Sensex, Nifty hit record closing highs; up in first week of 2018


The benchmark BSE Sensex closed up 0.54 percent at 34,153.85, while the broader NSE Nifty ended 0.51 percent higher at 10,558.85. The 50-share Nifty cracked previous record (intra-day) of 10,552.40 points reached on December 27.

On the other hand, the S&P BSE oil and gas index declined by 63.33 points and energy index slipped by mere 0.32 points.

Banking behemoth SBI rallied 0.83 per cent while Punjab National Bank gained 1.50 per cent. Bank of Baroda also gained 0.67 per cent. Shares of Reliance Communications continued their upward march for yet another session, soaring 19.51 per cent to Rs 37 after reports that Mukesh Ambani-led Reliance Jio will acquire mobile business assets including spectrum, mobile towers and optical fibre network of Reliance Communications.

Among the 30 Sensex stocks, Yes Bank posted maximum gains. Among them, consumer durables index gained the most by 1.25 per cent, followed by TECk 0.89 per cent, realty 0.75 per cent and FMCG 0.74 per cent.

YES Bank was the top percentage gainer.

Idea Cellular rose over 6 per cent, top gainer on BSE, after the telco unveiled a plan to raise Rs 6,750 crore ahead of its merger with Vodafone's local unit.

Brokers said improved liquidity in the market following continuous foreign fund inflows and increased buying by domestic institutional investors after the government moved forward on its bank recapitalisation programme boosted trading sentiments.

Sentiment got a leg-up after the Lok Sabha on Thursday gave its approval for Rs 80,000 crore recapitalisation bonds for strengthening public sector banks (PSBs), traders said.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 212.05 crore, while domestic institutional investors (DIIs) made purchases worth Rs 325.24 crore on Thursday, as per provisional exchange data.

Overseas, Asian bourses displayed a strong trend, with Japan's Nikkei rising 0.89 per cent, Shanghai Composite gaining 0.18 per cent while Hong Kong's Hang Seng rose 0.25 per cent.

Global markets rose after the U.S. stock indices closed at all-time highs yesterday, while the Dow topped the 25,000-mark for the first time. Sensex was up 141 points at 34,111 while the broader Nifty was at 10,538, up 33 points.

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