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Sensex surges 234 points; Nifty nears 8400

Share Source By

Dion Global

11 Jan 2017

The key domestic benchmark indices continued to gain momentum during the late noon trading session on the back of sustained buying activities by both funds and retail investors.

At 14:20 hours, the 30-share benchmark index was trading at 27133.77 up by 234.21 points or by 0.87 per cent, while the NSE Nifty was at 8374 up by 85.4 points or by 1.03 per cent.

Sentiments remained up-beat with Prime Minister Narendra Modi’s statement that India is on threshold of becoming most digitised economy in the world. While he also declared his ambition to bring about a paradigm shift through a series of historic changes, reiterating the government's commitment to reforms and projecting India as a bright spot amid global gloom after having emerged as the world's fastest-growing economy.

In the bullish trade so-far, Sensex touched intraday high of 27152.91 and intraday low of 26978.44 The NSE Nifty touched intraday high of 8379 and intraday low of 8322.25.

The top gainers of the BSE Sensex pack were Coal India Ltd. (Rs. 314.90,+4.83%), Tata Steel Ltd. (Rs. 447.45,+3.84%), Lupin Ltd. (Rs. 1523.75,+2.43%), ICICI Bank Ltd. (Rs. 266.25,+2.29%), State Bank of India (Rs. 252.40,+1.84%), among others.

The top losers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2709.05,-1.16%), Infosys Ltd. (Rs. 967.25,-0.35%), Reliance Industries Ltd. (Rs. 1085.00,-0.19%), Tata Consultancy Services Ltd. (Rs. 2311.55,-0.17%), Bharti Airtel Ltd. (Rs. 319.60,-0.16%), among others.

Among the sectors, Metal index was at 11221.4 up by 468.24 points or by 4.35%. Jindal Steel & Power Ltd. (Rs. 82.35,+10.02%), Hindalco Industries Ltd. (Rs. 174.30,+6.18%), JSW Steel Ltd. (Rs. 189.15,+6.12%), National Aluminium Company Ltd. (Rs. 72.10,+6.11%), Steel Authority of India (SAIL) Ltd. (Rs. 55.60,+5.20%),.

On the flip side, IT index was at 9938.59 down by -16.54 points or by -0.17%. Aurionpro Solutions Ltd. (Rs. 144.65,-2.33%), Take Solutions Ltd. (Rs. 145.10,-1.76%), Nucleus Software Exports Ltd. (Rs. 278.40,-1.33%), Polaris Consulting & Services Ltd. (Rs. 159.60,-1.27%), Quick Heal Technologies Ltd. (Rs. 256.00,-1.12%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2958 , shares advanced were 1776 while 1022 shares declined and 160 were unchanged.