Sensex soars 301 points to reclaim 33000-mark

Sensex ends lower ahead of RBI's monetary policy decision

Mumbai: Unabated buying by domestic institutions propelled the benchmark Sensex beyond the 33,000-mark on Friday, with FMCG stocks securing a podium finish.

The broader NSE Nifty too slipped by 9.50 points, or 0.09%, to end at 10,118.25, after moving between 10,069.10 and 10,147.95.

"The buying momentum in Indian markets was given a boost by hopes that the ruling BJP would win the critical state elections in Gujarat, which would lay the groundwork for the general elections in 2019".

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

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.

Overseas, the Asian markets saw the shares of most of the companies decline, since investors across the globe have an eye on the final tax legislation in the USA, where policy uncertainty kept sentiment in check.




Prominent gainers included Tata Motors, Bharti Airtel, Adani Ports, ICICI Bank, Axis Bank, Maruti Suzuki, ONGC, HDFC Bank, HDFC Ltd, Bajaj Auto, Wipro, TCS, Cipla, and SBI, gaining up to 1.68%.

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.

All the 19 sub-indices of the BSE ended in the positive territory, led by the S&P BSE FMCG index, which augmented by 2.23 per cent, followed by the metals index by 1.36 per cent and the auto index.

Asian markets retreated, with Japan's Nikkei falling 0.37%, Hong Kong's Hang Seng declining 1.01% and Shanghai Composite Index finishing 0.18% lower.

In keeping with the overall trend, the small-cap and mid indices rose 1 percent and 0.89 percent. Paris CAC fell 0.29% and Frankfurt's DAX shed 0.13%.

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