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Sensex Jumps Over 250 Points, Nifty Tops 12,200

Written by Taasir

Taasir English News Network | Uploaded on 27-Dec-2019

Domestic share markets clocked firm gains on Friday with the benchmark index S&P BSE Sensex soaring more than 250 points. The Sensex index rose as much as 289.78 points to touch 41,453.54 on the upside in morning deals and the broader NSE Nifty benchmark climbed to as high as 12,212.50, up 85.95 points from the previous close. Gains across sectors – led by banking, energy, auto and metal shares – pushed the markets higher. Analysts expect high volumes as traders build positions in the derivatives (futures & options) contracts of January series which begins today. At 9:50 am, the Sensex traded 267.08 points – or 0.65 per cent – higher at 41,430.84, while the Nifty was up 74.10 points – or 0.61 per cent – at 12,200.65.

Forty three stocks on the 50-scrip index moved higher at the time. Top percentage gainers were SBI, Zee Entertainment, Power Grid, Axis Bank and Bharat Petroleum, trading between 1.65 per cent and 2.44 per cent higher. On the other hand, JSW Steel, TCS, Wipro, Tata Steel and Britannia – down between 0.27 per cent and 0.85 per cent – were the top Nifty losers.HDFC, Reliance Industries and ICICI Bank were the top contributors to the gain in Sensex, together accounting for a more than 120-point rise in the index.

Equities in other Asian markets rose to an 18-month high, as investor optimism was boosted by hopes a US-China trade deal to be signed soon. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.55 per cent to a level not seen since mid-2018, up about 16 per cent so far this year. Japan’s Nikkei was flat, but on track for a near 20 per cent rise this year, its biggest annual increase since 2013.

Traders returned from their Christmas and Boxing Day break to digest comments from Beijing that it was in close contact with Washington about an initial trade agreement, shortly after US President Donald Trump talked up a signing ceremony for the recently struck Phase 1 trade deal.The Sensex finished the December series of derivatives contracts 0.08 per cent higher.The S&P BSE Sensex index had ended 297.50 points – or 0.72 per cent – lower at 41,163.76 on Thursday, and the broader NSE Nifty settled at 12,126.55, down 88.00 points – or 0.72 per cent – from the previous close.

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