Sensex Soars 352 Points; Nifty Ends Above 10150

Erica Roy
December 8, 2017

The Sensex is trading at 31,740.12 points down by 62.32 points or 0.19 per cent from its Tuesday's close at 32,802.44 points.

Sensex zoomed 179 Points or 0.55% to 32,776.34 while the wider Nifty was up by over 55 points or 0.55% to 10,099.35.

The BSE Sensex hit a record high on Thursday as steps taken by the capital. Participants sensed value-buying opportunities after equities' recent lacklustre run, making stock valuations attractive, brokers said.

Weak Asian cues as technology stocks tracked a sell-off in their USA counterparts that saw the Nasdaq tumbling over 1 per cent overnight, weighed on the sentiments, brokers said.

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. Most Asian shares declined as United States policy uncertainty kept sentiment in check.

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Market breadth was positive with 1,614 advances against 542 declines.

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

Major Asian indices closed higher. However, profit selling trimmed some gains off key indices in early afternoon trade.

Among the sectoral indices on BSE, power and metal indices slipped 1.06 per cent and 0.85 per cent. Telecom, Bankex and oil & gas indices closed higher by 0.83 per cent, 0.38 per cent and 0.16 per cent, respectively.

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