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Sensex surges 246 points, Nifty above 10200

Sensex surges 246 points, Nifty above 10200

Here are the key highlights, which will affect the market today.

The Nifty also resumed the week higher at 10,175.05 and traded in the range of 10,270.85 and 10,033.35 to finish at 10,265.65, showing a rally of 143.85 points, or 1.42 percent. On a closing basis, the BSE Sensex surged 0.91 per cent to 33,250.30 points.The BSE market breadth was bullish - 1,584 advances and 1,116 declines.

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.

The gauge had rallied 352.03 points Thursday.

The broader market, midcap shares outsmarted the smallcap stocks with substantial gains. The Nifty closed the week with 1.4 per cent gain. This is its biggest single-day jump since May 25, when it had gained 149.20 points.

However, value-buying in several heavyweights towards the fag-end trimmed the losses, with the index finishing at 32,802.44, down 67.28 points or 0.20%.

The stocks of state-run oil marketing companies such as like Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited and Indian Oil Corporation recorded gains of up to 1.83% after global crude prices dropped by almost 3% to trade below $63 a barrel. Bharti Airtel, Tata Motors and Maruti were the top gainers on Sensex.

However, among the laggards stood pharmaceutical majors Sun Pharma, Cipla, and IT companies like Wipro, TCS, in addition to the state-run Coal India.

The week started with stocks specifics minor gains while caution loomed due to two-day RBI monetary policy review meet along with fresh macro concerns like Services activity slippage and cut in Fitch ratings impacting the trading momentum. All the sectoral indices also ended in the green.

Domestic institutional investors were net buyers as they bought shares worth Rs926.68 crore on Thursday, while foreign portfolio investors offloaded equities amounting to Rs1,075.62 crore, provisional data showed. The index posted its biggest weekly gain since early November, climbing 1.27 percent this week. European shares too were in the positive zone in their early deals, with Frankfurt's DAX rising 1.29% and Paris CAC 40 up 0.73%.

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