Sensex gains 53 points, Nifty reclaims 10,900-mark; markets swing due to uncertainty ahead of interim budget, corporate results

  • After gyrating nearly 300 points, Sensex settled 52.79 points, higher at 36,374.08

  • Nifty inched up 14.90 points, or 0.14 percent, to 10,905.20

  • Sun Pharma was the biggest loser, cracking 5.78 percent

Mumbai: Benchmark indices closed higher for the third straight session on Thursday on stock-specific action amid mixed cues from the global markets.

After gyrating nearly 300 points, the BSE Sensex settled 52.79 points, or 0.15 percent, higher at 36,374.08. The broader NSE Nifty inched up 14.90 points, or 0.14 percent, to 10,905.20.

In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 percent.

 Sensex gains 53 points, Nifty reclaims 10,900-mark; markets swing due to uncertainty ahead of interim budget, corporate results

Representational image. Reuters.

Sun Pharma was the biggest loser, cracking 5.78 percent.

Other laggards were Yes Bank, SBI, Bajaj Finance, Tata Steel, Bharti Airtel and ONGC, declining up to 3.31 per cent.

RIL and HUL declined up to 1.12 percent ahead of their quarterly results.

Indices swung between positive and negative territory as uncertainty prevailed ahead of the interim budget and key corporate results, said Paras Bothra, president, equity research, Ashika Group.

IT stocks supported the market on account of weaker rupee, while real estate stocks also witnessed positive momentum as there are signs that worst may be over for the sector, Bothra added.

According to Vinod Nair, head of research, Geojit Financial Services, global trade tensions and risk of recession will cast cloud over the sentiment while lack of major triggers in the domestic market could steer a range-bound movement in the near term.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 90.10 crore on Wednesday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 304.27 crore, provisional data available with BSE showed.

The rupee, meanwhile, was trading 6 paise higher against the US dollar at 71.18.

The benchmark Brent crude futures slipped 0.95 percent to $60.74 per barrel.

Elsewhere in Asia, Shanghai Composite Index lost 0.42 percent, Hong Kong's Hang Seng fell 0.54 percent and Japan's Nikkei shed 0.20 percent, while Korea's Kospi ended 0.04 percent higher.

In Europe, London's FTSE fell 0.56 percent, Frankfurt's DAX was down 0.54 percent and Paris CAC 40 dropped 0.32 percent in early deals.

 

 

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Updated Date: Jan 17, 2019 16:47:29 IST