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Sensex soars 240 points; Nifty above 8250

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Dion Global

05 Jan 2017

The key domestic benchmark indices continued to trade firm during the late noon trading session with frontline gauges trading comfortably above the crucial 8,250 (Nifty) and 26,800 (Sensex) mark supported by buying activities in blue-chip stocks.

At 14:20 hours, the 30-share benchmark index was trading at 26873.93 up by 240.8 points or by 0.9 per cent, while the NSE Nifty was at 8275.15 up by 84.65 points or by 1.03 per cent.

In the bullish trade so-far, Sensex touched an intraday high of 26899.88 and an intraday low of 26738.42, while the NSE Nifty touched an intraday high of 8278.9 and an intraday low of 8223.7.

The sentiments were upbeat with Finance Minister Arun Jaitley expressing confidence that direct and indirect tax mop-up will surpass Budget estimate of Rs 16.3 lakh crore by March-end. Investors took support with the private report stating that government is expected to meet the fiscal deficit target of 3.5 per cent of GDP in the current financial year, despite recent demonetisation move and potential delay in roll out of the Goods and Services Tax (GST).

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 285.65,+4.12%), Tata Steel Ltd. (Rs. 420.60,+3.83%), Tata Motors Ltd. (Rs. 500.65,+2.91%), Oil And Natural Gas Corporation Ltd. (Rs. 199.15,+2.47%), Maruti Suzuki India Ltd. (Rs. 5639.65,+2.36%), among others.

The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2343.50,-1.47%), Infosys Ltd. (Rs. 993.50,-0.48%), Mahindra & Mahindra Ltd. (Rs. 1220.90,-0.02%), HDFC Bank Ltd. (Rs. 1186.00,-0.01%), among others.

Among the sectors, Metal index was at 10628.41 up by 296.28 points or by 2.87%. JSW Steel Ltd. (Rs. 173.80,+6.63%), Jindal Steel & Power Ltd. (Rs. 75.15,+5.47%), Vedanta Ltd. (Rs. 226.50,+4.40%), Tata Steel Ltd. (Rs. 420.65,+3.84%), Hindustan Zinc Ltd. (Rs. 257.90,+2.69%),.

On the flip side, IT index was at 10136.75 down by -80.05 points or by -0.78%. Hexaware Technologies Ltd. (Rs. 209.00,-2.04%), HCL Technologies Ltd. (Rs. 842.30,-1.95%), Intrasoft Technologies Ltd. (Rs. 420.00,-1.81%), Datamatics Global Services Ltd. (Rs. 134.60,-1.61%), Tata Consultancy Services Ltd. (Rs. 2342.50,-1.52%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2963 , shares advanced were 1977 while 831 shares declined and 155 were unchanged.