Online sensex report
MUMBAI: The markets maintained 2017's celebratory mood through to the year's last day of trading, with the Sensex closing at a record 34,056.83 amid robust equity shopping by both domestic and foreign institutional investors (FIIs).
The Sensex rose 0.62% with Tata Motors, Axis Bank and Tata Consultancy Services logging gains of about 3% each.
Bharti Airtel stock was the biggest gainer, surging 9 per cent on Nifty during the day's trade.
Bank stocks were the other major gainers with Nifty PSU Bank and Nifty Pvt Bank sub-indices jumping 3.64 per cent and 1.76 per cent respectively.
The group eventually moved to Dalal Street in 1874 and became an official organization known as "The Native Share & Stock Brokers Association" in 1875.
On August 31, 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act.
would gather under banyan trees in front of Mumbai's Town Hall.
FIIs invested Rs 51,000 crore in 2017 while mutual funds pumped a record Rs 1.16 lakh crore into equities, reflecting a transformation in the country's savings culture that was triggered by demonetisation in November last year.
Investors have shifted from physical savings to financial savings, leading to a sharp inflow into equity mutual fund schemes.
The continuation of that trend should mean more money flooding into the markets in 2018.
"It will be a stock picker's market and there will be moderation in returns with volatility." Analysts expect earnings growth will perk up in the next few quarters because of the lowbase effect on account of demonetisation and its disruptive effects.
They expect real earnings growth to have picked up pace from the June quarter next year, as reforms and the implementation of GST, which was rolled out July 1, start yielding returns.