Mumbai, Dec 29 (PTI) Equities rallied on the last trading Also Read - Heading To Lahaul-Spiti Valley Soon? You Might Have to Pay Green Tax

session of 2017 today, bringing to close a remarkable year Also Read - Himachal Pradesh: Over 150 Monks Test COVID Positive at Gyuto Monastery, 1 Critical, Others Quarantined

that saw the benchmarks surging past milestones and rewarding Also Read - Suicide Rates Rising, THIS Country Appoints 'Loneliness Minister'

investors with a stellar 28 per cent returns.

The BSE Sensex rose 209 points to finish at a fresh

life-time high of 34,056.83 today, while the broad-based NSE

Nifty jumped 52.80 points, or 0.50 per cent, to end at

10,530.70, just shy of its closing peak.

Power, IT, auto and infrastructure stocks witnessed

robust buying, while the beginning of the January 2018 series

of futures and options added to the momentum.

It has been an upbeat year for the markets. The Sensex

and Nifty surpassed the 34,000 and 10,500 levels for the first

time, shrugging off below-expected corporate earnings as well

as uncertainties on the global front.

While the implementation of the GST caused short-term

disruptions, investors feel the government will stay firm on

its reforms agenda, backed by the BJP’s strong showing in

Gujarat and Himachal Pradesh assembly elections, brokers said.

The Sensex clocked its best performance in recent years,

rising by 7,430.37, or 27.91 per cent in 2017.

It had gained 508.92 points, or 1.94 per cent, last year.

The Nifty too rallied 2,344.90 points, or 28.65 per cent,

in 2017.

“Market surprised the investors with a positive note on

the final trading day of 2017. Expectation of a pick up in

third quarter earnings and strengthening of rupee supported

the sentiment.

“Focus on upcoming Union Budget and government’s reforms

will direct investors to turn sector/stock specific. We feel

that though the outlook on main indices is moderate in the

short to medium-term, the broad market will maintain its

vibrancy as businesses flourish,” said Vinod Nair, Head of

Research, Geojit Financial Services.

The 30-share index started the day on a strong note at

33,889.39 and hit a high of 34,086.05 before closing at

34,056.83, up by 208.80 points, or 0.62 per cent.

It surpassed its previous closing high of 34,010.61

reached on December 26.

The broad-based NSE Nifty rose 52.80 points, or 0.50 per

cent, to end at 10,530.70 after trading between 10,538.70 and

10,488.65.

Both the indices rose for the fourth straight week. The

Sensex advanced by 116.53 points, or 0.34 per cent, while the

Nifty gained 37.70 points, or 0.35 per cent, during the

period.

Shares of Reliance Communications continued their rally

for the fourth straight session today, ending 17 per cent

higher after Mukesh Ambani stepped in to bail out the debt-

ridden firm by acquiring spectrum, tower, optical fibre

network and other assets.

In four days, shares of the company have zoomed 122 per

cent adding Rs 5,506.76 crore to its market capitalisation.

In the Sensex kitty, Tata Motors saw the maximum gain of

3.06 per cent, followed by Axis Bank (2.74 per cent), TCS

(2.72 per cent), Hero MotoCorp (2.38 per cent), Adani Ports

(1.94 per cent), Wipro (1.90 per cent), Asian Paints (1.16 per

cent), Maruti Suzuki (1.05 per cent), HDFC Ltd (0.94 per

cent), ONGC (0.85 per cent), NTPC (0.83 per cent) and

Hindustan Unilever (0.79 per cent).

Sector-wise, the rally was driven by telecom (up 1.63 per

cent), power (1.46 per cent), teck (1.24 per cent), IT (1.20

per cent), auto (1.16 per cent), FMCG (0.85 per cent),

consumer durables (0.85 per cent), infrastructure (0.83 per

cent), capital goods (0.51 per cent), realty (0.46 per cent),

bankex (0.36 per cent) and healthcare (0.18 per cent).

The BSE mid-cap and small-cap indices ended higher by

0.74 per cent and 0.64 per cent, respectively.

Trading was thin across global markets on the last

session of the year. Hong Kong’s Hang Seng rose 0.19 per cent

while Shanghai Composite gained 0.33 per cent. Japan’s Nikkei

shed 0.08 per cent.

European markets were down in early trade with Paris CAC

40 falling 0.11 per cent, while Frankfurt’s DAX shed 0.29 per

cent. London’s FTSE rose 0.27 per cent.

This is published unedited from the PTI feed.