Sensex ends 86 points higher as investors treade cautiously ahead of crucial US Fed meet; Jet Airways nosedives 41%

Overall market sentiments turned a bit optimistic in view of lower crude oil prices and strengthening rupee

Press Trust of India June 18, 2019 16:21:05 IST
Sensex ends 86 points higher as investors treade cautiously ahead of  crucial US Fed meet; Jet Airways nosedives 41%
  • The BSE gauge swung nearly 300 points before settling 85.55 points, or 0.22 percent, higher at 39,046.34

  • The broader NSE Nifty closed 19.35 points, or 0.17 percent, higher to close at 11,691.50

  • Top gainers in the Sensex pack included Vedanta, Coal India, ICICI Bank, and Bajaj Finance, rising up to 2.65 percent

Mumbai: Snapping its four-day losing streak, BSE benchmark Sensex Tuesday regained 86 points in a session marked by high volatility as investors treaded cautiously ahead of the crucial US Fed meet.

Overall market sentiments, however, turned a bit optimistic in view of lower crude oil prices and strengthening rupee.

The BSE gauge swung nearly 300 points before settling 85.55 points, or 0.22 percent, higher at 39,046.34. The index hit an intra-day high of 39,167.83 and a low of 38,870.96.

The broader NSE Nifty closed 19.35 points, or 0.17 percent, higher to close at 11,691.50. During the day, the index touched a high of 11,727.20 and a low of 11,641.15.

Top gainers in the Sensex pack included Vedanta, Coal India, ICICI Bank, PowerGrid, HCL Tech and Bajaj Finance, rising up to 2.65 percent.

Sensex ends 86 points higher as investors treade cautiously ahead of  crucial US Fed meet Jet Airways nosedives 41

Representational image. Reuters.

On the other hand, Yes Bank was the biggest losers, cracking 5.94 percent, followed by Maruti, Asian Paints, Sun Pharma and HDFC twins, shedding up to 2.20 percent.

Shares of Jet Airways plummeted 40.48 percent after State Bank of India-led consortium of lenders Monday decided to send the grounded Jet Airways to the National Company Law of Tribunal (NCLT) as they have not yet received any concrete proposal for the airline.

Investors have turned cautious ahead of the US Federal Reserve's policy meeting, scheduled to begin later in the day, traders said.

According to experts, market is finding it difficult to sustain at elevated levels on the back of muted corporate earnings, slow monsoon season, continuous corporate defaults and developing concerns of India-US trade disagreements.

Elsewhere in Asia, while Nikkei ended significantly lower, Hang Seng, Nikkei and Kospi settled on a positive note.

Stock exchanges in Europe were also trading in the green in early deals.

On the currency front, the Indian rupee appreciated 22 paise to 69.69 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, slipped 0.64 percent to $60.55 per barrel.

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Sensex was trading 28.05 points, 0.08 percent, lower at 35,714.02, after swinging over 200 points between highs and lows of 35,910.67 and 35,675.02, respectively.