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Sensex ends 84 points higher in choppy trade, banking stocks lead losses

Sensex closed 84.45 points higher at 49,661 and Nifty gained 54 points to 14,873

twitter-logoBusinessToday.In | April 9, 2021 | Updated 08:57 IST
Sensex ends 84 points higher in choppy trade, banking shares lead losses
Top Sensex gainers were UltraTech Cement, Titan, Tech Mahindra, Nestle India, TCS, Bajaj Finserv and L&T rallying up to 4.24 per cent.

Benchmark indices ended higher in choppy trade today as rising coronavirus cases and restrictions across the country kept investors on the edge. Sensex closed 84.45 points higher at 49,661 and Nifty gained 54 points to 14,873. Top Sensex gainers were UltraTech Cement, Titan, Tech Mahindra, Nestle India, TCS, Bajaj Finserv and L&T rallying up to 4.24 per cent.

IndusInd Bank, ONGC, Sun Pharma, HDFC Bank and Axis Bank were the top Sensex losers falling up to 1.07%.

On Wednesday, Benchmark indices ended nearly 1% higher each today after Reserve Bank of India kept lending rates unchanged to support the economy amid the second wave of coronavirus.  Sensex closed 460 points higher at 49,661 and Nifty gained 135 points to 14,819.

Vinod Nair, Head of Research at Geojit Financial Services said, "Domestic market continued its optimistic rally supported by dovish monetary policy though it witnessed consolidation during the second half due to selling in banking stocks. Metal stocks led the sectorial rally on a strong outlook supported by rising steel prices and production. Q4 earnings season has started and the market is expected to have a stock centric rally in the coming days which has a very broad positive view."

Financial stocks witnessed profit booking with BSE bankex slipping 227 points to 37,075. Bank Nifty lost 208 points to 32,782.

Top sectoral gainers were consumer durables stocks with their BSE index rising 833 points to 33,092. BSE metal index too rose 694 points to 16,338.

Of 19 BSE sectoral indices, 14 closed in green.

Meanwhile, BSE midcap and small cap indices ended higher by 124 and 156 points, respectively.

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Investor wealth increased by Rs 1.18 lakh crore as market cap of BSE listed firms rose to Rs 209.44 lakh  crore in trade today against  Rs 208.26 lakh crore in the previous session.

Market breadth was positive with 1,857 stocks rising against 1,061 falling on BSE. Total 167 stocks were unchanged.  

However, the rupee fell for the fourth straight session and settled 11 paise lower at 74.58 against the US dollar on Thursday. On Wednesday, the currency tanked 105 paise to close at 74.47 against the US currency after the number of new coronavirus cases in India hit a record daily high of over 1.15 lakh.

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By Aseem Thapliyal

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