Reflecting investors' optimism, markets closed at record highs today. Sensex gained 251 points and closed at 34,843. Nifty ended the day at 10,741.55, gaining 60 points from the previous close. Investors cheered strong IIP numbers that rose to 25 month high of 8.4% in November. Moreover, inflation as measured by WPI eased to 3.58 per cent in December 2017, compared to 3.93 per cent in November 2017.
Strong buying was visible in financial sector stocks, led by HDFC that rose over 6 per cent. Among the BSE sectoral indices, banks, finance and consumer durable stocks witnessed heavy buying pressure. Telecom, tech and IT stocks were under pressure. Out of the 19 sector indices, 7 indices advanced whereas 12 indices declined.
FPIs sold Rs 29.11 crores worth of equities today. Out of 3117 stocks that were traded on stock exchange today, 1534 stocks advanced, 1386 stocks declined and 197 remained unchanged. Among the A category shares of BSE, Hathway Cable (14.8 per cent), Gujarat Narmada Valley Fertilizers (12.01 per cent) and Mahindra Lifespace Developers (9.6 per cent) were the biggest gainers.
Muthoot Capital Services reported top-line and bottom-line growth of 50 per cent and 143 per cent respectively in Q3FY18. HDFC (6.17 per cent), ICICI Bank (3.7 per cent) and Tata Steel (1.6 per cent) were the biggest sensex gainers. BSE mid cap index declined and BSE small cap index gained. Over 56 per cent & 53 per cent of the constituents of BSE mid cap index and BSE small cap index declined in today's trade respectively.
Asian markets gained after US markets closed at record highs on Friday after some of the major financial companies in US reported strong financial numbers. Japan's Nikkei advanced in the early trade, however, stronger yen capped its gains.