The topline equity indices on the BSE and National Stock Exchange (NSE) ended nearly 1 per cent higher on Wednesday led by gains in the banking and financial stocks.
The S&P BSE Sensex settled at 34,109.54, up 284.01 points (0.84 per cent), while the broader Nifty 50 reclaimed the 10,000-mark, ending at 10,061.55, up 82.45 points (0.83 per cent). Both the indices had opened over 1.5 per cent higher and remained in the positive territory throughout the entire trade session.
On the Sensex, the gains on Wednesday were led by Mahindra & Mahindra (M&M), Kotak Mahindra Bank, Bajaj Finance, Nestle India, State Bank of India (SBI) and ICICI Bank. On the other hand, NTPC, IndusInd Bank, Bharti Airtel, Maruti Suzuki India, Hero MotoCorp and Infosys were the top drags. (see heatmap below)
All the sectoral indices on the NSE except the Nifty IT and Nifty Metal ended on a positive note on Wednesday. The Nifty PSU Bank index was the biggest gainer of the day climbing 5.12 per cent aided by Indian Overseas Bank, Bank of India, Punjab & Sind Bank and Union Bank of India. the Nifty Realty index too rose 3.13 per cent led by Godrej Properties and Oberoi Realty.
Among key sectors, the Nifty Bank rose 2.00 per cent led by Punjab National Bank (PNB), Kotak Mahindra Bank and Bandhan Bank. The Nifty Financial Services index also rose 1.93 per cent led by Shriram Transport Finance Company and Bajaj Holdings & Investment.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap index ended at 12,340.65, up 37.96 points (0.31 per cent) while the S&P BSE SmallCap index settled at 11,570.65, up 142.24 points (1.24 per cent).
The rupee surrendered all intra-day gains to provisionally settle 11 paise lower at 75.47 against the US dollar on Wednesday, even as domestic equities were trading in positive territory.
Forex traders said positive domestic equities, sustained foreign fund flows, revival of business activities and weak US dollar supported the local unit, but there are still a slew of risks, including US-China trade tiff and concerns that it may jeopardise the Phase-1 deal.
At the interbank forex market, the rupee opened strong at 75.04, but pared the gains and finally closed at 75.47 against the US dollar, down 11 paise over its last close. It had settled at 75.36 against the US dollar on Tuesday.
During the session, the local unit witnessed an intra-day high of 75.04 and a low of 75.52.
– with rupee inputs from PTI
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