Sensex, Nifty set fresh records; banks, refiners lead gains
Jan 13 2018 by Joanne Wise
The 30-share Sensex, after a cautious start, gathered momentum and rallied to 34,558.88, before ending at 34,503.49, a rise of 70.42 points, or 0.20 per cent.
The BSEMidcap index was 0.61 per cent down at 18,056, while Sensex was 0.22 per cent down at 34,427 around 12.35 pm (IST).
A total of 109 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE. Most Asian stocks closed higher after strong lead from Wall Street.
"However, selling pressure emerged in afternoon trade after four Supreme Court judges reportedly said working of the apex Court was not in order".
The BSE Mid-cap and BSE Small-cap indices were up 0.26% and 0.75%, respectively.
Vinod Nair, Head of Research, Geojit Financial Services, said: "The market reversed from intra-day low amid concerns over administration of the apex court which had resulted in a sentimental sell-off".
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Expectations of healthy domestic earnings aided sentiments.
On the currency front, the Indian rupee strengthened by three paise to close at 63.63 against the U.S. dollar from its previous close at 63.66.
Sector-wise, the upmove was driven by oil and gas (up 0.69 percent), banking (0.50 percent), capital goods (0.48 percent), metal (0.45 percent), auto (0.28 percent), teck (0.14 percent), infrastructure (0.14 percent) and IT (0.03 percent). On the other hand, realty index fell 1.46 per cent, FMCG 0.52 per cent, power 0.47 per cent and healthcare 0.34 per cent.
ICICI Bank Ltd rose 2.7 percent, while Reliance Industries Ltd closed 1.2 percent higher.
Notable gainers were Adaniports 1.48 per cent, Wipro 1.37 per cent, Coal India 1.37 per cent and ONGC 0.41 per cent.