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vegassports-odds.com December 13, 2017


Bears lose grip as value-buying lifts Sensex 352 points

08 December 2017, 08:41 | Winifred Adams

Stocks bounce back

Weekly review Sensex rebound 417 points Nifty above 10,250

The barometer 30-scrip Sensitive Index (Sensex) of the BSE provisionally closed gaining over 300 points, while the wider Nifty50 of the National Stock Exchange (NSE) closed firmly above the 10,100 level.

All the BSE sectoral indices closed in the green, led by telecom, consumer durables, power, capital goods, auto, oil&gas and realty.

The benchmark BSE Sensex ended 1.08 percent higher at 32,949.21 in its biggest single-day rise since November 1.

However, value-buying in several heavyweights towards the fag-end trimmed the losses, with the index finishing at 32,802.44, down 67.28 points or 0.20%.

Trading mood was also impacted as Fitch Ratings yesterday cut the country's GDP growth forecast for the current fiscal to 6.7% from the earlier projected 6.9 per cent.

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Other companies that stood among the pack of gainers on the Sensex include Asian Paints, Maruti Suzuki, Tata Steel, Bajaj Auto, NTPC, Larsen and Toubro, ICICI Bank, Hindustan Unilever, State Bank of India, Tata Motors, Lupin, Adani Ports, Hero MotoCorp, Power Grid and Infosys, rising up to 3.29%.

The top Nifty gainers included GAIL (+8.57%), Tech Mahindra (+5.13%) and UPL (+4.97%). Polls indicate a victory for the ruling Bharatiya Janata Party (BJP), but with a greatly reduced majority.

The markets opened the Thursday's session on a positive note with key benchmark indices extending intra-day gains.

"Markets will now look out for the Gujarat election outcome". MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed. Hong Kong's Hang Seng was up 0.10 per cent while Japan's Nikkei gained 1.27 per cent in early trade today. The broader markets remained under pressure, with the small-cap index falling by 0.52% and mid-cap 0.09%.



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