Sensex nudges higher in range-bound trade, Nifty below 10,900 levels
Shares from banking, tech, power, energy and oil and gas sector were the top gaining stocks in intraday trade while their gains were pared by metal, auto and telecom stocks.
After trading range-bound in the range of 36,278 to 36,462 the BSE Sensex closed 2.96 points higher at 36,321.29 while Nifty 50-share index Nifty closed 3.5 points higher at 10,876. Shares from banking, tech, power, energy and oil and gas sector were the top gaining stocks in intraday trade while their gains were pared by metal, auto and telecom stocks.
Shares of Graphite India Ltd, KRBL, Gujarat Pipavav Port, Gateway Distriparks and Gujarat State Petronet were among the top gainers of Wednesday intraday trade while Jet Airways, Aditya Birla Fashion, Cummins India Ltd, Infibeam Avenues and Redington (India) Ltd were the top losing stock.
Oil and gas major BPCL gained by 1.61 per cent, Gail went up by 0.63 per cent, Indraprastha Gas shot up by near 0.7 per cent while Reliance Industries went 0.48 per cent higher from its previous close. Among banking sectoral stocks IndusInd Bank and Yes Bank were the top performers of the day. IndusInd Bank logged around 1.86 per cent gains while the Yes Bank strip shot up by 2.19 per cent. Among infra stocks Adani ports and Adani Transmissions posted gains of 1.17 per cent and 3.74 per cent respectively. Dilip Buildcon went up by more than 3 per cent. But MTNL was cente of attention as it posted near 4 per cent gains from its Tuesday close.
Simi Bhaumik, Technical Equity Analyst (registered with SEBI) told Zee Business online, "Nifty is trading range-bound between 10,700 to 10,900 levels. Any breach of lower of higher levels would decide to which way markets are lloking forward to." She told market ionvestors to keep an eye on fiscal deficit numbers in the economic survey and export numbers of China to remain safe in trading sessions to come.
Among major Asian bourses Nikkei went down by around 0.55 per cent but rest of the Asian indices went northward. Kospi went up by near 0.43 per cent, Hang Seng logged 0.27 per cent gains while the Shanghai index nudged 0.01 per cent higher.
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