Post Session: Sensex ends 258 pts higher, Nifty up 1%

24/01/2017 16:27

The Indian equities settled the day on positive note ahead of expiry of January derivative contracts tomorrow and Union Budget that will be presented on February 1. The investors shrugged off concerns over Donald Trump’s protectionist policies and shifted focus to Union Budget 2017-18.

The 30-share barometer index of Bombay Stock Exchange, Sensex closed trade at 27375.58, up by 258.24 points or by 0.95 per cent, and the NSE Nifty was at 8475.8, up by 84.3 points or by 1 per cent.

Sentiments were positive with SBI’s research report Ecowrap, which said that the Government is likely to make sweeping recast of direct taxes in the ensuing Budget to give a boost to the economy following demonetisation. Analysts are hoping for a budget that delivers some incentives to support an economy that has been hit by India’s shock move to ban higher-value banknotes.

During the day’s trade, the BSE Sensex touched intraday high of 27393.35 and intraday low of 27140.85 The NSE Nifty touched intraday high of 8480.95 and intraday low of 8398.15.

The top gainers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2800.00,+3.42%), Mahindra & Mahindra Ltd. (Rs. 1219.95,+2.68%), Adani Ports & Special Economic Zone Ltd. (Rs. 293.25,+2.41%), Coal India Ltd. (Rs. 309.50,+1.96%), Larsen & Toubro Ltd. (Rs. 1419.65,+1.88%), among others.

On the flip side, Bharti Airtel Ltd. (Rs. 316.20,-1.00%), Infosys Ltd. (Rs. 945.10,-0.70%), Hindustan Unilever Ltd. (Rs. 860.95,-0.27%), ICICI Bank Ltd. (Rs. 257.10,-0.14%), were among top losers on BSE.

On the sectoral front, metal and auto indices emerged as top gainers, adding as much as 1.69 per cent and 1.67 per cent respectively.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3101 , shares advanced were 1688 while 1196 shares declined and 217 were unchanged.

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