Sensex ends 95 pts higher in see-saw session; HDFC twins shine
Equity benchmarks closed with modest gains after a choppy session on Wednesday, propped up by buying in select finance and banking stocks amid mixed cues from global markets.
Mumbai- Equity benchmarks closed with modest gains after a choppy session on Wednesday, propped up by buying in select finance and banking stocks amid mixed cues from global markets.
After trading on a volatile note through the day, the 30-share BSE Sensex ended 94.71 points or 0.25 per cent higher at 38,067.93.
On similar lines, the broader NSE Nifty rose 25.15 points or 0.22 per cent to finish at 11,247.55.
Tech Mahindra was the top gainer in the Sensex pack, spurting 2.84 per cent, followed by Titan, Nestle India, HUL, HDFC Bank, HDFC and ITC.
On the other hand, Bharti Airtel led the losers' chart, slumping 3.34 per cent.
Tata Steel, IndusInd Bank, M&M, Sun Pharma and ICICI Bank were among the other laggards, shedding up to 2.77 per cent.
Reliance Industries pared intra-day gains and closed 0.49 per cent lower after the company announced that global private equity firm General Atlantic will invest Rs 3,675 crore to buy a 0.84 per cent stake in its retail arm, extending the conglomerate's fundraising spree.
According to traders, domestic equities traded on a choppy note following mixed global cues after the first US presidential election debate failed to cheer markets.
US President Donald Trump and Democratic rival Joe Biden clashed in a no-holds-barred debate filled with personal attacks and name-calling, hoping to sway undecided voters ahead of the November 3 election.
"As expected, benchmark indices remained volatile throughout the day, fluctuating between losses and gains before finally ending the day flat.
"Global cues were mostly negative, following caution over the outcome of US presidential elections and also because of rising virus cases around the world. Traders are advised caution as markets are expected to remain volatile," said Vinod Nair, Head of Research at Geojit Financial Services.
Sectorally, BSE consumer durables, FMCG, capital goods, industrials, healthcare, finance and IT indices rose as much as 1.72 per cent, while telecom, metal, oil and gas, energy and realty closed with losses.
Broader BSE midcap and smallcap indices ended marginally higher.
The country's current account surplus rose to USD 19.8 billion or 3.9 per cent of GDP in the June quarter as merchandise imports declined amid the COVID-19 pandemic, the Reserve Bank said on Wednesday.
In rest of Asia, bourses in Shanghai and Tokyo ended in the red, while Hong Kong and Seoul settled with gains.
Stock exchanges in Europe were trading on a negative note in early deals.
International oil benchmark Brent crude was trading 1.23 per cent lower at USD 41.05 per barrel.
In the forex market, the rupee settled 10 paise higher at 73.76 against the US dollar.