Sensex rises 100 points, Nifty above 10500, RCom shares gain over 30%

Metals capital goods stocks buoy equity markets

Metals capital goods stocks buoy equity markets

The Sensex and the Nifty ended higher on Friday, posting their biggest yearly gain in three, as strong foreign fund inflows, hopes of an improving economy and higher corporate earnings boosted investor confidence.

At 2:36 PM, the BSE Sensex was trading at 34,038, up 190 points, while the Nifty50 Index was ruling at 10,523, up 45 points.

The 10-year government bond (6.79% 2027) yield fell sharply by 1.58 percent or 11 basis points to 7.279 percent, from previous close.

The Sensex clocked its best performance in recent years, rising by 7,430.37, or 27.91% in 2017.

While the Sensex closed 208 points higher at 34,058 level, the Nifty rose 52 points to 10,530 tracking higher Asian market.

Liberia declares George Weah president-elect
Immediately after NEC chairman Jerome Korkoya read the final results, Weah's party headquarters erupted into celebration. Joseph Boakai in an address to the nation on Friday is offering to help Weah's new government if needed.

The 30-share BSE index made a modest gain of 63.24 points, or 0.18 per cent, at 33,975.05.

Vedanta Ltd rose as much as 2.7 percent, and was on track for a third straight session of gains.

Shares of Reliance Communications continued their rally for the fourth straight session Friday, ending 17 per cent higher after Mukesh Ambani stepped in to bail out the debt-ridden firm by acquiring spectrum, tower, optical fibre network and other assets.

Sector-wise, the rally was driven by telecom (up 1.63 percent), power (1.46 percent), teck (1.24 percent), IT (1.20 percent), auto (1.16 percent), FMCG (0.85 percent), consumer durables (0.85 percent), infrastructure (0.83 percent), capital goods (0.51 percent), realty (0.46 percent), bankex (0.36 percent) and healthcare (0.18 percent). S&P BSE Midcap and S&P BSE Smallcap indices have also surged 48% and 60%, respectively, this year.

Trading was thin across global markets on the last session of the year. Japan's Nikkei 225 has edged up 58 points, Hong Kong's Hang Seng has gained 54 points and China's Shanghai Composite has added 5 points. The CAC 40 of France slipped 0.55%, DAX of Germany lost 0.69%, while FTSE 100 of the United Kingdom closed above the neutral line.

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