ibusinesslines.com
ibusinesslines.com December 18, 2017


Bears lose grip as value-buying lifts Sensex 352 points

08 December 2017, 09:16 | Myron Mathis

Live: Sensex surges 352 points on all-round buying

Bank stocks power Sensex, Nifty higher

The Sensitive Index (Sensex) of the BSE, which had closed at 32,949.21 points on Thursday, opened higher at 33,034.20 points. Meanwhile, the broad based NSE Nifty went up by 122.60 or 1.22% at 10,166.70 with 44 components registering rise.

Other losers included Tata Steel, NTPC, Dr Reddy's, ONGC, Power Grid, Bajaj Auto, L&T, M&M, Asian Paints, HDFC Bank, HUL, Lupin, Coal India, ITC, Tata Motors, Axis Bank, Maruti Suzuki and Infosys, falling by up to 1.71 per cent.

Foreign portfolio investors (FPIs) sold shares worth net Rs 1,075.62 crore yesterday, while domestic institutional investors (DIIs) bought to the tune of Rs 926.68 crore. Auto and metal shares jumped more than 1% in early morning deals, while the consumer durables rose 0.70%.

PSU Bank Nifty rose 1.25 per cent led by lenders such as Bank of India, Oriental Bank, Syndicate Bank and SBI on expectations that the government would soon reveal details of a recapitalisation plan. Polls indicate a victory for the ruling Bharatiya Janata Party (BJP), but with a greatly reduced majority.


"Markets will now look out for the Gujarat election outcome".

Gas stocks were on fire as the state-run GAIL surged 7 percent to hit a fresh record high of Rs 489.30 per share while Mahanagar Gas, Indraprastha Gas and Petronet LNG rallied 3-5 percent.

The markets on Friday took off from the launchpad of yesterday's positive sentiment as Sensex gained nearly 200 points in initial trade. Shanghai Composite, however, shed 0.08 percent.

The US Dow Jones Industrial Average ended 0.29% higher in Thursday's trade.



Other News

Trending Now

Bel-Air fire: 4 homes destroyed, 475 acres burned
More than 50 public schools in the Los Angeles Unified School District were also shuttered. The fire is not contained in the slightest.

Airtel partners with Intex to offer affordable 4G smartphones in India
Coming to the Intex Aqua S3 , the smartphone features a 5-inch HD display with a screen resolution of 1280 x 720 pixels. These phones come with a Rs 169 bundled plan that offers unlimited calling and 500 MB 4G data per day for 28 days.

Louis Oosthuizen WDs from Joburg Open because of freak injury
Davidse excelled at the par fives, claiming birdies at all three, Another five birdies came at par fours with one at a par three. He is joined by James Morrison, Sebastian Heisele and South African trio Jared Harvey , Erik Van Rooyen and Ockie Strydom .

Bayonetta 3 is coming exclusively to Switch
They didn't show much, but clearly there will be a lot of bullets flying, either in slow motion or in bullet hell style. Bayonetta 3 has been announced because Nintendo is staffed by the greatest human beings in the industry.

Philippe Coutinho's message after Liverpool rout is seriously encouraging for Barcelona
Barcelona are reportedly lining up a £127million move for the playmaker when the January transfer window opens. Philippe Coutinho has admitted that he is "unsure" what will happen with regards to his Liverpool future.

Giant Food Stores donate to Salvation Army of York
The Corp Commander says this is needed more than ever with their Red Kettle Campaign numbers down. The Salvation Army has added an additional sign-up for Toys for Tots for children ages up top 12.

Israel Defense Forces strike Gaza Strip after Hamas rocket attack
Later in the evening another launch was reported with rockets said to have fallen in open fields in Israeli territory. The IDF confirmed the use of a tank and an IAF to strike Hamas targets in the Gaza Strip.