Mumbai, Dec 8 (PTI) Unabated buying by domestic
institutions propelled the benchmark Sensex beyond the 33,000
-mark today, with FMCG stocks securing a podium finish.
The broader Nifty too put up a strong show by notching up
gains of close to 1 per cent.
Buying sentiment was bolstered after opinion polls gave
an edge to the BJP in the upcoming Gujarat elections, while
upbeat global leads added to the momentum.
The 30-share BSE Sensex opened on a strong footing at
33,034.20 and maintained its upward trend to hit the day’s
high of 33,285.68 before ending at 33,250.30, up 301.09
points, or 0.91 per cent.
The index had rallied 352.03 points in the previous
session on value-buying by investors in recently-battered
The Nifty finished the day at 10,265.65, a hefty gain of
98.95 points, or 0.97 per cent, after shuttling between
10,270.85 and 10,195.25.
On a weekly basis, the Sensex gained 417.36 points, or
1.27 per cent, while the Nifty advanced 143.85 points, or 1.42
Most Asian and European markets rallied as investors
awaited major economic data from China and the US amid
overnight gains at Wall Street following reports that
President Donald Trump is planning to unveil a big-spending
public works plan.
“The buying momentum in Indian markets was given a boost
by hopes that the ruling BJP would win the critical state
elections in Gujarat, which would lay the groundwork for the
general elections in 2019… Stability at a governance level
is positive for market sentiment,” said Karthikraj Lakshmanan,
Senior Fund Manager Equities, BNP Paribas Mutual Fund.
Domestic institutional investors (DIIs) were net buyers
as they bought shares worth Rs 926.68 crore yesterday while
foreign portfolio investors (FPIs) offloaded equities
amounting to Rs 1,075.62 crore, provisional data showed.
ITC emerged as the leader of the Sensex pack today, with
a 3.44 per cent rise, followed by Tata Motors at 2.21 per
Other gainers were Sun Pharma, HUL, Cipla, ONGC, Maruti
Suzuki, HDFC Bank, Bharti Airtel, Axis Bank, ICICI Bank, HDFC
Ltd and Tata Steel, gaining up to 2.21 per cent.
In contrast, Hero MotoCorp, SBI, Reliance Industries,
TCS, Asian Paint and Dr Reddy’s succumbed to profit-booking.
All the sectoral indices ended in the green. The BSE FMCG
index topped with a robust 2.23 per cent rise, followed by
metal 1.36 per cent, healthcare 1.35 per cent, consumer
durables 1.15 per cent, oil & gas 1.02 per cent, auto 0.97 per
cent, bankex 0.92 per cent and realty 0.72 per cent.
In keeping with the overall trend, the small-cap and mid
indices rose 1 per cent and 0.89 per cent.
In the Asian region, Japan’s Nikkei rose 1.39 per cent,
Hong Kong’s Hang Seng gained 1.19 per cent, while Shanghai
Composite Index gained 0.55 per cent.
European shares too were in the positive zone in their
early deals, with Frankfurt’s DAX rising 1.29 per cent and
Paris CAC 40 up 0.73 per cent. London’s FTSE was up 0.27 per
This is published unedited from the PTI feed.