Sensex, Nifty end marginally higher; PSBs gain on bankruptcy code amendment
All that happened in the market today
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Benchmark indices eased off early highs to marginally higher in lacklustre trade on Wednesday, as gains in PSU Bank, auto and realty indexes were offset by losses in pharmaceuticals and energy stocks.
PSU banks jumped after the central cabinet approves amendment to the Insolvency and Bankruptcy Code to prevent wilful defaulters from bidding for stressed assets.
The sentiment was also lifter as Asian shares gained to reach their highest in a decade as strong world growth and rising corporate profits lured hordes of investors into equities, while oil prices jumped closer to a recent 2-1/2 year top.
Investors also await the minutes from the US Fed’s latest policy meeting, which will be out later today.
3:45 PM
Top Sectoral loser: Nifty Pharma
Source: NSE
3:41 PM
PSU Banks gain
Source: NSE
3:37 PM
Sectoral Trend
Source: NSE
3:36 PM
Top Sensex gainers and losers
Source: BSE
3:34 PM
Broader Markets
In broader markets, the BSE Midcap ended in negative while the BSE Smallcap settled 0.23% higher
In broader markets, the BSE Midcap ended in negative while the BSE Smallcap settled 0.23% higher
3:32 PM
Markets at Close
The S&P BSE Sensex ended at 33,561, up 83 points, while the broader Nifty50 was ruling at 10,342, up 15 points.
3:20 PM
Asian markets rally
Asian shares joined a global rally to reach their highest in a decade on Wednesday as strong world growth and rising corporate profits lured hordes of investors into equities, while oil prices jumped closer to a recent 2-1/2 year top.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4% to Tursday's 1.3% rise - the biggest gain in eight months, supported by energy and technology sectors.
The index has been on an uptrend most of this year, posting a monthly loss only once in 2017. For the year so far, it is up about 33%, on track for its best annual performance since a 68% jump in 2009.
Hong Kong's Hang Seng index is up 35.5% year-to-date while China's CSI 300 has risen 27.4% so far in 2017.
3:07 PM
PSU Banks jump on reports of bankruptcy code amendment
Shares of India’s top state-owned lenders surge: State Bank of India up as much as 2.7% and Punjab National Bank up as much as 3.5% on media reports that the central cabinet approved amendment to the Insolvency and Bankruptcy Code to prevent wilful defaulters from bidding for stressed assets.
3:00 PM
Europe Check
European stocks hovered around the flatline on Wednesday morning as positive global sentiment eased.
The pan-European Stoxx 660 was 0.05% lower with most sectors suffering losses in early deals.
2:47 PM
Future Group shares gain on expansion plans
Shares of Future Group companies, Future Retail, Future Lifestyle, Future Consumer, Future Market and Future Enterprises rallied up to 11% on the BSE in intra-day trade after the announcement of plans to open 10,000 member-only Easyday stores by 2022, utilising the technology and data of Alphabet Inc's Google and Facebook Inc. READ MORE
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First Published: Nov 22 2017 | 3:30 PM IST