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MARKET WRAP: Sensex gains 83 pts, Nifty ends at 10,841; realty stocks surge
All that happened in markets today.
Benchmark indices ended Wednesday's range-bound session in a positive territory; however, they pared their intra-day gains in the fag-end of the session. Although, decline in oil prices did give some impetus to the bulls, the broader market sentiment remained subdued after reports said the goods and services tax (GST) Council is unlikely to approve lowering the tax for auto sector. READ MORE
The S&P BSE Sensex ended at 36,564, up 83 points or 0.23 per cent, with Tata Steel (up 4 per cent) being the top gainer and ONGC (down 2 per cent) the worst performer. On NSE, the Nifty50 index ended at 10,841, up 23 points or 0.21 per cent. Out of 50 constituents, 33 advanced while 17 declined.
Volatility index India VIX declined over 5 per cent to 15.17 levels.
In the broader market, the S&P BSE MidCap ended 52 points or 0.39 per cent higher at 13,439.30 levels while the S&P BSE SmallCap index settled at 12,894.23, up 39 points or 0.30 per cent.
Market breadth remained in favour of advances as out of 2,642 companies traded on BSE, 1,248 gained and 1,236 slipped while 158 scrips remained unchanged.
Among the sectoral indices on NSE, realty stocks advanced the most, followed by metal and PSU bank stocks. On the contrary, media counters slipped the most in trade.
Tobacco stocks rallied in the trade after Cabinet announced ban on e-cigarettes. Godfrey Phillips ended 5 per cent higher at Rs 989 apiece on the NSE while ITC added around 1 per cent to settle at 238.90.
Hotel stocks, too, gained after reports said the Goods and Services Tax (GST) Council could cut rates for five-star hotels to provide relief to the hospitality industry. The Council is scheduled to meet on Friday, September 20.
Oil prices steadied on Wednesday as Middle East events kept investors nervous, while caution ahead of an expected US interest rate cut kept wider financial markets in tight ranges. European stocks were subdued. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.08 per cent while Japan’s Nikkei dipped 0.18 per cent after 10 straight days of gains and China’s blue-chip share index rose 0.49 per cent.
Wall Street futures pointed to a softer opening.
(With inputs from Reuters)