Monday, 11 December, 2017

Sensex down 78 points, Nifty below 10100 late morning

Sensex zooms over 352 points Nifty reclaims 10,100-mark Investors turn buoyant as Sensex gains 350 points; markets shake off bearish mood
Wallace Pearson | 08 December, 2017, 01:38

The Nifty soared 122.60 points, or 1.22 per cent, on Thursday to close at 10,166.70 after shuttling between 10,182.65 and 10,061.90.

PSU Bank stocks too recovered from the previous session's losses, and Nifty PSU bank index ended 1.25 per cent higher at 3,798.55.

The benchmark BSE Sensex on Thursday shaped up by rebounding over 352 points as investors hunted for bargains in recently battered bank, automobiles and metal stocks.

On Wednesday, the Sensex had slumped over 200 points after the RBI monetary policy committee chose to hold the policy repo rate and raised the inflation forecast for the rest of the current fiscal year to 4.3-4.7 per cent. This is its biggest single-day jump since May 25, when it had gained 149.20.

According to market observers, robust buying in auto, consumer durables and capital goods stocks lifted the benchmark indices. Most Asian shares declined as USA policy uncertainty kept sentiment in check.

Fall in crude oil prices: Sharp decline in crude oil prices in global commodities on Thursday also boosted investor sentiment in today's trade.

The domestic unit opened lower at 64.44 per dollar against Tuesday's closing level of 64.38 per dollar at the interbank forex market.

Major Asian indices closed higher.

Major losers were SBI, ICICI Bank, HDFC Bank, Axis Bank, HDFC Ltd, Maruti Suzuki, Bajaj Auto, Hero MotoCorp, Tata Steel, ITC Ltd and Wipro.

Among other Asian markets, Hong Kong's Hang Seng was down 0.39 per cent while Japan's Nikkei shed 0.42 per cent in early session today.

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