Nifty reclaims 10,500 for first time in 2018, led by PSU bank and metal stocks

best shares to buy sellNifty, Sensex ended higher on Thursday in a volatile trade after rising constantly in the afternoon session. Shares of Tata Steel, ONGC, HPCL, L&T, Dr Reddy’s, Asian Paints, Coal India, Sun Pharma, Bajaj Finance, Vedanta and State Bank of India led the benchmark indices higher.In a fresh gain of the New Year, the NSE Nifty50 ended at 10,504.80 after gaining 61.60 points, while the BSE Sensex rallied 176.26 points or 0.52% to 33,969.64 on closing.Shares of PSU banks to a great extent rallied up to 10 percent in the afternoon trade on Thursday as Modi govt sought another Rs 80,000 cr bonds for the recapitalization of NPA-laden state-run lenders.

Effective on the news report, the Nifty Bank index rose 0.57 percent to 25,462.60, with shares of PNB, Bank of Baroda & Canara Bank topping the charts, together with Nifty PSU Bank index surged 2.69 percent.

Shares of Idea Cellular rose 1.90% after the company announced that it has approved raising Rs 3,250 crore through the preferential issue to the promoters.

Shares of Tata Motors slipped 0.81% after its luxury unit Jaguar-Land-Rover reported US sales. The nifty Auto index slipped 0.20%, while Nifty Realty fell 0.19%.

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