Nifty ends above 11,100 post Eco Survey
The Economic Survey for 2017-18 said the GDP will grow on the back of major reforms which would be strengthened further in the next financial year.business Updated: Jan 29, 2018 19:32 IST
The NSE benchmark Nifty jumped 60.75 points to end at record 11,130.40 after the Economic Survey tabled in Parliament on Monday said real GDP growth will rise to 7-7.5% in 2018-19.
Buying momentum was seen mainly in auto, IT, finance service and media sectors.
However, fall in PSU bank, pharma, energy and FMCG stocks capped the market’s rise.
Overseas, most European shares were trading lower as investors monitored fresh economic data and corporate earnings. Asian shares were mixed after several stocks gave up gains from upbeat openings that tracked Friday’s rally on Wall Street.
Broader market witnessed selling pressure, with the Nifty Midcap and Smallcap index down by 0.85 per cent and 1.68 per cent, respectively.
The Nifty 50 index rose 60.75 points or 0.55% to close at 11,130.40, a record closing high.
It saw an intra-day movement of about 95.60 points.
On the sectoral front, Auto rose 1.48%, IT 0.95%, Finance Service 0.88 per cent, Media 0.67%, Bank 0.19% and Private Bank 0.18%.
However, PSU Bank dropped by 1.41%, Pharma 1.10%, Energy 0.58%, FMCG 0.57% and Realty 0.34%.
Major index gainers were Maruti, Eicher Motors, HDFC, Bharti InfraTel, UPL, Hero MotoCorp, IOC and Indiabulls Housing Finance.
Losers were Dr Reddy’s, Lupin, GAIL, Bharti Airtel, HPCL, BPCL, ITC, Axis Bank, Cipla and ONGC.
The market breadth, indicating its overall health, was in favour of losers. On the NSE, 548 stocks advanced, 1,267 declined and 49 remained unchanged.
Total securities that hit their price bands were 201.
Turnover in the cash segment fell to Rs 35,515.69 crore from Rs 45,562.13 crore as on last Thursday.
A total of 14,592.44 lakh shares changed hands in 12,173,442 trades. The market capitalisation of listed firms on NSE stood at Rs 1,53,25,798.17 crore.