Markets rally on value-buying, Sensex surges 352 points

Posted December 08, 2017

The Sensex is trading at 31,740.12 points down by 62.32 points or 0.19 per cent from its Tuesday's close at 32,802.44 points.

Broader markets rallied with BSE Midcap index adding 231 points or 1.38 per cent to end at 16,893.61 and Smallcap index closing at 18,031.24, up 1.29 per cent or 230 points.

The benchmark BSE Sensex on Thursday shaped up by rebounding over 352 points as investors hunted for bargains in recently battered bank, automobiles and metal stocks.

The 30-share index was trading lower by 78.86 points or 0.24 per cent at 32,723.58 at 1045hrs.

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Domestic institutional investors bought shares worth Rs 995.11 crore, while foreign funds sold shares to the tune of Rs 1,217.92 crore on Wednesday, provisional exchange data showed.

The index had lost 205 points on Wednesday after the Reserve Bank held the policy rate and raised the inflation forecast for the remainder of the financial year.

On the NSE, 1,273 shares advanced, 473 declined, while 60 remained unchanged.

Major index gainers were GAIL, Bharti Airtel, Tech Mahindra, UPL, Asian Paints, Maruti, Bharti InfraTel, Tata Steel and Bajaj Auto.

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The rupee's weakness against the dollar too dampened the overall mood.

Defying the bullish spirit were index heavyweights such as TCS (down 0.52 per cent), Coal India (down 0.64 per cent), Cipla (down 0.50 per cent), Sun Pharma (down 0.26 per cent) and Wipro (down 0.34 per cent).

Among other Asian markets, Hong Kong's Hang Seng was down 0.39 per cent while Japan's Nikkei shed 0.42 per cent in early session today.

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