Sensex, Nifty Post Best Annual Gains In Three Years
Indian equity benchmarks rose to record closing highs on the last trading day of 2017 led by gains in Axis Bank, Tata Motors and TCS.
The S&P BSE Sensex rose 0.6 percent or 209 points to 34,057 and the NSE Nifty 50 Index advanced 0.5 percent to 10,532. The benchmarks posted their best annual gains in last three years in 2017. The Sensex rose 27.9 percent and the Nifty advanced 28.7 percent.
The gauge of mid and small-cap stocks rose a whopping 47.3 percent and 57.2 percent each respectively.
In today's session, sixteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Telecom Index's 1.5 percent jump. On the other hand, the S&P BSE Metal Index was the top sectoral loser, down 0.6 percent.
Fab Four Stocks Of The Day
- GTPL Hathway: The broadband and television service provider rose as much as 5.2 percent to Rs 165.70 after it hiked stake in two subsidiaries.
- Astron Paper: Shares of Astron Paper & Board Mill made a strong debut on stock exchanges. The stock rose as much as 139 percent to Rs 119.70 against its issue price of Rs 50. The Rs 70 crore Astron Paper's IPO saw huge demand for its shares as it was subscribed 243 times.
- Tehno Electric And Engineering: The heavy electrical equipment maker rose as much as 4.3 percent to Rs 422.45 after it received EPC order worth Rs 206 crore from Afghanistan.
- Dredging Corp: Shares of Dredging Corporation rose as much as 12 percent to Rs 887 after Kedia Securities run by well-known investor Vijay Kedia bought 1.75 lakh shares (0.6 percent equity) at Rs 790.92 per share.
Amulya Leasing & Finance Locked In 5% Upper Circuit
Amulya Leasing & Finance was locked in upper circuit of 5 percent at Rs 624 after its promoter Sameer Gupta sold his entire 35.19 percent stake in the company through an open market transaction.
April-Nov Budget Deficit At Rs 6.12 Lakh Crore
The Indian government breached its fiscal deficit target for the current year in the April-November period, showed data released by the Controller General of Accounts on Friday.
Fiscal deficit, or the gap between the government's earnings and spending, reached Rs 6.12 lakh crore. That’s 112 percent of budgeted gap for 2017-18. In the same period last year, the government had exhausted 85.8 percent of the fiscal deficit target.