Stocks were off to a positive start in the final trading session of 2017, with the benchmark Sensex gaining 110 points and the NSE Nifty crossing the 10,500-point mark on widespread gains led by banking, FMCG and capital goods shares. Besides, beginning of January series in the futures and options (F&O) segment accelerated buying by participants, which supported the upside.
The 30-share index rose 110.26 points, or 0.32 per cent, to 33,958.29. All the sectoral indices led by power, capital goods, infrastructure and healthcare were up, rising by up to 1.01 per cent.
The barometer had lost 162.58 points in the previous two sessions. The broad-based NSE Nifty too was up 30.30 points, or 0.28 per cent, at 10,508.20.
Power Grid, Tata Steel, L&T, Adani Ports, Axis Bank, SBI, NTPC, Asian Paint, HDFC Ltd, Hero MotoCorp, ITC Ltd, Sun Pharma, Maruti Suzuki, TCS and Reliance Industries were major gainers, which supported the indices.
Shares of Reliance Communications continued their upward march for yet another session, soaring 19.51 per cent to Rs 37 after reports that Mukesh Ambani-led Reliance Jio will acquire mobile business assets including spectrum, mobile towers and optical fibre network of Reliance Communications.
Globally, Hong Kong's Hang Seng rose 0.42 per cent while Japan's Nikkei up 0.25 per cent in early trade. Shanghai traded too gained 0.16 per cent. The US Dow Jones Industrial Average closed 0.26 per cent higher yesterday.
Meanwhile, the rupee gained 10 paise against the US dollar to trade at 63.98 in early session on selling of the US currency by exporters and banks.