Sensex gains over 200 points, Nifty reclaims 10100

Emilio Banks
December 8, 2017

The NSE Nifty too was quoting 28.30 points, or 0.27 per cent, down at 10,099.45.

Both the benchmark indices surged more than a per cent.

The BSE Sensex hit a record high on Thursday as steps taken by the capital. As the Nifty consolidated itself above 10,100-mark through the day, stock market saw a fresh spell of positive sentiment with Sensex gaining more than a 100 points in the last hour of trading. Participants sensed value-buying opportunities after equities' recent lacklustre run, making stock valuations attractive, brokers said. "The Nifty would need to cross the previous intermediate high of 10,410 to reverse the current downtrend", he added.

Fall in crude oil prices: Sharp decline in crude oil prices in global commodities on Thursday also boosted investor sentiment in today's trade.

In the broader markets, the S&P BSE mid-cap index closed higher by 1.38 per cent and the small-cap index by 1.29 per cent.

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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.

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

Major losers were SBI, ICICI Bank, HDFC Bank, Axis Bank, HDFC Ltd, Maruti Suzuki, Bajaj Auto, Hero MotoCorp, Tata Steel, ITC Ltd and Wipro.

In the eurozone, key indices such as Paris CAC 40 and Frankfurt's DAX were up by 0.32 per cent and 0.55 per cent in their early deals. Among the Asian bourses, Hong Kong's Hang Seng was down 1.12 per cent while Japan's Nikkei shed 0.90 per cent.

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