Sensex, Nifty rally; TCS, Tata Motors gain

Stock markets

Stock markets

At 2:36 PM, the BSE Sensex was trading at 34,038, up 190 points, while the Nifty50 Index was ruling at 10,523, up 45 points. The 10-year bond yield was at 7.402%, a level last seen on July 2016, compared to its previous close of 7.396%. "Expectation of a pick up in third quarter earnings and strengthening of rupee supported the sentiment", said Vinod Nair, Head of Research, Geojit Financial Services.

Nifty closed at 10,530.70 points, up 0.5%, while Sensex gained 0.62% to close at 34,056.83 points today.

The US stocks turned choppy during the trading session on Thursday, while the Dow reached a new record closing high.

For the year, the Nifty has risen 28 percent, while the BSE index has climbed 27 percent.

In four days, shares of the company have zoomed 122% adding Rs 5,506.76 crore to its market capitalisation. In the Sensex pack, Tata Motors saw the maximum gain of 3.06 per cent, followed by Axis Bank (2.74 per cent), TCS (2.72 per cent) and Hero MotoCorp at 2.38 per cent. However, the returns are lower than Hang Seng, which has gained 33 per cent.

Sector-wise, the rally was driven by telecom (up 1.63 per cent), power (1.46 per cent), teck (1.24 per cent), IT (1.20 per cent), auto (1.16 per cent), FMCG (0.85 per cent), consumer durables (0.85 per cent), infrastructure (0.83 per cent), capital goods (0.51 per cent), realty (0.46 per cent), bankex (0.36 per cent) and healthcare (0.18 per cent).

Asian markets were firm, with MSCI's broadest index of Asia-Pacific shares outside Japan inching up 0.3 per cent.

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 CAC 40 of France slipped 0.55%, DAX of Germany lost 0.69%, while FTSE 100 of the United Kingdom closed above the neutral line.

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