Nifty Ends At Record High Of 9160, ITC Surges On GST Clarification

Mar 19, 2017, 00:22
Nifty Ends At Record High Of 9160, ITC Surges On GST Clarification

Back home, the benchmark index BSE Sensex rose 0.6 percent on Thursday while the Nifty index climbed 0.8 percent to close at a record high.

MUMBAI, March 16 India's broader NSE share index hit a record high and the rupee rose to its strongest level in almost 17 months on Thursday after the U.S. Federal Reserve signalled no pick-up in the pace of its interest rate tightening. On similar lines, the broader Nifty50 index of the National Stock Exchange (NSE) closed 6 points higher at 9,160.

The U.S. central bank on Wednesday raised interest rates by quarter of a percentage as expected, while maintaining the outlook for two more increases this year and three in 2018.

"The Sensex is yet to register a new life intra-day high or close. This should also mean, save a negative surprise from monsoon forecast, Q4 numbers should prompt investors to be forward looking", said Anand James, chief market strategist, Geojit Financial Services.

It finally settled the week on a buoyant note at 65.46, revealing a solid gain of 114 paise, or 1.71 per cent - stretching the gains for the fourth-straight week.

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The buoyancy reflects a firming trend in Asia and Europe, tracking overnight gains in the U.S. after the Federal Reserve went for a rate increase. The BSE midcap and smallcap indices closed up 1.55 per cent and 1.07 per cent, respectively.

Adani Ports jumped maximum (4.73 per cent).

The pan-European STOXX 600 index rose 0.6 per cent and touched its highest level since December 2015, helped by the Fed's dovish tone and the Dutch election results. Realty and power stocks are also finding good support, while bank, automobile, information technology, consumer durables, capital goods and oil stocks are relatively subdued.

However, Coal India was biggest Sensex loser, its stock fell by 8.47 per cent, it was followed by Bharti Artl 4.93 per cent, Gail 0.98 per cent, ONGC 0.76 per cent and TCS 0.59 per cent.