Sensex Spikes Nearly 400 Points, Nifty Above 10,800: 10 Things To Know

NDTV Profit Team

27 Dec 2018, 09:57 AM IST

Heavyweights Reliance, Yes Bank, Vedanta and Sun Pharmacontributed the most to the gains on the Sensex.

Top gainers on the 50-scrip index were Tata Consultancy (TCS), Reliance, IndiaBulls Housing Finance, Infosys and Tech Mahindra, trading between 1.50 per cent and 2.06 per cent higher.
Heavyweights Reliance, Yes Bank, Vedanta and Sun Pharma contributed the most to the gains on the Sensex.
At 9:55 am, the 30-share Sensex traded at 35,910.97, up 261.03 points or 0.73 per cent from the previous close, and the Nifty was at 10,803.70, up 73.85 points or 0.69 per cent.
Global investor sentiment was boosted after White House economic advisor Kevin Hassett, in a television interview, assured that US President Donald Trump had no intention of firing the chairman of the Federal Reserve Jerome Powell, analysts were quoted as saying in a news agency Press Trust of India report. MSCI's broadest index of Asia-Pacific shares outside Japan inched 0.07 per cent higher.
According to analysts, global sentiments will continue impacting domestic equities in near future. "Markets will track global sentiment and till the general elections next year, we may not see huge movements either side," said Mugilan K, Deputy Manager of Research, Cholamandalam Securities. "We expect Nifty to remain in 10,400-11,000 levels in the near term," he said.
The rupee, meanwhile, weakened against the US dollar on Thursday, and was trading at 70.27 a dollar, down 0.27 per cent from its previous close. Brent crude, the international benchmark, was down 1.18 per cent at $54.64 per barrel.
On the other hand, derivatives expiry for the month of December is scheduled to be released by the end of Thursday's session.
The government is set to release Rs 28,615 crore towards a fresh tranche of state-run bank recapitalisation before the year-end, news agency Reuters reported citing sources. This is part of a plan to inject a total of 2.11 lakh crore rupees into state-run lenders in a bid to tackle a record bad debt problem.
On Wednesday, Reserve Bank of India (RBI) named former governor Bimal Jalan as the head of the expert panel that will decide on the appropriate size of reserves that the central bank should maintain and the dividend it should give to the government.
On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 80.28 crore on Wednesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 137.63 crore, provisional data available with BSE showed, as reported by news agency Press Trust of India. (With inputs from agencies)