INSUBCONTINENT EXCLUSIVE:
markets opened with gains.
In a huge relief for affected homebuyers, the government cleared a Rs 25,000 crore alternative investment fund
(AIF) in which the government will contribute Rs 10,000 crore
The special window will also get investments from institutions like LIC and SBI, which will take the corpus to Rs 25,000 crore.
BSE
benchmark Sensex jumped over 200 points to scale a fresh record high of 40,676
Meanwhile, the 50-share Nifty opened above the 12,000 mark
It was trading at 12,005, up 40 points.
Broader markets moved in tandem with their headlines peers
Nifty Midcap gained 0.7 per cent to 16,797 while Nifty Smallcap advanced 0.6 per cent to 5,768
Nifty500 was trading with gains of 0.5 per cent, at 9,768.
All sectoral indices on NSE were trading higher in the opening trade
Unsurprisingly, Nifty Realty was the biggest gainer, up 2 per cent at 279.70, lifted by Indiabulls Real Estate that surged 5 per cent to Rs
70.20 and Sobha which climbed 4 per cent to Rs 541
Among the biggest gainers on Sensex were IndusInd Bank, adding 2.1 per cent to Rs 1,370.25, and housing finance company HDFC, which gained
1.5 per cent to Rs 2,251.85.
Tata Steel, which reported a 6 per cent profit growth in the September quarter, was the biggest loser on the
index, shedding 2.25 per cen to Rs 394.30
Steel major Tata Steel reported profit at Rs 3,302.31 crore for the quarter ended September 30, on one-time deferred tax gain of Rs 4,365.33
crore.
Vedanta (down 1 per cent) and YES Bank (down 0.9 per cent) were other top members of losers club.
On the global front, Asian shares
managed to cling near multi-month peaks on Thursday while bonds eked out a bounce as reports of delays in sealing a preliminary Sino-US
trade deal left investors frustrated at the lack of concrete progress.
MSCI's broadest index of Asia-Pacific shares outside Japan eased a
slight 0.1 per cent, just off a six-month high hit earlier in the week.