Mumbai Dec 29 (IANS) Key Indian equity indices on Friday closed the last trading day of calendar year 2017 on a higher note as positive global cues along with a strong rupee and healthy buying in auto IT and consumer durables stocks gave a boost to investors sentiments.
On a closing basis the broader Nifty50 of the National Stock Exchange (NSE) rose by 52.80 points or 0.50 per cent to 10 530.70 points.
The barometer 30-scrip Sensitive Index (Sensex) reclaimed the important 34 000-level and closed at 34 056.83 points -- up 208.80 points or 0.62 per cent -- from its previous session s close.
The BSE market breadth indicated a bullish trend as 1 562 stocks advanced as compared to 1 213 declines.
"Markets surged higher on Friday after two sessions of negative closings. It was the first trading session of the January 2018 derivative series and it was the last trading session of the year 2017 " Deepak Jasani Head Retail Research HDFC Securities told IANS.
"The rally came on the back of positive global cues. Broad market indices like the BSE mid-cap and small-cap indices gained more thereby outperforming the main indices " he added.
The S&P BSE mid-cap index closed higher by 0.74 per cent and the small-cap index by 0.64 per cent.
Vinod Nair Head of Research Geojit Financial Services said: "Market surprised the investors with a positive note on the final trading day of 2017. Expectation of a pick up in third quarter earnings and strengthening of rupee supported the sentiment."
"Focus on upcoming union budget and government s reforms will direct investors to turn sector/stock specific. We feel that though the outlook on main indices is moderate in the short to medium-term the broad market will maintain its vibrancy as businesses flourish " he added.
On the currency front the Indian rupee strengthened by 21 paise to close at 63.87 against the US dollar from its previous close at 64.08.
Provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 595.04 crore while domestic institutional investors bought stocks worth Rs 461.37 crore.
Sectorwise the S&P BSE auto index rose by 306.74 points followed by consumer durables index by 191.32 points and IT index by 134.27 points.
On the other hand the S&P BSE oil and gas index fell by 75.45 points metal index by 66.12 points and energy index by 12.46 points.
Major Sensex gainers on Friday were: Tata Motors up 3.06 per cent at Rs 431.20; Tata Motors (DVR) up 2.99 per cent at Rs 244.80; Axis Bank up 2.74 per cent at Rs 562.40; Tata Consultancy Services up 2.72 per cent at Rs 2 700.40; and Hero MotoCorp up 2.38 per cent at Rs 3 802.
Major Sensex losers were: Dr. Reddy s Lab down 0.71 per cent at Rs 2 414.40; Reliance Industries down 0.36 per cent at Rs 921.05; Tata Steel down 0.30 per cent at Rs 732.45; Bharti Airtel down 0.20 per cent at Rs 530; and HDFC Bank down 0.19 per cent at Rs 1 871.
--IANS
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