Published: Thu, January 12, 2017
Research | By Elizabeth Houston

Sensex reclaims 27000, Nifty settles above 8350; Metal stocks gain

The broader NSE Nifty 50 closed 92.05 points higher at 8380.65 points.

The Sensex resumed higher at 26,978.44 and quickly breached the 27,000-mark to hit a high of 27,174.87 before winding up at 27,140.41, scoring a notable rise of 240.85, or 0.90 per cent. The US Dow Jones Industrial Average ended 0.16 per cent down in Tuesday's trade.

In terms of investments, provisional data with exchanges showed that the foreign institutional investors (FIIs) sold stocks worth Rs 325.10 crore, whereas the domestic institutional investors (DIIs) purchased scrip worth Rs 96.82 crore.

While the Sensex and Nifty reclaim their crucial levels, Deutsche Bank report forecasts Indian equity markets to move in a narrow range during the year while the benchmark Sensex to touch 29,000 by the end of 2017. Mid-caps were up by 170 points and small-caps were up by more than 123 points.

The Nifty is trading at 8,327.25 points in the morning.

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Sector-wise, the S&P BSE IT index surged by 58.09 points, followed by the FMCG index which rose by 47.47 points, and the banking index which edged up by 21.22 points.

The Sensex is trading at 27,014.23 points up by 114.67 points or 0.43 per cent. Bankex and Metals surged nearly 500 points each.

Globally, Asian stocks ended higher with Japan's Nikkei rising 0.33 pc, while Hong Kong's Hang Seng gained 0.84 pc.

Top losers in the Sensex-30 pack: Bajaj Auto (down 1.1 per cent), ITC (down 0.8 per cent), Reliance Industries (down 0.5 per cent), Wipro (down 0.3 per cent), and Infosys (down 0.2 per cent).

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