Tuesday, 27 December 2016
Sensex up 406 points, Nifty reclaims 8000, Stock market closing update
The benchmark indices on Tuesday closing at higher on the back of value buying in blue-chip stocks like Tata Steel , Adani Ports with Sensex trading over 406 points higher, while Nifty50 surged above 8,000 level.
All index stocks excluding GAIL end higher. Broader market rallied with the BSE Midcap and BSE Smallcap indices adding 1.71%, and 1.49%, respectively.
About 1679 shares advanced, 862 shares declined, and 193 shares were unchanged. The Nifty Bank snapped 3-day losing streak, closed with gains of over 1.2%. Adani Ports, Tata Steel, Lupin and Cipla are other gainers while GAIL, Hero MotoCorp, HDFC, Bharti Airtel and ONGC are losers in the Sensex.
The statement spelled out from Finance Minister Arun Jaitley advocating lower taxes in the economy weeks before the Union budget might help investors with some positive confidence that boosted to a great extent.