Opening Bell: Sensex and Nifty leaps on first day of Diwali week

Janie Parker
October 17, 2017

With strong industrial output numbers and positive sentiment among domestic and global investors, the 50-share NSE index Nifty on Friday flew to a record close at 10,167 and the Sensex too hit off an over two-month high on heavy buying.

Almost 130 stocks rose to a fresh 52-week high on the BSE, in the opening trade of the Diwali week.

On this basis, the Sensex rose by 201 points to 32, 634, while the Nifty advanced 63 points to 10,200.

Mumbai: The BSE Sensex rose by 200.95 points to close at an all-time high of 32,633.64 as investor optimism climbed following encouraging comments from the International Monetary Fund chief.

The rupee appreciating 19 paise to 64.89 against the dollar today gave a leg to the rally.

Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 1.90 per cent.

Russian Federation on Israel's UNESCO decision: "US set poor example for Israel"
But the U.S. and Israel still retain other privileges as member states, which they will lose should they leave the organization. Also on Friday, France's former culture minister Audrey Azoulay was elected to head UNESCO in a cliffhanger vote.

Underlying inflation in the United States was muted at 0.2 percent in August, data showed on Friday. It rose 1.94 per cent for the week, its biggest such gain since the week ended July 14.

Upbeat second-quarter results pushed the shares of Tata Consultancy Services Ltd (TCS) to their highest since June 7.

Globally, markets remained weak with China's blue-chip CSI300 index falling 0.2 per cent to 3,913.45, while the Shanghai Composite Index lost 0.4 per cent to 3,378.47.

Major gainers in the 30-share index were Bharti Airtel (4.96%), Mahindra & Mahindra (2.99%), Tata Motors (2.85%), Hindustan Unilever (2.84%), Sun Pharmaceutical Industries (2.52%), and Cipla (2.42%).

Asian stocks held firm near a 10-year high on Friday thanks to expectations of brisk global growth, although investors held off chasing the shares higher ahead of United States and Chinese economic data as well as the Chinese Communist Party congress next week.

In Asia, Japan's Nikkei rallied for a sixth day to a level not seen since November 1996.

Other reports by TheDailyFarc

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