Stock Market Update: Key Indices Ended with Gains, Sensex up 514 points, Nifty at 17,200

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© Provided by News18 Stock Market Update: Key Indices Ended with Gains, Sensex up 514 points, Nifty at 17,200

The Indian benchmark key indices, the BSE Sensex, the Nifty50 ended in the green, the BSE Sensex was up 514.33 points or 0.90 per cent at 57852.54, and the broader Nifty ended at 17,234, up 157.90 points or 0.92 percent indices ended higher with Nifty closing above 17200 led by IT and FMCG stocks. About 1933 shares have advanced, 1187 shares declined, and 143 shares are unchanged. Shree Cements, HDFC Life, Cipla, TCS and HUL were the top Nifty gainers. M&M, Coal India, Bajaj Auto, ONGC and Divis Labs were among the top losers. Except auto and PSU Bank, all other sectoral indices ended in the green with IT and Pharma indices up 1 percent each. BSE midcap and smallcap indices gained over 0.5 percent each. The markets opened with gains and closed in the green as the spirit on Dalal street was boosted by the double digit GDP figure of 20.1 per cent. However, taking mixed cues from the global market which was in caution mode as they are waiting for US employment data that is scheduled to come out by the end of this week. However, Balance of trade data coming out today will set the course for the market behaviour tomorrow. “Bulls took complete control today as Indices rose by almost a percentage to hit record highs on the back of IT, Cement & FMCG biggies. The broader markets were buzzing as the formalisation of the economy enabled organised branded players to gain share. High-Frequency Indicators are pointing towards an uptick in rail freight, consumer durables and appliances ahead of the festive season,” S Ranganathan, head of research at LKP securities said.

Taking mixed global cues, In early trade, the benchmark indices, the BSE Sensex and Nifty50, both opened in a positive territory. The BSE Sensex was up 37.42 points or 0.07 per cent at 57375.63, and the Nifty was up 7.50 points or 0.04 per cent at 17083.80.

Today global markets opened with caution, Apart from US markets which touched an-all time high yesterday, Asian markets opened on a flat note. The Hang Seng Index rose 0.67 per cent, or 175.23 points, to 26,203.52. The Shanghai Composite dipped 0.20 per cent, or 7.20 points, to 3,559.90, while the Shenzhen Composite Index on China’s second exchange fell 0.22 percent, or 5.32 points, to 2,412.57. On the other hand, Japan stocks also opened with gains. The benchmark Nikkei 225 index was up 0.48 percent or 135.43 points at 28,586.45 in early trade, while the broader Topix index advanced 0.21 percent or 4.23 points to 1,985.02.

“Domestic indices nudged higher tracking cues from positive economic data, FII buying and mixed global markets ahead of the release of US job data. Economic data is nudging the performance of core sectors like capital goods & industrials while the recent high performance of the market is also tempting investors to shift to safer defensive sectors. All major sectors followed the market trend while the auto sector lost ground due to weak sales,” Dr VK Vijaykumar, head of research at Geojit Financial Services said.

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