Sensex, Nifty Seen Higher As GST Council Clears All Draft Bills

Markets cheer BJP win Nifty hits lifetime high of 9,000 Sensex soars over 600 points Rupee at 11-month high

Sensex nears 30000-mark after BJP's landslide victory in Uttar Pradesh

NSE Nifty gained 2.6%, closing at 9160 mark, claiming its crucial 9200 mark for the first time ever in intraday trade on Friday; and BSE Sensex gained 2.4%, closing at the 29,649 mark on Friday. The Nifty50 of the National Stock Exchange is up 29 points or 0.32% at 9182.70, after rising to a new high of 9218.40.

The 30-share BSE Sensex, too, gained almost 188 points to close at 29585.85 and is now just 96 points away from its record close.

On Thursday, positive global cues, coupled with a strong rupee and fresh inflows of foreign funds, infused healthy buying sentiments and brought cheer to the equity markets. It saw an intra-day movement of about 70.80 points.

The strong undercurrent was further flavored by government update on GST roll-out from July as well as US Federal Reserve's rate hike cushioned by less hawkish tone on future hike eliminated market-players distraction.

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.

A total of 1,157 scrips advanced, 501 declined, while 87 remained unchanged.

Turnover in the cash segment fell to Rs 24,578.69 crore from Rs 24,615.85 crore yesterday.

The stocks have been spurred by buying in key FMCG heavyweight shares.

The broader markets continued to outperform the benchmark indices. The 30-share benchmark index Sensex climbed 239 points. Adani Ports was the top Sensex gainer it rose to 8.42 per cent, it was followed by Tata Steel 7.32 per cent, ITC 6.82 per cent, HDFC 5.65 per cent, Asian Paints 4.67 per cent, Maruti 3.98 per cent, L&T 3.94 per cent, ICICI Bank 3.77 per cent, Wipro 3.41 per cent and Sun Pharma 3.39 per cent.

Bharti Airtel, Bharti Infratel, Zee Entertainment Enterprises, GAIL India, Idea Cellular, Bosch, Larsen & Toubro, Hindalco, BHEL, Infosys, BPCL, Grasim Industries and State Bank of India are lower by 0.5% - 1%.

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