Sensex moves up 110 points as January F&O series takes off

Dec 31, 2017, 00:37

At 12:27 IST, the barometer index, the S&P BSE Sensex, was down 11.82 points or 0.03% at 33,899.99.

Meanwhile, the government on Wednesday said it has chose to make additional borrowing of Rs 50,000 crore this fiscal through dated securities, a move that may put burden on the fiscal deficit target of 3.2% of gross domestic product (GDP).

But the finance ministry maintained that there will be no change in net borrowing as envisaged in the Budget for 201718, which soothed the frayed nerves a bit.

On the National Stock Exchange (NSE), the wider Nifty50 fell by 40.75 points or 0.39 per cent to close at 10,490.75 points. Intra-day, it shuttled between 10,534.55 and 10,460.45. After the review of the borrowing programme with the Reserve Bank of India (RBI), it was decided that the government will raise additional market borrowings of Rs 50,000 crore only in fiscal FY'18 through dated Government securities. Investors used every rally as an opportunity to sell.

Mumbai: Stocks were off to a positive start in the final trading session of 2017, with the benchmark Sensex gaining 110 points and the NSE Nifty crossing the 10,500-point mark on widespread gains led by banking, FMCG and capital goods shares.

Today is the last session of December expiry in the derivatives segment.

Domestic institutional investors (DIIs) sold equities worth a net Rs 206.68 crore while foreign portfolio investors (FPIs) bought shares worth a net Rs 172.32 crore yesterday, as per provisional data. All sectoral gauges led by metal and healthcare rose up to 1.07 per cent.

Major Sensex losers were: Bharti Airtel, down 1.62 per cent at Rs 534; ICICI Bank, down 1.53 per cent at Rs 312.65; Larsen and Toubro, down 0.87 per cent at Rs 1,258.60; State Bank of India, down 0.85 per cent at Rs 314.15; and Tata Consultancy Services, down 0.82 per cent at Rs 2,621.05.

Reliance Communications today added to its previous gains, soaring 7.72 per cent, as investor sentiment remained upbeat following the announcement of its debt resolution plan.

Metal stocks moved up, tracking a rally in copper prices, and pushed the BSE Metal index up by over 2 percent.

The BSE mid-cap and small-cap indices ended higher by 0.74%and 0.64%, respectively.