MARKET IN BULL RUN

Stock Market, on 17th December traded in a Bull Run and Recorded New Milestones in the Intra day and also in the Closing, as investors cheered easing trade war tensions and sustained foreign fund inflows. 30 Shares BSE Sensex after touching an all-time intra-day high of 41,401.65, settled 413.45 points (1.01 per cent) higher 41,352.17 -- its fresh closing peak. Similarly, the broader 50-scrip NSE Nifty soared to its new intra-day high of 12,182.75 before ending 111.05 points, or 0.92 per cent, up at 12,165 -- a record closing level.

The positive mood of the markets was also aided by the RBI Governor's statement about central bank's further accommodative stance in terms of policy rate provided if there is a need. Now the Indian market will await outcomes of Wednesday's GST Council meet. Investor sentiment was also buoyed by sustained foreign fund inflows.

On the Sensex, metal stocks drove the rally riding on US-China trade deal optimism. Telecom, financial and IT stocks too boosted the index gain. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent. On the other hand, Sun Pharma fell 1.37 per cent, M&M 0.63 per cent, Bajaj Auto 0.56 per cent and HUL 0.48 per cent.

- Sectorally, BSE telecom, metal, teck, basic materials, IT and finance rallied up to 3.28 per cent. While BSE consumer durables, healthcare, realty and energy indices fell up to 0.68 per cent.

- Broader BSE midcap and smallcap indices surged up to 0.66 per cent.

- Foreign institutional investors (FIIs) remained net buyers in the capital markets, as they purchased shares worth Rs 728.13 crore on Monday, exchange data showed. On Monday they bought equities worth Rs 728.13 crore, while domestic institutional investors sold shares worth Rs 796.38 crore.

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Positive global sentiments buoyed by easing trade war tensions between the US and China continue to pump market. Economic growth remains on the lower side while risk appetite of investors are gradually improving on expectation of further steps from the government in the upcoming budget to revive consumption and attract investments.

- Vinod Nair, Head (Research), Geojit Financial Services.