Sensex ends above 60K for second straight session, Nifty holds 17,950; banking shares gain
Sensex climbed 37.87 pts to 60,298 and Nifty gained 12 pts to 17,956. Of 30 Sensex stocks, 15 ended in the green today. Kotak Bank, L&T and Bharti Airtel were the top Sensex gainers, rising up to 3.75 per cent.
- Aug 18, 2022,
- Updated Aug 18, 2022 4:26 PM IST
Sensex closed above the 60K mark for the second consecutive session today despite negative global cues. Sensex climbed 37.87 pts to 60,298 and Nifty gained 12 pts to 17,956. Of 30 Sensex stocks, 15 ended in the green today. Kotak Bank, L&T and Bharti Airtel were the top Sensex gainers, rising up to 3.75 per cent.
Dr Reddy's, Wipro, Infosys and M&M were the top Sensex losers, falling up to 2.18 per cent. Mid-cap and small-cap indices on BSE gained 104 points and 95 points, respectively.
Deepak Jasani, Head of Retail Research, HDFC Securities said, "Nifty made a double top compared to the previous session but ended marginally higher. Large volumes and range move mean that a lot of churning seems to be happening between sectors and stocks. With no reversal signs on the horizon, Nifty could rise towards 18,115 over the next few sessions. On the other hand, a breach of 17,833 could mean faster downsides."
Share Market update: Sensex, Nifty close higher; Kotak Bank, L&T top gainers
Banking and capital goods stocks were the top sectoral gainers with their BSE indices zooming 305 points and 282 pts, respectively.
Market breadth was positive with 1,905 stocks ending higher against 1,489 stocks falling on BSE. 146 shares were unchanged.
Vinod Nair, Head of Research at Geojit Financial Services said,"Following the release of the Fed minutes, domestic equities experienced profit booking amid weak sentiment from global peers. The minutes showed that even while decision-makers were concerned about the impact of aggressive actions, they were in favour of raising rates further. In the domestic market, IT and pharma were the major laggards, responding to the fall in the US stocks, while financials maintained their support."
Market cap of BSE-listed firms rose to Rs 280.57 lakh crore.
Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 2,347.22 crore on Wednesday, as per exchange data.
Previous session
Sensex closed above the 60K mark after four months on Wednesday amid positive global cues. Sensex climbed 418 pts to 60,260 and Nifty gained 119 pts to 17,944. Bajaj twins, Bharti Airtel and Tech Mahindra were the top Sensex gainers, rising up to 5.74 per cent.
Global markets
Markets declined in London, Shanghai, Tokyo and Hong Kong declined. Frankfurt opened higher. In Asia, the Shanghai Composite Index lost 0.5 per cent to 3,277.54 and the Nikkei 225 in Tokyo fell 1 per cent to 28,942.14. The Hang Seng in Hong Kong sank 0.8 per cent to 19,763.91.
The Kospi in Seoul retreated 0.3 per cent to 2,508.05 and Sydney's S&P-ASX 200 was down 0.2 per cent at 7,112.80.
Sensex closed above the 60K mark for the second consecutive session today despite negative global cues. Sensex climbed 37.87 pts to 60,298 and Nifty gained 12 pts to 17,956. Of 30 Sensex stocks, 15 ended in the green today. Kotak Bank, L&T and Bharti Airtel were the top Sensex gainers, rising up to 3.75 per cent.
Dr Reddy's, Wipro, Infosys and M&M were the top Sensex losers, falling up to 2.18 per cent. Mid-cap and small-cap indices on BSE gained 104 points and 95 points, respectively.
Deepak Jasani, Head of Retail Research, HDFC Securities said, "Nifty made a double top compared to the previous session but ended marginally higher. Large volumes and range move mean that a lot of churning seems to be happening between sectors and stocks. With no reversal signs on the horizon, Nifty could rise towards 18,115 over the next few sessions. On the other hand, a breach of 17,833 could mean faster downsides."
Share Market update: Sensex, Nifty close higher; Kotak Bank, L&T top gainers
Banking and capital goods stocks were the top sectoral gainers with their BSE indices zooming 305 points and 282 pts, respectively.
Market breadth was positive with 1,905 stocks ending higher against 1,489 stocks falling on BSE. 146 shares were unchanged.
Vinod Nair, Head of Research at Geojit Financial Services said,"Following the release of the Fed minutes, domestic equities experienced profit booking amid weak sentiment from global peers. The minutes showed that even while decision-makers were concerned about the impact of aggressive actions, they were in favour of raising rates further. In the domestic market, IT and pharma were the major laggards, responding to the fall in the US stocks, while financials maintained their support."
Market cap of BSE-listed firms rose to Rs 280.57 lakh crore.
Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 2,347.22 crore on Wednesday, as per exchange data.
Previous session
Sensex closed above the 60K mark after four months on Wednesday amid positive global cues. Sensex climbed 418 pts to 60,260 and Nifty gained 119 pts to 17,944. Bajaj twins, Bharti Airtel and Tech Mahindra were the top Sensex gainers, rising up to 5.74 per cent.
Global markets
Markets declined in London, Shanghai, Tokyo and Hong Kong declined. Frankfurt opened higher. In Asia, the Shanghai Composite Index lost 0.5 per cent to 3,277.54 and the Nikkei 225 in Tokyo fell 1 per cent to 28,942.14. The Hang Seng in Hong Kong sank 0.8 per cent to 19,763.91.
The Kospi in Seoul retreated 0.3 per cent to 2,508.05 and Sydney's S&P-ASX 200 was down 0.2 per cent at 7,112.80.