Nifty makes history, closes above 10,000-mark

Nifty makes history, closes above 10,000-mark

Nifty makes history, closes above 10,000-mark
It was another record breaking day for the benchmark Indian indices, especially for the Nifty, which finally managed to close above the coveted 10,000-mark.

While the S&P BSE Sensex closed up 154.19 points (0.48%) at 32,382.46, a closing high, the Nifty 50 ended up 56.10 points (0.56%) at 10,020.65.

 “Positive global cues supported indices at higher levels, prodding the benchmark Sensex and the Nifty to finally close the day with gains of over 0.25%. Globally, investors are also a bit cautious as they await the outcome of a two-day US Federal Reserve’s policy meeting scheduled for late Wednesday,” BNP Paribas Mutual Fund senior fund manager- equities Karthikraj Lakshmanan said.

 Markets will be watching for any indication of another possible rise in the benchmark lending rate in 2017, and on when the Fed will begin winding down its multi-trillion-dollar investment holdings, Lakshmanan added.

 Advances and declines were nearly equal on the NSE with 843 out of 1,755 securities advancing, 838 declining and 74 remaining unchanged. As far as most active securities in terms of value, YES Bank was the leader followed by JP Associates, HDFC, RIL, ICICI Bank and KPIT. In terms of volumes, JP Associates led the list followed by Suzlon, Unitech, Lanco Infratech, KPIT and JP Power. A total of 77 securities hit new 52 week highs while 20 hit new 52 week lows on NSE.

YES Bank was the top gainer on Nifty 50, ending at a new high of Rs 1,722, up 6.44% with volumes of over 85.49 lakh shares after the bank’s profitability beat analyst estimates. Other major gainers included IndusInd Bank, Tata Steel, Vedanta, Cipla, Sun Pharma, Eicher Motors and ICICI Bank. As far as losers are concerned, Axis Bank topped the list, ending down 3.32% at Rs 526.85 after the bank’s earnings missed analyst estimates. Some of the other losers included Zee, Ambuja Cements, Asian Paints, ACC, Bank of Baroda and HCL Tech.
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