Good news: Sensex REGAINS 32k level on festive week

Business | Oct. 21, 2017, 12:04 p.m.

Mumbai, Oct 21: The BSE Benchmark started the holiday truncated week with heavy gains, as both indices made fresh highs on positive trade data and encouraging comments from the IMF chief on the outlook for Indian economy cheered investors. Sentiment was also cheerful ahead of Diwali festival.

However, after gaining a bullish momentum, the indices started consolidating on Tuesday, the Nifty ended almost flat while the Sensex ended in red and on Wednesday the Nifty observed some heavy distribution as it gained one distribution day, while the Sensex posted a loss of almost 25 points.

The Sensex and the Nifty, both, attained new record high levels during the week. Key indices declined marginally in two out of three trading sessions.

In the week ended on Wednesday, the Sensex rose 151.66 points or 0.47 percent to settle at 32,584.35. The Nifty 50 index rose 43.40 points or 0.43 percent to close at 10,210.85.

Broader indices also extended their gains this week, as the Nifty Midcap and the Smallcap indices advanced 0.94 per cent and 0.81 per cent, respectively.

Buying was led by oil&gas, realty, metal, power, FMCG, auto,healthcare,teck and capital goods sectors, well supported by second line shares of mid-cap and small-cap companies.

Selling were led by banking, IPO, IT and consumer durables counters.

The benchmark Sensex has gained 4,642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty rose 1,572.85 points, or 18.20 per cent during this period.

In a special Muhurat trading session on Thursday, benchmark Sensex surrendered initial rise to end over 194 pts down at 32,389.96 to mark the start of Hindu Samvat year 2074.

Banking stocks led the fall, as participants booked profits to write their first entry with gains on the first session of Samvat 2074.

The broader NSE Nifty too dipped below the 10,200-mark in the special one-hour Muhurat session.

The bourses remained closed on Friday for 'Diwali Balipratipada'. .

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