2017's last trading day ends with big gains
TCS, Wipro, Infratel, Tata Motors (DVR), Tata Motors, Maruti Suzuki India, ITC among the gainers
Indices extended gains in the evening trade, with the Sensex trading above the psychological 34,000 mark on the last trading day of 2017. The S&P BSE Sensex and benchmark Nifty gained over 28% and 29%, respectively, this year.
Nifty closed at 10,530.70 points, up 0.5%, while Sensex gained 0.62% to close at 34,056.83 points today.
This was the spectacular year for the Indian indices. BSE Metals and Realty indices rose (101.94%) and 94.02%, while BSE FMCG and BSE Capital Goods gained 35.87% and 35.43%, respectively. S&P BSE Midcap and S&P BSE Smallcap indices have also surged 48% and 60%, respectively, this year.
The day's gains were led by TCS, Wipro, Infratel, Tata Motors (DVR), Tata Motors, Maruti Suzuki India, ITC and Motherson Sumi. Shares of telecom and telecom tower infrastructure providers rose.
Ending the wining streak, most of the metal and mining stocks were trading in the negative territory in afternoon trade, dragging the Nifty Metal index down.
The Nifty Metal index was trading 0.50% down at at close.
Hindustan Copper (down 1.61%), Hindalco Industries (down 0.60%), JSW Steel (down 0.57%) and Vedanta (down 0.83%) were the top drags on the BSE Metal index.
In the morning trade, Pharma, power, telecom, capital goods and FMCG companies added strength to the benchmark indices.
IT index gained over 1% after remaining subdued for the last one month, with KPIT and Tata Elxsi gaining 4% and 3%, respectively, in the evening trade.
Lupin, Divis Lab, Eicher Motors, Power Grid and Larsen & Toubro were the top gainers in the benchmark Nifty during the morning trade.
Reliance Communications (RCom) today rose as much as 23%, after Mukesh Ambani's Reliance Jio announced yesterday that it will acquire RCom's wireless infrastructure assets, including towers and spectrum, at an estimated price of Rs 20,000-24,000 crore.The stock, however, 17.48% up on the NSE.
Anil Ambani group firms Reliance Naval, Reliance Power, Reliance Infrastructure and Reliance Capital and Reliance Home Finance continued with their rally.
BSE Power index gained 1.63%, while Reliance Power and GMR Infra gaining over 12% and 11%, respectively.
In the pre-open session, Nifty ended at 10,492.35, up 0.14%.
Benchmark indices slipped into the negative territory after opening slightly higher yesterday even as real estate and metal stocks closed over 3% and 2%, respectively.