Published: Sun, December 31, 2017
Markets | By Josh Butler

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

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

The Sensex clocked its best performance in recent years in 2017, rising by 7,430.37, or 27.91 per cent year-on-year.

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. "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.

The index started the day at 33, 889.39 points and reached highest-ever 34,086.05 before closing at 34,056.83- this was an increase of 208.80 points, or 0.62 per cent in toto. The Sensex gained 28 percent or 7,430 points this year. Meanwhile, the broad based NSE Nifty fell by 12.85 or 0.12% at 10,477.90 with 29 components registering drop.

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Indian shares closed higher for the fourth straight session on Tuesday, led by. In the Sensex pack, Tata Motors saw the maximum gain of 3.06 per cent, followed by Axis Bank (2.74 per cent), TCS (2.72 per cent) and Hero MotoCorp at 2.38 per cent. Reliance Capital Ltd rose 4%, Reliance Infrastructure Ltd rose 1.8%, Reliance Naval and Engineering Ltd 4.3%, Reliance Power Ltd rose 4%.

Indices extended gains in the evening trade, with the Sensex trading above the psychological 34,000 mark on the last trading day of 2017. Reliance Industries Ltd rose 0.6% to Rs930.

Nifty IT and Nifty Auto indices climbed 1.47 and 1.28 per cent, respectively. Japan's Nikkei shed 0.08%. European markets were down in early trade with Paris CAC 40 falling 0.11 per cent, while Frankfurt's DAX shed 0.29 per cent. London's FTSE rose 0.27 per cent.

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