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Sensex ends 153 points higher despite weak global cues

Sensex ends 153 points higher despite weak global cues

Sensex ended 153 points higher at 57,260 and Nifty gained 27 points to 17,053.

Kotak Bank was the top Sensex gainer, soaring 2.92 per cent, followed by HCL Tech, TCS, Titan, Bajaj Finance and Reliance Industries. Kotak Bank was the top Sensex gainer, soaring 2.92 per cent, followed by HCL Tech, TCS, Titan, Bajaj Finance and Reliance Industries.

Indian market closed higher in volatile trade today, backed by gains in Reliance Industries, Kotak Bank and HCL Tech. Sensex ended 153 points higher at 57,260 and Nifty gained 27 points to 17,053. Kotak Bank was the top Sensex gainer, soaring 2.92 per cent, followed by HCL Tech, TCS, Titan, Bajaj Finance and Reliance Industries.

Sun Pharma, NTPC,  and Axis Bank were among the top Sensex losers, falling up to 2.03%. Of 30 Sensex stocks, 13 ended higher. BSE mid-cap and small-cap indices fell 230 points to 24,615 and 532 points to 27,538, respectively.

Consumer durables and IT shares were the top gainers with their BSE indices  rising 227 points and 220 points, respectively. Market cap of the BSE-listed firms fell to Rs 256.94 lakh crore today against Rs 258.21 lakh crore in the previous session.

The market breadth was negative with 966 shares ending higher against 2,435 stocks in the red. 174 shares were unchanged.

Shrikant Chouhan, head of equity research (retail), Kotak Securities said, "Markets saw a roller coaster ride intra-day but eventually ended on the higher side. Investors are trading with caution, especially after reports of a rising threat of a new South African coronavirus variant. For day traders, Nifty has support at 16,950, and above the same, a pullback rally could lift the index up to 100 day simple moving average or 17115. If the move continues, the index may rise up to 17200. On the flip side, the dismissal of 16950 could possibly open one more correction leg up to 16,830-16,780 levels."

In early trade today, Sensex declined over 550 points to 56,539.93 and Nifty slipped 140 points to 16,879.

On Friday, Sensex ended 1,687 points lower at 57,107 and Nifty lost 509 points to 17,026. Investors lost Rs 7.45 lakh crore during the trading session. IndusInd Bank, Maruti, Tata Steel, NTPC and Bajaj Finance were the top Sensex losers, falling up to 6.01%.

Foreign institutional investors (FIIs) sold shares worth Rs 5,785.83 crore on November 26, and domestic institutional investors (DIIs) bought shares worth Rs 2,294.11 crore, as per provisional data available on NSE.

Meanwhile, the rupee fell 23 paise to close at 75.12 against the US dollar, as investors turned cautious in view of a new variant of COVID-19.

At the interbank foreign exchange market, the local currency opened at 74.84 and clocked an intra-day high of 74.82 and a low of 75.16 against the US dollar in a highly volatile trading session.

Asian stock markets declined further after governments imposed travel controls due to the spread of the new coronavirus strain.

The Nikkei 225 in Tokyo fell 1.7 per cent after Japan announced an entry ban on foreigners from Tuesday. The Shanghai Composite Index dropped 0.4 per cent and the Hang Seng in Hong Kong tumbled 1.2 per cent. The Kospi in Seoul declined 0.9 per cent and Sydney's S&P-ASX 200 fell 0.5 per cent.

Meanwhile, Brent crude jumped $2.82 to $74.41 per barrel in London.

Published on: Nov 29, 2021, 4:28 PM IST
Posted by: Aseem Thapliyal, Nov 29, 2021, 4:22 PM IST