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Nifty ends 1.2% higher, Sensex up 352 points; auto, realty indices gain

SI Reporter/New Delhi 07 Dec 17 | 03:30 PM

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Benchmark indices ended higher with Sensex ending over 350 points higher while Nifty ending firmly above 10,150-mark, bouncing back after two days of losses on Thursday, led by banking, telecom, metal and auto stocks.

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Lenders such as State Bank of India on expectations that the government would soon reveal details of a recapitalisation plan. Reserve Bank of India Governor Urjit Patel said on Wednesday the government would “in coming days" detail how it plans to inject an announced $32 billion into state-run lenders, which was announced in October.

Meanwhile, an RBI order mandating banks to lower the merchant discount rate they charge on debit cards did not affect sentiment.

However, broader gains were capped ahead of elections in the western state of Gujarat due this weekend, in a critical test for Prime Minister Modi.

Globally, Asian shares hovered above two-month lows as some high-tech bellwethers bounced back after a searing sell-off although softer oil and copper prices and uncertainty over US policy kept many investors cautious.

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Sensex

Company Price Gain (%)
M & M1,481.753.50
Bajaj Auto3,249.953.13
HDFC Bank1,876.252.13
Dr Reddy's Labs2,353.001.70
Lupin866.351.68

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