Nifty recovers 122 points, ends above 10150-mark

by Susie Olson December 8, 2017, 0:03
Nifty recovers 122 points, ends above 10150-mark

At 10:38 AM, Sensex was down by 81.62 points to trade at 32,720.82 while Nifty fell 32.00 points to 10,086.25.

After a strong start at 32,968.02, the Sensex reclaimed the 33,000-mark to hit a high of 33,008.62 points but profit- booking at higher levels capped the gains. The benchmark BSE Sensex fell further by 100 points in early trade today due to selling in interest-sensitive stocks ahead of RBI's policy announcment later in the day. Meanwhile, the broad based NSE Nifty went up by 122.60 or 1.22% at 10,166.70 with 44 components registering rise.

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.

Aurobindo Pharma, Bajaj Auto, Tata Steel, Infratel, Maruti Suzuki, Asian Paints, UPL and Tech Mahindra climbed 3-5 percent. Benchmark Bank Nifty was also up by 205 points with both PSU and private banks contributing well.

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Among the sectoral indices on BSE, power and metal indices slipped 1.06 per cent and 0.85 per cent. Telecom, Bankex and oil & gas indices closed higher by 0.83 per cent, 0.38 per cent and 0.16 per cent, respectively.

"A weak dollar overseas capped the rupee losses", a dealer said.

On the currency front, the rupee weakened by 4-5 paise at 64.57-56 against the USA dollar from its previous close at 64.52. Most capital goods shares rose.

On the other hand, Coal India (0.64%), Tata Consultancy Services (0.52%), Cipla (0.50%), Wipro (0.34%), and Sun Pharmaceutical Industries (0.26%) were the biggest losers in the Sensex.


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