Published: Sun, March 19, 2017
Sport | By Scott Davis

Markets consolidate at higher levels

Markets consolidate at higher levels

Nifty was able to sustain 9150 levels.

The NSE index rose to a record 9,158.45 (intra-day) before ending the day at a new closing high of 9,153.70, up 68.90 points, or 0.76 per cent, breaching its previous record of 9,087 on March 14.

The NSE Nifty slipped by 2.20 points or 0.02 per cent, to close at 9,084.80 points, while the BSE Sensex was marginally down 44.52 points or 0.15 per cent at 29,398.11 points.

The new-found optimism spurred stocks to new levels as the Nifty ended at a new peak of 9,160 today and the Sensex notched up minor gains, with liquidity keeping confidence level high.

Advances outnumbered declines almost 3:1 on the NSE with 1,153 securities out of a total of 1,741 advancing, 490 declining and 98 remaining unchanged.

The Fed lifted its interest rates by 25 basis points to a range of 0.75 per cent to 1.00 per cent, but said further increases would only be "gradual".

Asian stocks extended their previous climb.

The holiday-truncated eventful week saw the traders eagerly awaiting poll-outcome in five-states, while BJP's landslide victory in UP and impressive show in rest other states generated direct bearing on country's financial markets including rupee appreciating to multi-month highs as well as shares performing to the optimal. "European indices like FTSE 100, CAC 40 and DAX too traded higher".

In the forex market, the rupee opened at 65.45 against the US dollar, down 4 paise from its previous close of 65.41.

Some of the top stocks that gained on Friday were ITC, Infosys, Wipro, HCL Tech, Martui Suzuki and Axis Bank while some of the key stocks that declined were Bharti Airtel, Idea Cellular, SBI, Bank of Baroda, MM, ICICI and Larsen Toubro.

Buying was witnessed across the spectrum led by Realty, FMCG, Consumer Durables, Capital Goods, Power, Metal, Banks, Auto, HealthCare, IT, PSUs, Oil and Gas and Teck sectors, well supported by shares of Midcap and SmallCap companies.

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