Welcome to ETMarkets Watch, your daily end of the day on Dalal Street. I am Nikhil Agarwal.
Benchmark stock indices closed higher on Thursday, led by index heavyweight, Reliance, Bharti Airtel and banking stocks. The 30-share Sensex finished 213 points higher at 59,757, while its broader counterpart, Nifty50, finished above 17,700. Among Sensex stocks, Tata Steel, Power Grid Corp, Sun Pharma and Bharti Airtel were the biggest winners in today’s trading session, up about 2-3 percent.
Titan, Axis Bank, Dr. Reddy’s Labs, NTPC and M&M also ranked higher. However, Bajaj Finance, Bajaj Finserv, Asian Paints, Nestle, Tech Mahindra and Wipro closed the session with cuts.
Sectorally, Nifty Realty was up 2.96 percent and Nifty Oil & Gas was up 1.36 percent. Nifty Pharma and Nifty PSU Bank also closed higher. In the broader market, Nifty Midcap50 rose 0.78 percent, while Smallcap50 fell 0.10 percent.
Previously, Japan’s Nikkei 225 and China’s Shanghai Composite fell 0.32 percent and 0.55 percent in Asian markets, while South Korea’s Kospi rose 1.74 percent. The Indian rupee rose against the dollar on Thursday on expectations that the US Federal Reserve could turn to a less aggressive monetary stance after next week’s meeting.
The rupee rose 82.49 per US dollar, from 82.72 in the previous session. While January futures for Brent crude were up 0.16 percent to $93.94 a barrel.
The market capitalization of all listed companies on BSE increased by Rs 1.46 lakh crore to Rs 277.13 lakh crore. Market width skewed in favor of bulls. About 1,836 won, 1,583 stocks fell and 130 were flat.
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas, said Nifty is likely to trade sideways to bearish bias in the near term. As long as the Nifty stays below 17800 on a closing basis, it will likely test 17500 in the near term.
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