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profishingrods.com December 14, 2017


Bank stocks power Sensex, Nifty higher

08 December 2017, 09:17 | Regina Holmes

Bears lose grip as value-buying lifts Sensex 352 points

Stocks bounce back

The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said. Participants sensed value-buying opportunities after the equities' recent lacklustre run, making stock valuations attractive, according to market participants.

On the NSE market breadth, the Nifty50 provisionally closed (at 3.30 p.m.) higher by 122.60 points or 1.22 per cent at 10,166.70 points. It was followed by Urja Global (3.01 million), Unitech (1.81 million) and SRS (1.52 million).

The Reserve Bank's two-day monetary policy review kicked off on Tuesday.

Prominent gainers included Tata Motors, Bharti Airtel, Adani Ports, ICICI Bank, Axis Bank, Maruti Suzuki, ONGC, HDFC Bank, HDFC Ltd, Bajaj Auto, Wipro, TCS, Cipla and SBI, gaining up to 1.68 percent.

Key Indian equity indices on Thursday surged with appreciable gains led by robust buying in auto, consumer durables and capital goods stocks. Friday's rally has so far been structurally similar to that of Thursday's with the metal and PSU bank stocks gaining the most.




Foreign portfolio investors (FPIs) sold shares worth net Rs 1,075.62 crore yesterday, while domestic institutional investors (DIIs) bought to the tune of Rs 926.68 crore.

Major Asian indices closed higher.

Japan's Nikkei index is now up over 1 percent while gains remained modest elsewhere across Asia ahead of key data due from China and the United States.

In the Eurozone, key indices such as Paris CAC 40 and Frankfurt's DAX Performance Index were up by 0.32% and 0.55% in their early deals.



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