Markets positive on last trading day of 2017
Lupin, Divis Lab, Eicher Motors, Power Grid and Larsen & Toubro were the top gainers in the benchmark Nifty
Ending yesterday's losing streak, markets opened on a positive nod, with majority of the shares advancing on the last trading day of 2017. Pharma, power, telecom and capital goods and FMCG companies added strength to the indices today.
Lupin, Divis Lab, Eicher Motors, Power Grid and Larsen & Toubro were the top gainers in the benchmark Nifty.
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.
Anil Ambani group firms Reliance Naval, Reliance Power, Reliance Infrastructure and Reliance Capital and Reliance Home Finance continued with their rally.
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.
The 30-share BSE index closed at 33,848.03, down 0.19%, while NSE index fell 0.12% to 10,477.90.
Nifty Realty index rose over 3% in the final leg of the trading yesterday, while Unitech rose 12%, Phoenix Mills, DLF and HDIL witnessed over 3% gain.
Telecom index closed flat. Bharti Airtel closed at 531.05, down 0.55, after trading flat through the day.