Nifty reclaims 10500, Sensex up 40 points in opening trade

31 December, 2017, 06:42 | Author: Kathy Ellis

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.

Back home, markets began the day on a flat note and traded in a narrow band for the first half of the trading session.

On the other hand, Tata Steel (1.78%), Dr Reddy'S Laboratories (1.30%), HDFC Bank (0.82%), Wipro (0.72%), Mahindra & Mahindra (0.44%), and Tata Power Company (0.43%) were the major gainers in the Sensex.

"Though the outlook on main indices is moderate in the short to medium-term, the broad market will maintain its vibrancy as businesses flourish", Vinod Nair of Geojit Financial Services, said.

Auburn alum Tim Cook tops $100 million in income for 2017
Cook's predecessor, the founder of Apple Steve Jobs had his own private jet that was gifted to him during 2000 by Apple . Adding $89.2 million in equity award , Cook brought home a whopping $ 102 million in 2017, minus compensations .

For the year, the Nifty has risen 28 percent, while the BSE index has climbed 27 percent. The benchmark had crossed the 34, 000 mark on December 26, riding on a rally of high closings the entire year.

Reliance Communications (RCom) today rose as much as 23%, after Mukesh Ambani's Reliance Jio announced yesterday that it will acquire RCom's wireless infrastructure assets, including towers and spectrum, at an estimated price of Rs 20,000-24,000 crore.The stock, however, 17.48% up on the NSE. However, the returns are lower than Hang Seng, which has gained 33 per cent.

The BSE Midcap and BSE Smallcap indices were up 0.41% and 0.62%, respectively.

"The concluding session of the year traded with a positive bias and eventually wrapped up the activity nearly at record close". The shares of M&M, PowerGrid, Sun Pharma rose, whereas the shares of Hero MotoCorp and Adani Ports fell. Japan's Nikkei shed 0.08%.

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