’s major benchmarks were set to end a tumultuous week on a slightly softer note, with investors’ focus turning from a separatist crisis in Catalonia to US jobs data expected later in the day.   The pan-European STOXX 600 dipped 0.1% in early trading, but remained on track for its fourth straight weekly gains. Spain's IBEX declined 0.2% after a strong rally in the previous session as nerves over Catalonian independence eased.   The main Spanish benchmark was set for a 1.7% fall on the week, having hit its lowest in more than six months on Wednesday as investors sold Spanish assets in the deepening political crisis.

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Netflix shares hit record high  Online streaming platform Netflix has raised the monthly price of its most popular streaming plan in the US.   The two-stream HD tier is now available for $10.99 per month for new subscribers while existing customers will be moved to the new rate over the next few months. This is $1 per month more from the previous $9.99 monthly fee.   This led to shares of Netflix hitting a new all-time high, climbing more than 4 per cent and peaking at $192.80 per share in Thursday morning trading.

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Markets check At 3:00 pm, the S&P BSE Sensex was trading at 31,754, up 162 points, while the broader Nifty50 was ruling at 9,958, up 70 points.

Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

Buzzing stock   Jubilant FoodWorks, which runs Domino's and Dunkin' Donuts outlets, hit  fresh 52-week high of Rs 1,552, gained 5% on BSE in intra-day trade, extending Thursday’s 5% gain, on expectation of revival in same-store sales growth (SSG) during the current financial year 2017-18 (FY18). READ MORE

First Published: Fri, October 06 2017. 15:34 IST
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Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally

All that happened in Friday's trade

The benchmark indices ended higher on Friday with the Nifty50 settling above its crucial 9,950 mark, buoyed by a jump in Tata Steel on strong quarterly production numbers, while investors stayed cautious as Goods and Services Tax (GST) Council meeting went underway.  The Council is likely to give a major relief to exporters as well as small and medium enterprises (SMEs). These segments have been affected the most by the new indirect tax regime, which has depressed the economic growth numbers in the first quarter of the current financial year because of destocking on ...

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