Market does it for Day 5, Sensex, Nifty close in the green

Domestic investors remained at the forefront of buying, but watched their steps after US Fed chief Janet Yellen's comments that the central bank is still inclined to raise interest rates gradually as it seeks to balance the risks of moving too fast and moving too slow.

Market does it for Day 5, Sensex, Nifty close in the green
Traders keep close track of stocks at the Bombay Stock Exchange headquarters. Photo: Zeebiz Team
By PTI
Updated: Wed, Nov 22, 2017
07:55 pm
Mumbai, PTI
RELATED NEWS
Anil Singhvi's Market Strategy October 16: Trend to be Neutral; Cement, Fertilizers and Chemicals are Positive today Anil Singhvi's Market Strategy October 16: Trend to be Neutral; Cement, Fertilizers and Chemicals are Positive today
Fabulous Friday for investors as Sensex rockets over 700 pts; 6 power points that explain uptrend Fabulous Friday for investors as Sensex rockets over 700 pts; 6 power points that explain uptrend
Modi govt strategy in place to tackle weakening rupee, widening CAD Modi govt strategy in place to tackle weakening rupee, widening CAD
Forget crashing Sensex, did you invest in these companies? They have defied negative trends Forget crashing Sensex, did you invest in these companies? They have defied negative trends
How to be a crorepati: If you had invested in this stock, you would have become one! It's still not too late How to be a crorepati: If you had invested in this stock, you would have become one! It's still not too late

The stock market closed on the upside today -- marking it Day 5 -- when upbeat Asian shares and a record close in the US created room for buoyancy.

For the Sensex, it was an over two-week high of 33,562, fuelled by infrastructure, PSU and auto stocks. Telecom, metal and healthcare came as dampeners.

Domestic investors remained at the forefront of buying, but watched their steps after US Fed chief Janet Yellen's comments that the central bank is still inclined to raise interest rates gradually as it seeks to balance the risks of moving too fast and moving too slow.

Asian markets extended a global rally following another record close on Wall Street on strong world growth and rising corporate earnings. Hong Kong stocks breached the 30,000 mark for the first time in 10 years.

The BSE Sensex started off on a high, moving higher to 33,654.53, but then closed the session up 83.20 points, or 0.25 per cent at 33,561.55 -- the highest closing since November 6. During the day, however, it moved into the loss zone for a while.

The gauge had gained 717.91 points in the previous four sessions as risk appetite returned after the Moody's last week India sovereign credit rating upgrade by a notch to 'Baa2'.

The broader Nifty scaled a high of 10,368.70, but profit- taking pulled it down as the index closed at 10,342.30, still up 15.40 points, or 0.15 per cent. Intra-day, it briefly slipped into the red to touch a low of 10,309.55.

Adani Ports was the star stock, jumping 3.27 per cent. Gains were also reported in HDFC Ltd, SBI, Asian Paints and Maruti Suzuki.
Shares of Future Retail rallied 11.68 per cent after the holding company Future Group said yesterday it planned to open 10,000 member-only stores by 2022.

Domestic institutional investors (DIIs) maintained their buy status as they purchased shares worth a net Rs 825.50 crore. Foreign portfolio investors (FPIs) sold equities worth a net Rs 727.01 crore yesterday, showed provisional data.

BSE infrastructure index jumped and so did auto, PSU and capital goods indices.

Broader markets were mixed, with BSE small-cap index rising 0.23 per cent and mid-cap down 0.05 per cent.

European markets were flat to higher in their early session as traders awaited the British government's annual budget. 

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close