Markets post smart weekly gains; Sensex, Nifty jump 11% this year

  • Markets post smart weekly gains; Sensex, Nifty jump 11% this year

Markets post smart weekly gains; Sensex, Nifty jump 11% this year

The new-found optimism spurred stocks to new levels as the Nifty ended at a new peak of 9,160 today and the Sensex notched up minor gains, with liquidity keeping confidence level high.

The NSE 50-share Nifty index opened higher at 9,129.65 and hovered between 9,158.45 and 9,128.55 before closing at 9,153.70, a rise of 68.90 points, or 0.76 per cent.

"The Sensex is yet to register a new life intra-day high or close".

The strong undercurrent was further flavored by government update on GST roll-out from July as well as US Federal Reserve's rate hike cushioned by less hawkish tone on future hike eliminated market-players distraction.

The Nikkei was down 0.4% but Hang Seng gained 0.4%, Kospi 0.2%, Strait Times 0.3% and Shanghai 0.1%.

A total of 1,157 scrips advanced, 501 declined, while 87 remained unchanged.

"The rally in the market is expected to continue until the fourth-quarter results are out".

The pan-European STOXX 600 index rose 0.6 per cent and touched its highest level since December 2015, helped by the Fed's dovish tone and the Dutch election results.

Buying activity was so strong that all sectoral indices, led by metal and infrastructure, ended in the green. The 30-share benchmark index Sensex climbed 239 points.

Outperforming the front liners, The BSE Midcap and BSE Smallcap indices jumped by 4 per cent and 3 per cent respectively.

In terms of investments, provisional data with exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 1,360.10 crore, whereas the domestic institutional investors (DIIs) divested scrip worth Rs 88.17 crore. Mid-cap index decreased 19 points, while Small-cap increased 6 points.

Notable losers were HeroMotoCo (1.56 per cent), Bharti Airtel (0.70 per cent), reliance (0.56 per cent), Coal India (0.26 per cent) and ICICI Bank (0.23 per cent). The market capitalisation of NSE stood at Rs 11,823,832.12 crore.