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Positive global cues, IT stocks lift equity indices

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  12 Dec 2017 12:00 AM GMT

Mumbai, Dec 11: Key Indian equity indices extended their gains for the third consecutive session on Monday as positive global cues, alongwith healthy buying in auto, IT and healthcare stocks, lifted market sentiment. On a closing basis, the wider Nifty50 of the tiol Stock Exchange (NSE) edged higher by 56.60 points or 0.55 per cent to 10,322.25 points. The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,455.79 points — up 205.49 points or 0.62 per cent — from its previous close. The BSE market breadth was bullish — 1,411 advances and 1,294 declines.

“Markets rallied higher on Monday to close with gains for the third consecutive session. IT stocks led from the front even as strong gains in Coal India and index heavyweights HDFC and ITC helped key indices rise,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

“Positive global cues aided the market sentiments. Broad market indices like the BSE mid-cap and small-cap indices gained less, thereby underperforming the main indices,” he added. In the broader markets, the S&P BSE mid-cap index closed higher by 0.36 per cent and the small-cap index by 0.22 per cent.

On the currency front, the rupee strengthened by nine paise to close at 64.36 against the US dollar from its previous close at 64.45.

“Indian equities advanced as continuous buying by domestic institutiol investors (DIIs) amid strong global markets lifted sentiments,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS. Provisiol data with the exchanges showed that foreign institutiol investors sold scrips worth Rs 185.60 crore while DIIs bought stocks worth Rs 108.94 crore.

Vinod ir, Head of Research, Geojit Fincial Services, said: “Market extended gains amid better US economic data which provides the scope of global market stability. “On the domestic front, optimism on election result in favor of the ruling party continues to attract liquidity in the market.” Sector-wise, the S&P BSE automobile index rose by 164.63 points, followed by IT index by 107.75 points and banking index by 102.85 points. On the other hand, the S&P BSE oil and gas index was down 37.46 points, energy index by 7.89 points and realty index by 3.08 points.

Major Sensex gainers on Monday were: Tata Consultancy Services, up 2.35 per cent at Rs 2,662; Mahindra and Mahindra, up 2.16 per cent at Rs 1,419; Lupin, up 2.15 per cent at Rs 837.70; HDFC, up 2.14 per cent at Rs 1,713.20; and Wipro, up 2.12 per cent at Rs 289.25.

Major Sensex losers were: NTPC, down 1.36 per cent at Rs 177.50; ONGC, down 0.78 per cent at Rs 178.90; Reliance Industries, down 0.55 per cent at Rs 915.90; Hindustan Unilever, down 0.48 per cent at Rs 1,320.35; and Adani Ports, down 0.42 per cent at Rs 390.95. (IANS)

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