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MARKETS: Sensex up 206 pts; Tata Grp stocks dip as NCLAT reinstates Mistry
All that happened in the markets today
Broad-based buying across sectors lifted benchmark indices to fresh lifetime highs on Wednesday. Gains were supported by HDFC twins, ITC, Reliance Industries, Asian Paints, and Mahindra & Mahindra (M&M). However, profit-booking at State Bank of India (SBI), ICICI Bank, and Infosys trimmed gains marginally.
Tata Group stocks
In a major development, NCLAT called appointment of N Chandra at the Tata Group as "illegal" and ordered to reinstate Cyrus Mistry as the Executive Chairman at the Tata Group. All the group stocks subsequently lost ground. Tata Motors, TCS, Tata Global Beverages, Tata Chemicals, closed 2.91, 0.02, 3.52, and 1.53 per cent lower respectively. CLICK HERE FOR TATA GROUP STOCKS
The benchmark S&P BSE Sensex hit a record high of 41,614.77 in the intra-day trade today, but closed at 41,558.57 level, up 206.4 points or 0.50 per cent. M&M, Sun Pharma, Asian Paints, and ITC were the top gainers among the Sensex pack. Meanwhile, Tata Motors, HUL, YES Bank, and SBI settled as top laggards.
On the NSE, the broader Nifty50 -- for the first time -- closed above the 12,200-mark. The index ended at 12,224.60-mark, up 59.6 points or 0.49 per cent. The index scaled record peak of 12,237.70.
In the broader market, the mid-caps and small-caps ended the day in the negative territory. The S&P BSE mid-cap index closed 0.19 per cent lower at 14,789.29 level. The S&P BSE small-cap index, on the other hand, closed 0.05 per cent lower at 13,387.13 mark.
Asian stocks camped out at 18-month peaks on Wednesday having climbed for five straight sessions.
MSCI's broadest index of Asia-Pacific shares outside Japan was dead flat near its highest since June last year. Japan's Nikkei dipped 0.4 per cent and off a 2019 top. Shanghai blue chips were steady, after hitting an eight-month peak on Tuesday and as Beijing trimmed another short-term interest rate.
E-Mini futures for the S&P 500 ESc1 barely budged, as did futures for the EUROSTOXX 50 and the FTSE.
(With inputs from Reuters)