Sensex today: Tata Motors top gainer; index gains 103 points as IT stocks rally
Sensex today: The benchmark indices settled higher on Wednesday with losses in oil marketing companies (OMCs) such as Hindustan Petroleum Corp being offset by gains in IT stocks including Tata Consultancy Services. The Sensex ended at 35,319, up 103.03 points, while Nifty50 closed at 10,741, up 23.90 points.
In the broader market, the BSE Midcap and BSE Smallcap indices underperformed to lose 0.6 per cent and 0.1 per cent, respectively. Market breadth, indicating the overall health of the market turned negative. On the BSE, 1,507 stocks declined, 1,176 stocks rallied, while 127 stocks remained unchanged.
Overseas, Crude oil prices jumped back to 3-1/2-year highs on Wednesday after President Donald Trump pulled the United States out of an international nuclear deal with Iran, while the dollar continued its tireless ascent and world stocks held steady.
The MSCI world equity index, which tracks shares in 47 countries, was flat in percentage terms and continued to trade in a narrow range. The pan-European STOXX 600 meanwhile rose 0.2 percent as oil majors gained and earnings from Siemens and Imperial Brands (IMB.L) dominated the market action.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat, while Japan's Nikkei fell 0.4 percent.
On Tuesday, the Sensex closed at 35,216.32 points, up 8.18 points or 0.02 per cent, while broader Nifty50 ended at 10,717.80 points, up 2.30 points or 0.02 per cent.
Foreign institutional investors sold scrips worth Rs 97.15 crore, while the domestic institutional investors purchased stocks worth Rs 923.25 crore, provisional data with the exchanges showed.
Sensex today: The benchmark indices settled higher on Wednesday with losses in oil marketing companies (OMCs) such as Hindustan Petroleum Corp being offset by gains in IT stocks including Tata Consultancy Services. The Sensex ended at 35,319, up 103.03 points, while Nifty50 closed at 10,741, up 23.90 points.
In the broader market, the BSE Midcap and BSE Smallcap indices underperformed to lose 0.6 per cent and 0.1 per cent, respectively. Market breadth, indicating the overall health of the market turned negative. On the BSE, 1,507 stocks declined, 1,176 stocks rallied, while 127 stocks remained unchanged.
Overseas, Crude oil prices jumped back to 3-1/2-year highs on Wednesday after President Donald Trump pulled the United States out of an international nuclear deal with Iran, while the dollar continued its tireless ascent and world stocks held steady.
The MSCI world equity index, which tracks shares in 47 countries, was flat in percentage terms and continued to trade in a narrow range. The pan-European STOXX 600 meanwhile rose 0.2 percent as oil majors gained and earnings from Siemens and Imperial Brands (IMB.L) dominated the market action.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat, while Japan's Nikkei fell 0.4 percent.
On Tuesday, the Sensex closed at 35,216.32 points, up 8.18 points or 0.02 per cent, while broader Nifty50 ended at 10,717.80 points, up 2.30 points or 0.02 per cent.
Foreign institutional investors sold scrips worth Rs 97.15 crore, while the domestic institutional investors purchased stocks worth Rs 923.25 crore, provisional data with the exchanges showed.
Latest Updates
Sectoral trend at close
Source: NSE
Market update
At 14:23 pm, Sensex was trading at 35,353, up 136.78 points, while Nifty50 was ruling at 10,754, up 36.70 points.
Flipkart-Walmart deal fallout: These stocks will gain, but others set to lose
Walmart Inc, world's largest retailer is all set to clinch a mammoth deal to buy a majority stake in Indian e-retailer for roughly $15 billion. The deal, which will see some of the biggest investors in Flipkart offloading their stake in the country's largest e-commerce company, could be announced any day now. Japan's SoftBank Group Corp and Tiger Global Management are said to be selling almost all of their about 20 per cent stake each in Flipkart. Accel Partners, Tencent and Naspers also have stakes in Flipkart.
Sensex heatmap at open
Source: BSE
FAST MONEY: Here are key intraday trading tips:
Chennai Petro (Sell)
Target: Rs 294
Stoploss: Rs 308
- America-Iran nuclear deal over
- US President Donald Trump announced the closure of deal
- Crude supply for the company from Iran may take a hit
Wall Street on Tuesday
Wall Street cut losses to end little changed on Tuesday while energy stocks rallied after US President Donald Trump said the United States would quit the Iran nuclear deal, confirming what many investors had expected. In a televised speech, Trump said the United States would withdraw from a 2015 international agreement designed to deny Tehran the ability to build nuclear weapons, and also reinstate sanctions on Iran.
The S&P energy sector erased earlier losses to end the day up 0.78 percent as oil prices reduced earlier declines on bets that the sanctions would disrupt global crude supplies. The Dow Jones Industrial Average ended 0.01 percent higher at 24,360.21, while the S&P 500 ended down 0.03 percent to 2,671.92. The Nasdaq Composite added 0.02 percent to 7,266.90.
The Sensex and Nifty ended on a flat-to-positive note on Tuesday, as weak global cues affected investor sentiment. A heavy selling pressure witnessed in late afternoon dealings in consumer durables and capital goods stocks trimmed the overall gains made earlier in the day. The Sensex, which kicked off trade at 35,349.85 points, closed at 35,216.32 points, up 8.18 points or 0.02 per cent, while broader Nifty50 closed at 10,717.80 points, up 2.30 points or 0.02 per cent.
Good Morning!
Welcome to Zee Business market liveblog.