IT

Sensex scales new high; signs off 2017 with 28 per cent gains

Sensex scales new high; signs off 2017 with 28 per cent gains

At the close, the benchmark 30-share index, BSE Sensex declined 98.80 or 0.29% at 33,911.81 with 23 components posting drop. Trading may remain volatile during the latter part of the day as traders roll over positions in the futures & options (F&O) segment from the near month December 2017 series to January 2018 series.

It has been an upbeat year for the markets.

While the implementation of the GST caused short-term disruptions, investors feel the government will stay firm on its reforms agenda, backed by the BJP's strong showing in Gujarat and Himachal Pradesh assembly elections, brokers said. The Sensex clocked its best performance in recent years, rising by 7430.37, or 27.91 per cent. In the Sensex pack, Tata Motors saw the maximum gain of 3.06 per cent, followed by Axis Bank (2.74 per cent), TCS (2.72 per cent) and Hero MotoCorp at 2.38 per cent. "Rich valuation and lack of fresh triggers may lead the market to a consolidation phase", said Vinod Nair, Head of Research, Geojit Financial Services.

Child playing with stove burners started deadly NYC blaze, official says
Officials said on Friday the fire started when a three-year-old boy was playing with a stove inside of a first-floor apartment. He was staying with a family that escaped the fire safely, but no one could find Mensah, despite checking four hospitals.

"Focus on upcoming Union Budget and government's reforms will direct investors to turn sector/stock specific".

Broader markets echoed the festive sentiment with the BSE Midcap index closing 130 points or 0.74 per cent higher at 17,822.40 and the Smallcap index adding 121 points or 0.64 per cent at 19,232.72.

The 50-share NSE Nifty also ended down 12.85 points, or 0.12 per cent, at 10,477.90.

Turkey, Russia finalize deal on anti-missile defense system
Turkey will have to pay $1.125 Billion as cash for the S-400 purchase (45 per cent of $2.5 billion). The move has alarmed Turkey's North Atlantic Treaty Organisation allies amid tensions with Moscow.

The gains in India's two key indices are higher than the Dow Jones, which has risen over 25 per cent. Indices in Europe have risen 6-10 per cent.

In four days, shares of the company have zoomed 122% adding Rs 5,506.76 crore to its market capitalisation. Reliance Capital Ltd rose 4%, Reliance Infrastructure Ltd rose 1.8%, Reliance Naval and Engineering Ltd 4.3%, Reliance Power Ltd rose 4%. With key realty stocks posting strong gains, the BSE Realty index surged almost 3 percent. The December 2017 derivatives contracts expire today, 28 December 2017. Globally, Hong Kong's Hang Seng rose 0.42 per cent while Japan's Nikkei up 0.25 per cent in early trade.

"The concluding session of the year traded with a positive bias and eventually wrapped up the activity nearly at record close".

Coldest air in 2 years is freezing the city
Lows will stick in the mid teens since clouds will stick around overnight and through the morning. Temperatures will finally warm to near or above freezing across the central and western Ozarks.


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