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Sensex closes 85 points higher, Nifty holds 18,250; metal shares lead gains

Sensex closes 85 points higher, Nifty holds 18,250; metal shares lead gains

Sensex rose 85 points to 61,235 and Nifty ended 45 points higher at 18,257. Tata Steel, Sun Pharma and L&T were the top Sensex gainers, rising up to 6.35%.

Wipro, Asian Paints , HDFC Bank, IndusInd Bank and Kotak Bank were among the top Sensex losers, falling up to 6%. Wipro, Asian Paints , HDFC Bank, IndusInd Bank and Kotak Bank were among the top Sensex losers, falling up to 6%.

The Indian equity market closed in the green for the fifth consecutive session today with the start of the earnings season. Sensex rose 85 points to 61,235 and Nifty ended 45 points higher at 18,257. Tata Steel, Sun Pharma and L&T were the top Sensex gainers, rising up to 6.35%.

Wipro, Asian Paints , HDFC Bank, IndusInd Bank and Kotak Bank were among the top Sensex losers, falling up to 6%. Market cap of BSE-listed firms rose to Rs 278.14  lakh crore. Of 30 Sensex shares, 20 ended in the green.

Market breadth was positive with 1,736 stocks ending higher against 1,683 stocks closing lower on BSE. 80 shares were unchanged.

BSE mid cap and small cap indices rose 97 points and 151 points, respectively. Banking shares were the top sectoral losers with BSE bankex falling 297 points to 43,923. BSE metal index was the top sectoral gainer, rising 758 points to 26,371.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said, "The hourly chart shows that the index is trading near lower end of a rising channel, which is near 18160. Below that, a recent gap area of 18081 - 18128 will be the key support to watch out for. The short term trajectory can remain positive as long as the index trades above these supports & the Nifty can test its weekly upper Bollinger Band near 18400. On the other hand, breach of these supports will be an indication of exhaustion in the trend from short term perspective."

On Wednesday, the Indian equity market closed in the green for the fourth consecutive session ahead of the Q3 earnings season. Sensex rose 533 points to 61,150 and Nifty ended 156 points higher at 18,212. M&M, Bharti Airtel and RIL were the top Sensex gainers, rising up to 4.68%.

Foreign institutional investors (FIIs) sold shares worth Rs 1,001 crore on January 12, and domestic institutional investors (DIIs) lapped up shares worth Rs 1,332 crore, as per provisional data available on NSE.

Global markets

Germany's DAX fell 0.2% to 15,973.58 while the CAC 40 in Paris sank 0.6% to 7,196.23. In Britain, the FTSE 100 lost 0.3% to 7,533.13. On Wall Street, the futures for the S&P 500 and for the Dow industrials were down less than 0.1%.
Tokyo's Nikkei 225 index dropped 1% to 28,489.13, while the Shanghai Composite shed 1.2% to 3,555.26. In Seoul, the Kospi lost 0.4% to 2,962.09. The Hang Seng in Hong Kong edged 0.1% higher, to 24,429.77 and the S&P/ASX 200 in Australia added 0.5% to 7,474.40.