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Sensex ends 179 points higher, Nifty above 10,700; bank and capital goods stocks lend support

The BSE SENSEX closed 179 points higher at 35649, while the NSE Nifty settled at 10729, up by 66 points.

twitter-logoBusinessToday.In | December 26, 2018 | Updated 17:20 IST
Sensex ends 179 points higher, Nifty above 10,700; bank and capital goods stocks lend support

The Indian benchmark indices closed higher in see-saw trade on Wednesday, helped by buying across banking and capital goods space, undermining weak cues from Asian peers. Overseas, Asian markets closed lower after President Donald Trump said that there was "nothing new" in efforts to end the partial government shutdown over a US-Mexico border wall.

The BSE SENSEX closed 179.79 points, or 0.51 per cent higher at 35649.94, while the NSE Nifty settled at 10729.85, up by 66.35 points, or by 0.62 per cent. During the day's trade, the Sensex touched intraday high and low 35711.26 and 35010.82, respectively. The NSE Nifty touched intraday high of 10747.5 and intraday low of 10534.55.

Bucking the trend, the broader markets ended marginally lower, with MidCap and SmallCap indices falling as much as 0.01 per cent and 0.21 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was weak. Out of 2894 shares traded, 1183 advanced, 1538 declined and 173 remained unchanged.

Also Read: Why Vadilal Industries stock crashed up to 15% in trade today

The top gainers of the BSE Sensex pack were Bharti Airtel, up 3.95 per cent at Rs 321.20, followed by HDFC Bank Ltd. (Rs. 2120.20,+1.73%), Housing Development Finance Corporation Ltd. (Rs. 1934.45,+1.71%), Larsen & Toubro Ltd. (Rs. 1422.50,+1.24%), Kotak Mahindra Bank Ltd. (Rs. 1249.65,+0.97%), among others.

On the flip side, Sun Pharmaceutical Industries, YES Bank, Tata Consultancy Services, NTPC and Tata Motors were among top losers on BSE.

Also Read: Maruti Suzuki stock falls amid recall of 5,900 Super Carry vehicles

On the sectoral front, bank and capital goods stocks emerged as top gainers on BSE, rising as much as 0.83 per cent and 0.69 per cent.

Among others, stocks of aviation and oil marketing companies rose as crude prices fell to $50 per barrel. SpiceJet and Jet Airways rose up to 2 per cent, while IOC and BPCL gained up to 1 per cent.

Shares of Brigade Enterprises rallied 14 per cent on the Bombay Stock Exchange (BSE) following a rating upgrade to "Buy" at Motilal Oswal Securities. Motilal Oswal Securities on Monday initiated coverage with a "Buy" rating and a Sum-of-the-parts (SOTP)-based target price of Rs 282 (37% upside).

Also Read: Brigade Enterprises share hits 6-month high; soars 36% in two months

Rupee was trading at 70.12, up 27 paise, against US dollar amid increased selling of the US currency by exporters and banks.

Wall Street was closed on account of Christmas yesterday. US stocks are headed for their worst December since the Great Depression in 1931.

Edited by Chitranjan Kumar

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