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MARKET WRAP: Sensex up 175 pts; Tata Motors surges 7%, RIL down over 1.5%
All that happened in the markets today
Broad-based buying across sectors in the fag end of the trading session pulled indices back in the positive territory on Wednesday after news agency Bloomberg reported that the US and China were closer to signing trade deal despite heated rhetoric.
The benchmark S&P BSE Sensex surged 374 points from day's low to settle at 40,850.29 level, up 175 points or 0.43 per cent, with Tata Motors (up over 7 per cent) being the top gainer and L&T (down 2 per cent) being the top laggard among the Sensex pack. On the NSE, the Nifty50 was back above the psychological mark of 12,000, and settled 49 points, or 0.41 per cent higher, at 12,043-mark.
On the sectoral front, all the indices ended the day in the positive territory except Nifty Realty index. Nifty PSU Bank index advanced 2 per cent, followed by Nifty Metal index (1.5 per cent). On the downside, Nifty Realty index closed 0.07 per cent lower.
In the broader market, the S&P BSE Mid-cap index rose 0.58 per cent to settle at 14,911.06, while the S&P BSE small-cap index closed at 13,453.60, up 0.33 per cent.
BHARAT BOND ETF
After exchange traded fund for equities, the Union Cabinet on Wednesday approved launch of a exchange traded fund for bonds. The fund will provide additional money for state-owned firms and other government organisations, Finance Minister Nirmala Sitharaman said. Bharat Bond Exchange Traded Fund would be the first corporate bond ETF in the country. READ MORE
Asian shares extended losses on Wednesday. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9 per cent. Japan's Nikkei dropped 1 per cent, matched by falls in Hong Kong and Korea , where stock markets touched their lowest since October.
Shanghai blue chips fell 0.2 per cent and Australia's S&P/ASX200 tumbled 1.6 per cent, having shed almost 4 per cent since closing on Monday.
(With inputs from Reuters)