Sensex scales new high, signs off 2017 with 28 per cent gains

Sensex scales new high, signs off 2017 with 28 per cent gains
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Mumbai: The BSE Sensex rose 209 points tofinish at a fresh life-time high of 34,056.83 on the last trading day of 2017, capping off a remarkable year which saw the benchmark surging by 28 per cent.

Power, IT, auto and infrastructure stocks witnessed robust buying, while the beginning of January 2018 series of futures and options also added to the momentum.

The 30-share index started the day on a strong note at 33,889.39 and hit a high of 34,086.05 before closing at 34,056.83, up by 208.80 points, or 0.62 per cent. It surpassed its previous closing high of 34,010.61 reached on December 26.

The broad-based NSE Nifty rose 52.80 points, or 0.50 per cent, to end at 10,530.70 after trading between 10,538.70 and 10,488.65. Both the indices rose for the fourth straight week.

The Sensex advanced by 116.53 points, or 0.34 per cent, while the Nifty gained 37.70 points, or 0.35 per cent, during the period. The Sensex clocked its best performance in recent years in 2017, rising by 7,430.37, or 27.91 per cent year-on-year. It had gained 508.92 points, or 1.94 per cent, in 2016.