Sensex, Nifty record biggest annual gain since 2014

At 2:36 PM, the BSE Sensex was trading at 34,038, up 190 points, while the Nifty50 Index was ruling at 10,523, up 45 points.

On the other hand, Sun Pharmaceutical Industries (6.89%), Dr Reddy'S Laboratories (1.71%), Mahindra & Mahindra (0.77%), Wipro (0.69%), Cipla (0.22%), and Hindustan Unilever (0.19%) were the major gainers in the Sensex.

The Sensex clocked its best performance in recent years in 2017, rising by 7,430.37, or 27.91 per cent year-on-year.

While the Sensex closed 208 points higher at 34,058 level, the Nifty rose 52 points to 10,530 tracking higher Asian market. It had gained 508.92 points, or 1.94%, last year. The indices logged biggest yearly gains in three years as strong foreign fund inflows, hopes of an improving economy and higher corporate earnings boosted investor confidence.

The US stocks turned choppy during the trading session on Thursday, while the Dow reached a new record closing high.

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In four days, shares of the company have zoomed 122 percent adding Rs 5,506.76 crore to its market capitalisation. In the Sensex pack, Tata Motors saw the maximum gain of 3.06 per cent, followed by Axis Bank (2.74 per cent), TCS (2.72 per cent) and Hero MotoCorp at 2.38 per cent.

Sector-wise, the rally was driven by telecom (up 1.63%), power (1.46%), teck (1.24%), IT (1.20%), auto (1.16%), FMCG (0.85%), consumer durables (0.85%), infrastructure (0.83%), capital goods (0.51%), realty (0.46%), bankex (0.36%) and healthcare (0.18%). S&P BSE Midcap and S&P BSE Smallcap indices have also surged 48% and 60%, respectively, this year.

Today is the last session of December expiry in the derivatives segment. Hong Kong's Hang Seng rose 0.19 percent while Shanghai Composite gained 0.33 percent.

European markets were down in early trade with Paris CAC 40 falling 0.11 percent, while Frankfurt's DAX shed 0.29 percent.

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