Sensex soars 301 points to reclaim 33000-mark

Sensex ends lower ahead of RBI's monetary policy decision

Stocks bounce back

The Sensex started the week higher at 33,968.02 and hovered between 33,285.68 and 32,565.16 before ending the week at 33,250.30, showing a gain of 417.36, or 1.27 percent.

The Sensex had touched an alltime high of 33865.95 on November 7 and Nifty had hit a record high of 10490.45 on November 6.

"Markets rallied higher on Friday after the sharp bounce back seen on Thursday". The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said. This is its biggest single-day jump since May 25, when it had gained 149.20 points. The index had rallied 352.03 points in the previous session on value-buying by investors in recently-battered blue-chip stocks.

In the Sensex pack, with Sun Pharmaceutical, Tata Motors, Bharti Airtel, Hindustan Unilever and ITC all gaining more than 2% each.

However, Coal India fell by 2.75 percent, followed by Hero Motoco 2.60 percent, Wipro 2.14 percent, Dr Reddy 2.03 percent, M&M 1.44 percent and TCS 1.12 percent.

Overseas, the Asian markets saw the shares of most of the companies decline, since investors across the globe have an eye on the final tax legislation in the United States, where policy uncertainty kept sentiment in check.

All the 19 sub-indices of the BSE ended in the positive territory, led by the S&P BSE FMCG index, which augmented by 2.23 per cent, followed by the metals index by 1.36 per cent and the auto index. Additionally, investors were also on edge in anticipation of a violent backlash in the Middle East following US President Donald Trump's recognition of Jerusalem as Israel's capital.

Domestic institutional investors (DIIs) were net buyers as they bought shares worth Rs 926.68 crore on Thursday while foreign portfolio investors (FPIs) offloaded equities amounting to Rs 1,075.62 crore, provisional data showed.

Major Asian indices closed higher.

European shares too were in the positive zone in their early deals, with Frankfurt's DAX rising 1.29 percent and Paris CAC 40 up 0.73 percent. London's FTSE was up 0.27%.

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