Weekly review: Sensex rebound 417 points, Nifty above 10250

Weekly review: Sensex rebound 417 points, Nifty above 10250

The wider Nifty50 of the National Stock Exchange (NSE) rose by 98.95 points or 0.97 per cent to close at 10,265.65 points. Sustained buying in the trade on Thursday trade provided cushion to the indices that eventually led to both the Sensex and Nifty wrapping up the session with gains of over 1%.

On a weekly basis, the Sensex gained 417.36 points, or 1.27 percent, while the Nifty advanced 143.85 points, or 1.42 percent.

"Markets rallied higher on Friday after the sharp bounce back seen on Thursday".

Money managers believe that the focus will continue to be on the Gujarat polls in the days to come and is likely to keep the market on edge.

Bank stocks, in fact, fell on Wednesday after the RBI made a decision to keep the repo rate unchanged in its monetary policy review. This is its biggest single-day jump since May 25, when it had gained 149.20 points. The BSE FMCG index topped with a robust 2.23 percent rise, followed by metal 1.36 percent, healthcare 1.35 percent, consumer durables 1.15 percent, oil & gas 1.02 percent, auto 0.97 percent, bankex 0.92 percent and realty 0.72 percent. Bharti Airtel, Tata Motors and Maruti were the top gainers on Sensex.

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 4,161.22 crore during the week, as per Sebi's record including the provisional figure of December 08.

However, among the laggards stood pharmaceutical majors Sun Pharma, Cipla, and IT companies like Wipro, TCS, in addition to the state-run Coal India.

Most Asian and European markets rallied as investors awaited major economic data from China and the U.S. amid overnight gains at Wall Street following reports that President Donald Trump is planning to unveil a big-spending public works plan.

The index finally ended at 32949.21, up 352.03 points, or 1.08 per cent - its biggest single-day gain since November 1, when it had surged 387.14 points. London's Financial Times Stock Exchange too was up 0.24%.

Related Articles

  • UK YouTuber cements a microwave to his head - Fire service not impressed

    UK YouTuber cements a microwave to his head - Fire service not impressed

    The group had already spent an hour and a half trying to free the YouTuber before deciding to call the emergency services. For more than 90 minutes, his friends tried to free him, feed air into his mouth via a tube to keep him from suffocating.
    Qualcomm makes the Snapdragon 845 processor official

    Qualcomm makes the Snapdragon 845 processor official

    Both devices will ship with Windows 10S, but ASUS and HP are offering free upgrades to Windows 10 Pro before September 30, 2018. That's not all as standy time is quoted at 700 hours and HP says you can get 0-90 percent charge in just 90 minutes.
    Three Super Moons to Be Observed between December and January

    Three Super Moons to Be Observed between December and January

    The only supermoon of the year is slated for December 3, 2017, at precisely 15:47 UTC, according to EarthSky.org. Skywatchers and stargazers have three opportunities to see a supermoon between Sunday and January 31.
  • Hue Jackson comments on Browns after exit of Sashi Brown

    Hue Jackson comments on Browns after exit of Sashi Brown

    It has become commonplace to see a firing of Browns personnel after disappointing seasons dating back to their return in 1999. Dorsey had been with the Chiefs for the last four years and had spent 22 years with the Packers organization.
    Google pulls YouTube from Amazon Fire TV, Echo Show

    Google pulls YouTube from Amazon Fire TV, Echo Show

    Not only the removal of Nest's products, but Google is also miffed over Amazon's continued ignorance of Google Home or Chromecast. Sans YouTube, Amazon looks to be banking on its in-house services and against the Chcolate Factory's built-in customer base.
    Capcom will release Mega Man 11 in 2018

    Capcom will release Mega Man 11 in 2018

    If you're up to date on memes, the Mega Man X games are the same series that gave us " WHAT AM I FIGHTING FOOOOOOOOOOOOR?! ". The PlayStation 4 , Xbox One , and PC versions of the collection will receive an update to add this feature.
  • LiAngelo and LaMelo Ball signing with agent, will turn professional

    LiAngelo and LaMelo Ball signing with agent, will turn professional

    Ball called it "The Trump Dunk" and told the president to stay in his lane all while mentioning Trump's personal Twitter account. LiAngelo Ball's outspoken father, Lavar Ball , told ESPN he chose to pull his son out of UCLA .
    Russians can compete at Olympics, but without flag — IOC

    Russians can compete at Olympics, but without flag — IOC

    The commission noted that the McLaren Report did not mention that the Russian Olympic Committee (ROC) participated in the system. If it was a victory to have the word "Russia" in the team name and invite some Russian athletes to compete, it came at a cost.
    LiAngelo Ball will leave UCLA: Dad says, 'He's out of there'

    LiAngelo Ball will leave UCLA: Dad says, 'He's out of there'

    It's doubtful that LiAngelo Ball can land a big contract in Europe, but there might be some teams willing to sign him. The three players were subsequently suspended indefinitely by the team after returning to the United States.
  • Franken Resigns In Emotional Speech, Denies Some Allegations

    Franken Resigns In Emotional Speech, Denies Some Allegations

    The "Me too" movement has claimed another scalp with a leading Democratic Senator and former TV star Al Franken forced to resign. Tim Walz and Collin Peterson both called for Franken to resign, as did Senate Majority Leader Mitch McConnell.
    Amazon's Prime Video app now works with Apple TV

    Amazon's Prime Video app now works with Apple TV

    On the iTunes store, the iOs app has been updated to version 5.0, bringing support for the iPhone X as well as universal search. Apple TV users have always been demanding the app, but the unstable relationship between the two companies delayed the process.
    United Nations  official to arrive in N.Korea for talks

    United Nations official to arrive in N.Korea for talks

    But Dujarric would not say if Feltman would meet with North Korean leader Kim Jong Un during his trip. Feltman, a former American diplomat who spent more than three decades at the U.S.