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Sensex snaps three-day losing streak, Nifty ends above 17,900; banking, IT shares top gainers

Sensex snaps three-day losing streak, Nifty ends above 17,900; banking, IT shares top gainers

Sensex closed 831.53 points or 1.40 per cent higher at 60,138.46. Nifty rose 258 points or 1.46 per cent to 17,929.65.

IndusInd Bank was the top Sensex gainer, soaring up to 7.75 per cent, followed by Bharti Airtel, HCL Tech, Tata Steel, Tech Mahindra and Dr Reddy's. IndusInd Bank was the top Sensex gainer, soaring up to 7.75 per cent, followed by Bharti Airtel, HCL Tech, Tata Steel, Tech Mahindra and Dr Reddy's.

Benchmark indices ended higher today after three straight sessions of losses amid positive global cues. Sensex reclaimed the 60,000 level, led by gains in index majors Infosys, HDFC twins and TCS.

Sensex closed 831.53 points or 1.40 per cent higher at 60,138.46. Nifty rose 258 points or 1.46 per cent to 17,929.65.

IndusInd Bank was the top Sensex gainer, soaring up to 7.75 per cent, followed by Bharti Airtel, HCL Tech, Tata Steel, Tech Mahindra and Dr Reddy's.

M&M, Bajaj Finserv, Nestle India and Reliance Industries were the top Sensex losers, falling up to 1.56%. Of the 30 Sensex shares, 26 ended higher .

Market cap of BSE-listed firms rose to Rs 262.84 lakh crore today. On Friday, the market cap stood at Rs 259.20 lakh crore. Benchmark indices ended lower for the third straight session on Friday amid negative global cues. Sensex plunged 677.77 points or 1.13 per cent to close at 59,306.93 and Nifty fell 185.60 points or 1.04 per cent to 17,671.65.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, "Nifty is now heading towards the 18,000 mark, which is a key level to watch out for. If the bulls manage to cross that level on a closing basis, then the short-term range will again shift higher. Beyond 18,000, a falling trendline near 18,180 will be the subsequent level to watch out for. On the downside, 17,850-17,800 will act as an immediate support zone."

BSE mid-cap and small-cap indices rose 442 points and 310 points, respectively.

On the sectoral front, banking , consumer durables, IT and metal stocks led the gains today. BSE bankex zoomed 767 points and consumer durables index gained 768 points.

BSE IT and metal indices zoomed 739 points and 654 points, respectively. All 19 sectoral  indices ended in the green. The market breadth was positive with 2,160 shares ending higher against 1,148 stocks closing in the red. 193 shares were unchanged.

Meanwhile, rupee ended flat today. The currency pared its initial losses to settle marginally up by 1 paisa at 74.87 against the US dollar following a firm trend in the domestic equities. At the interbank foreign exchange market, the domestic unit opened on a weak note and slipped below the 75 per dollar mark.

On Friday, the rupee had closed at 74.88 against the US dollar.

Global markets

Germany's DAX rose 0.6% to 15,774.76 and in Paris, the CAC 40 added 0.5% to 6,863.04. Britain's FTSE 100 gained 0.4% to 7,268.63. The futures for the Dow industrials and the S&P 500 were 0.2% higher.

The gains come after the three major indexes in the US set records.

On Friday, the S&P 500 rose 0.2%; the Dow Jones Industrial Average gained 0.3% and the Nasdaq closed 0.3% higher.

In Asia, Tokyo's Nikkei 225 index surged 754 points to 29,647.08, while the Kospi in Seoul gained 0.3% to 2,978.94. In Sydney, the S&P/ASX 200 picked up 0.6% to 7,370.80. The Shanghai Composite index edged 0.1% lower, to 3,544,48. Meanwhile, international oil benchmark Brent crude rose 0.82 per cent to $84.41 per barrel.

Published on: Nov 01, 2021, 5:10 PM IST
Posted by: Aseem Thapliyal, Nov 01, 2021, 4:59 PM IST