Sensex Wraps up 2017 on High Note, Finishes at Life-Time High

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Nifty closed at 10,530.70 points, up 0.5%, while Sensex gained 0.62% to close at 34,056.83 points today. This has been a remarkable year for Indian markets, " said Sameet Chavan of Angel Broking.

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. Sensex rose by 7,430.37 points in 2017, which is 27.91 points. It had gained 508.92 points, or 1.94%, last year. The broader NSE's Nifty rose in morning hours.

"Market surprised the investors with a positive note on the final trading day of 2017. Expectation of a pick up in third quarter earnings and strengthening of rupee supported the sentiment", said Vinod Nair, Head of Research, Geojit Financial Services.

"Focus on upcoming Union Budget and government's reforms will direct investors to turn sector/stock specific". The BSE benchmark index had crossed and closed above the 34,000 mark for the first time the previous day while the Nifty settled above 10,500. Both indices rose for the fourth straight week. The SGX Nifty suggests that the Nifty could open at 10,506 with a loss of 3 points at the opening bell.

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On Friday, Reliance Communications Ltd rose 35 per cent as the company agreed to sell its wireless assets to Reliance Jio Infocomm Ltd.

Sector-wise, the rally was driven by telecom (up 1.63 per cent), power (1.46 per cent), teck (1.24 per cent), IT (1.20 per cent), auto (1.16 per cent), FMCG (0.85 per cent), consumer durables (0.85 per cent), infrastructure (0.83 per cent), capital goods (0.51 per cent), realty (0.46 per cent), bankex (0.36 per cent) and healthcare (0.18 per cent).

The BSE mid-cap and small-cap indices ended higher by 0.74%and 0.64%, respectively.

Today, the start of the last trading session of the calendar year, is likely to be mildly in the red. Hong Kong's Hang Seng rose 0.19 per cent while Shanghai Composite gained 0.33 per cent. Japan's Nikkei shed 0.08 per cent.

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