Markets

Markets end in green, Asian cues push Sensex, Nifty higher

Markets end in green, Asian cues push Sensex, Nifty higher

The benchmark BSE Sensex gained over 100 points in early hours of trade today tracking strong Asian cues supported by a rally in oil prices and easing global trade concerns.

Likewise, the NSE Nifty index gained 39.10 points, or 0.37 per cent to 10,565.30.

The BSE Sensex ended higher by 95.61 points, or 0.28 per cent to 34,427.29. Earlier the gauge had lost 63.38 points in the previous session.

The wider Nifty50 on the National Stock Exchange (NSE) fell by 22.50 points or 0.21 per cent to provisionally close at 10,526.20 points. "There was clearly some gush seen from the traders' fraternity as they turned skeptical when Nifty neared the 10,600 level mark".

In the broader market, the BSE Midcap and BSE Smallcap indices gained 0.3%.

On Tuesday, both the equity indices had logged their ninth consecutive session of gains, which was their longest winning streak since September 2014.

Rising crude oil prices continued to hurt oil marketing companies including BPCL, HPCL and IOC, which slipped up to 7 per cent. Brent and WTI, which are now sitting at levels not seen since the end of 2014, edged up further in the worldwide market.

Major early gainers were Wipro, Yes Bank, Adani Ports, ITC, Asian Paint, Tata Motors, Bharti Airtel, ONGC, Sun Pharma, Tata Steel, TCS, Maruti Suzuki and RIL rising up to 1.47 percent.

Tata Consultancy closed 1 per cent higher at Rs 3190.65 ahead of financial results for Q4FY18.

However, stocks of oil marketing companies such as HPCL, BPCL and International Olympic Committee faced selling pressure in view of rising global oil prices. The shares of Axis Bank slumped 2.60 per cent while that of M&M, IndusInd Bank and Hero Motocorp dropped 1.55 per cent, 1.23 per cent and 0.97 per cent respectively.

Meanwhile, on a net basis, DIIs bought shares worth Rs 723.81 crore, while foreign funds sold shares to the tune of Rs 951.39 crore yesterday, provisional data showed.


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