Market snaps 5-day losing streak led by realty, banking and metal
At close, the Sensex was up 498.58 points or 0.64% at 78,540.17, and the Nifty was up 165.95 points or 0.70% at 23,753.45.
Key Indian equity indices traded with gains during the mid-afternoon session on Friday with healthy buying in auto, capital goods and consumer durables stocks.
The barometer 30-scrip Sensitive Index (Sensex) reclaimed the important 34,000-level to touch a high of 34,031.26 points during the intra-day trade.
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Around 12.40 p.m., the Sensex, which opened at 33,889.39 points, traded at 33,992.93 points — up 144.90 points or 0.43 per cent — from its previous session’s close.
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The BSE market breadth indicated a bullish trend as 1,577 stocks advanced as compared to 989 declines.
On the National Stock Exchange (NSE), the broader Nifty50 traded higher by 32.80 points or 0.31 per cent at 10,510.70 points.
In another development, stocks of Reliance Communications (RCOM) surged by almost 34 per cent to a high of Rs 41.77 per share on the BSE after Reliance Jio Infocomm (RJIL), a subsidiary of Reliance Industries Limited, on Thursday announced signing of a “definitive agreement” for the acquisition of specified assets of RCOM and its affiliates.
It currently traded higher by 12.73 per cent at Rs 34.90 per scrip.
“Markets opened positive on the last trading day of the year 2017. RCOM surged over 30 per cent to Rs 41 after RJIL on Thursday said it will buy a majority of the wireless assets of RCOM,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“BSE rose four per cent after Sebi on Thursday approved amendments to the Stock Exchange and Clearing Corporation Regulations to allow all exchanges to offer trading in all segments such as commodities, equities, currency and debt from October 2018,” he added.
On Thursday, the benchmark indices — amid volatility — closed on a flat note with marginal losses as caution prevailed on the day of derivatives expiry.
The Nifty50 slipped by 12.85 points or 0.12 per cent to close at 10,477.90 points, while the Sensex closed at 33,848.03 points — down 63.78 points or 0.19 per cent.
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