Moneycontrol
Last Updated : Dec 28, 2018 04:40 PM IST | Source: Moneycontrol.com

An evening walk down Dalal Street | Solid start to new series, Nifty eyes 10,900; midcaps rise

At the close of market hours, the Sensex was up 269.44 points or 0.75% at 36076.72, while the Nifty was higher by 80.10 points or 0.74% at 10859.90.

Moneycontrol News @moneycontrolcom

It’s a consecutive session of positive close for the market on Friday. The Nifty has kicked off January series on a strong note, ending above 10,850-mark.

Strong global cues, weaker crude as well as strengthening rupee were some of the primary factors behind the market’s rally.

It was a gap-up start on the indices. But they lost some momentum during the session. Even in the last hour of trade, indices gave up some gains.

Buying counters were buzzing among all sectors, with maximum gains seen among banks, pharmaceuticals, metals, consumption and automobiles. The Nifty Midcap index ended with gains of a percent.

At the close of market hours, the Sensex was up 269.44 points or 0.75% at 36076.72, while the Nifty was higher by 80.10 points or 0.74% at 10859.90. The market breadth was narrow as 1546 shares advanced, against a decline of 1049 shares, while 163 shares were unchanged.

Sun Pharma, Vedanta, and Titan were the top gainers, while Coal India, TCS, and Bharti Infratel lost the most.

Stocks in the News:

HDFC Bank shares gained a percent after research house Emkay has maintained its buy call on the stock and expects to gain 18 percent to its price target to Rs 2,500 apiece.

Kansai Nerolac Paints shares gained a percent after the acquisition of construction chemical company.

Tata Steel BSL (earlier known as Bhushan Steel) shares rallied over 3 percent after CARE assigned AA rating for company's bank facilities.

Peninsula Land shares rallied 5 percent intraday Friday after the company signed agreement to acquire three firms which cater to real estate and construction segment.

Global Markets

European markets were higher Friday morning, following a volatile session for stocks where the Dow erased a 600-point drop to close positive. Stoxx 600 index was higher by 0.6 percent with all major bourses and sectors in positive territory.

Japanese stocks ended their trading year in negative territory on Friday.

The Nikkei 225 and Topix index both struggled for gains on the day: The former slipped 0.31 percent to close at 20,014.77 while the latter shed 0.5 percent to finish its trading week at 1,494.09.
First Published on Dec 28, 2018 03:48 pm
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