Nifty reclaims 10500, Sensex up 40 points in opening trade

BSE Sensex and NSE Nifty open higher on Thursday

The year has rewarded investors with a 28 per cent rise in the Sensex even as the market cap of all the listed companies on the BSE rose a whopping Rs 45 lakh crore to around Rs 1,51,73,867 crore.

The Sensex clocked its best performance in recent years, rising by 7,430.37, or 27.91% in 2017. This has been a remarkable year for Indian markets, " said Sameet Chavan of Angel Broking. "Expectation of a pick up in third quarter earnings and strengthening of rupee supported the sentiment", said Vinod Nair, Head of Research, Geojit Financial Services.

On the other hand, Sun Pharmaceutical Industries (6.89%), Dr Reddy'S Laboratories (1.71%), Mahindra & Mahindra (0.77%), Wipro (0.69%), Cipla (0.22%), and Hindustan Unilever (0.19%) were the major gainers in the Sensex.

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

Indices extended gains in late morning deals, with the Sensex trading above the psychological 34,000 mark after regaining the level in morning trade.

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The US stocks turned choppy during the trading session on Thursday, while the Dow reached a new record closing high.

Sector-wise, the rally was driven by telecom (up 1.63 per cent), power (1.46 per cent), teck (1.24 per cent), IT (1.20 per cent), auto (1.16 per cent), FMCG (0.85 per cent), consumer durables (0.85 per cent), infrastructure (0.83 per cent), capital goods (0.51 per cent), realty (0.46 per cent), bankex (0.36 per cent) and healthcare (0.18 per cent).

The BSE mid-cap and small-cap indices ended higher by 0.74%and 0.64%, respectively.

Today is the last session of December expiry in the derivatives segment. 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.

European markets were down in early trade with Paris CAC 40 falling 0.11%, while Frankfurt's DAX shed 0.29%.

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