Sensex rally on expiry day, gains 155 pts, Nifty above 8,100

29 Dec 2016

Staying flat most of the session, late afternoon buying lifted Benchmark Sensex by 155.47 points to close one week highs at 26,366.15, while the broader Nifty ended above the key 8,100-level amid December F&O derivative expiry day.

The market witnessed thin volumnous trade most of the session taking cues from subdued Asian cues after overnight setback in Wall Street, later investors opted for shortcovering in key heavyweights on the year-end settlement day.

Buying sentiment propelled the market, boosted by India s biggest bourse NSE filed its draft prospectus for a Rs 10,000-crore Initial Public Offer (IPO) of equity with the Securities and Exchange Board of India (Sebi).

While, overnight notification of RBI's mov to give more time totalling 90 days to the Banks and NBFCs to recognise NPAs, giving further relief to people hit by demonetisation, lifted the sentiment.

While, appreciating rupee by 14 paise at 68.10 against the dollar supported the market.

Among the sectors buying in most of the sectors were led by Consumer Durables, Energy, Oil&Gas, Metal, Auto, Financials, Realty, Telecom, Power, Bank, Industrials, Teck and IT, while, the broader market outperformed the headline indices with BSE Midcap and BSE Smallcap gaining heavily.

The 30-share Sensex opened higher at 26,429.41 and hovered between 26,429.63 and 26,166.67 before closing at 26,366.15, showing a gain of 155.47 points, or 0.59 per cent.

On Wednesday, the barometer lost marginally by 2.76 points.

The 50-share NSE Nifty climbed to settle above the key 8,100-level at 8,103.60, rallying 68.75 points, or 0.86 per cent. Intra-day, it hovered between 8,111.10 and 8,020.80.

Elsewhere, Asian shares ended mixed after Wall Street suffered a mild setback after weeks of gains, while focusing on US economic data later in the day.

Key indies of Japan, China and Singapore fell between 1.32 per cent to 0.20 per cent. While HongKong gained 0.17 per cent.

European shares trading lower with traders using the quiet holiday period to book some profit with market lifted to multi-year and record highs recently amid weakness in financial stocks took the broader indices into red.

Key indices Frankfurt dropped 0.27 per cent while London FTSE down 0.02 per cent and Paris fell 0.12 per cent. (PTI)