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F&O expiry: Sensex up 32 pts, ends April series below 50,000; metals shine

Among key sectoral indices, robust global demand lifted the Nifty Metal index to record peak of 4,869 on the NSE today

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MARKET WRAP | Markets | Reliance Industries

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

MARKET LIVE: Sensex up 250 pts; Nifty Metal gains 3%; PSBs decline
Stock updates: gyrated between gains and losses on Thursday, the day of monthly F&O expiry for April series, as investors rushed to buy equities at lower levels but gave-in to the temptation to book profit at higher levels amid economic uncertainty.

The indices started gap-up and surpassed major psychological levels in early deals today after the US Federal Reserve decided to keep monetary policy loose and strengthed its view on the economic recovery. Consequently, the BSE barometer Sensex and the reclaimed their crucial levels of 50,000 and 15,000 within minutes into trade.

The leaped 642 points to hit a high of 50,376 in the intra-day deals. On the NSE, the Nifty touched a peak of 15,044. However, profit-booking at higher levels dragged indices down to 49,536 and 14,814, respectively.

Still, buying in metal space lent support to the indices to end flat, albeit in the green for fourth straight day. The 30-share index advanced 32 points to close at 49,766 levels while the broader 50-share index concluded the day at 14,889 levels, up 24 points.

As per technical charts, today's intra-day breakouts above the immediate resistances have opened door for Sensex to scale 51,800 in the near-term. The Nifty, meanwhile, is heading towards 15,350. READ MORE

Trends in the broader was mixed today as the S&P BSE MidCap index ended 0.18 per cent lower today while the S&P BSE SmallCap index advanced 0.13 per cent.

Among key sectoral indices, robust global demand lifted the Nifty Metal index to record peak of 4,869 on the NSE today. The index ended 4.5 per cent higher at 4,855 levels. On the downside, the Nifty PSU Bank index skidded 1.3 per cent, trailed by losses in the Nifty Auto index, down 1 per cent.

Global markets
European stocks edged back towards record-highs on Thursday after a slew of upbeat earnings reports and the US Federal Reserve’s pledge to stick to loose monetary policy. The pan-European STOXX 600 index rose 0.5 per cent to 442 points, marginally below its record peak of 443.61. 

In Asia, the MSCI world equity index, which tracks shares in 49 countries, was 0.2 per cent higher, on course for its best month since November. MSCI’s broadest index of Asia-Pacific shares outside Japan built on early gains and added 0.48 per cent.

Australia’s S&P/ASX 200 edged up 0.25 per cent, as strong oil prices lifted energy stocks, closing at their highest level in nearly 14 months. China’s blue-chip CSI300 index was 0.88 per cent higher.

(With inputs from Reuters)

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