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MARKET WRAP: Sensex up 232 pts; small-caps underperform; FMCG, metals gain
All that happened in the markets today
Indian equities shifted their focus back to December quarter earnings and placed stock-specific bets amid expectations of market-friendly proposals in the upcoming Union Budget for FY 2020-21. While the indices held their gains for most part of the day, volatility was seen in the last hour of the trading session, ahead of the expiry of the January series of Futures & Options (F&O) contracts due tomorrow.
The frontline S&P BSE Sensex snapped two-day losing streak to settle 231.80 points, or 0.57 per cent, higher at 41,198.66 level. Only eight of the 30 shares listed on the exchange settled the day in the negative territory. Bajaj Finance, up over 5 per cent post its Q3 results, was the top gainer on the Sensex, while Tata Consultancy Services (TCS), down 1 per cent, was the top laggard.
On the National Stock Exchange (NSE), the Nifty50 settled above the crucial 12,100-mark at 12,129.10 level, up 73.30 points or 0.61 per cent. Except Nifty Pharma, all the key sectoral indices ended the day in the green. Nifty FMCG index was up 1.20 per cent at close, followed by gains in Nifty Metal index (up 0.79 per cent), and Nifty Auto index (up 0.77 per cent).
The broader markets, however, underperformed the headline indices today. The S&P BSE mid-cap edged 0.46 per cent to 15,750.36 level, while the S&P BSE small-cap index was at 14,837.49, up 0.10 per cent.
Asian shares fell on Wednesday as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and added to worries about the economic impact of the outbreak.
Chinese stock futures in Singapore rebounded from two days of losses to rise 1.79 per cent, the biggest gain in almost seven weeks. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.41 per cent. But most of the losses were confined to Hong Kong shares, which sank 2.4 per cent on their first session after a two-and-a-half trading day break for Lunar New Year. Meanwhile, Japan’s Nikkei stock index rose 0.62 per cent, and Australia’s main index added 0.53 per cent.
European futures rose 0.22 per cent in early trading and US stock futures were up 0.27 per cent.
(With inputs from Reuters)