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MARKET WRAP: Sensex gains 162 pts, Nifty ends at 10,845; bank stocks rally

All that happened in markets today.

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers
Buying in select blue-chip counters such as HDFC twins, ICICI Bank, State Bank of India (SBI) and Infosys helped benchmark indices to settle in the positive territory on Wednesday. The broader market sentiment, however, remained subdued amid disappointing macro data, continuous decline in auto sales and weak global cues.

The S&P BSE Sensex gained 162 points or 0.44 per cent to settle at 36,725, with Bharti Airtel (up 3 per cent) being the top gainer and Maruti (down 4 per cent) the biggest loser. During the session, the 30-share index of BSE hit a high and low of 36,776.31 and 36,409.54, respectively. 

On NSE, the benchmark Nifty50 index closed at 10,845, up 47 points or 0.43 per cent. Out of 50 constituents, 30 advanced while 20 declined. 

Market breadth was in favour of bulls as out of 2,557 scrips traded on BSE, 1,203 advanced and 1,188 declined while 166 remained unchanged.

India VIX, the volatility gauge, slipped around 5 per cent to 17.22-mark.

In the broader market, the S&P BSE MidCap index added 18 points, or 0.14 per cent, to end at 13,264 levels, while the S&P BSE SmallCap index closed at 12,406, up 36 points or 0.29 per cent. 

Sectorally, auto stocks declined the most, followed by media and realty counters. The Nifty Auto index fell around 2 per cent to 6,782 levels. On the flip side, metal stocks gained the most. 

Among individual stocks, Sun Pharma ended over 3 per cent down at Rs 426.40 apiece on the BSE after reports suggested that Securities and Exchange Board of India (Sebi) has ordered a forensic audit against the company to look into allegations of financial irregularities and lapses in corporate governance standards.

Maruti ended 4 per cent lower after the company said it will shut down operations for two days at its Haryana plants. READ MORE

GLOBAL CUES

Stocks followed a firmer Chinese lead on Wednesday after a report showed growth in the country’s service sector accelerating despite broader economic headwinds, while the pound halted its decline on hopes a no-deal Brexit may yet be averted. The Shanghai Composite Index added 0.3 per cent while the blue-chip CSI300 index gained 0.25 per cent. MSCI’s index of Asia-Pacific shares outside Japan snapped two days of losses and gained 0.6 per cent. South Korea’s KOSPI advanced 0.4 per cent and Japan’s Nikkei added 0.2 per cent.

(With inputs from Reuters)

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