Indian Markets: Sensex Gains 172.69 Points To End At 40,412.57, Nifty Closes Above 11,900

Domestic equity indices Sensex and Nifty on Wednesday closed on a positive note. It is to be noted that the BSE benchmark Sensex finished 172.69 points or 0.43 per cent higher at 40,412.57. Similarly, the 50-scrip NSE Nifty appreciated 53.35 points or 0.45 per cent to close at 11,910.15.

According to a report of PTI, NTPC, ONGC, Zee Entertainment, GAIL, Tech Mahindra, Kotak Bank, TCS, Asian Paints, IndusInd Bank, Bajaj Finserv, and Tata Motors were the top gainers in the Sensex pack. On the other hand, Yes Bank topped the laggard's list for the second straight day, plunging 15.33 per cent. Vedanta, Hero MotoCorp, L&T, Bharti Airtel and HUL also tumbled up to 1.63 per cent.

In the meantime, the rupee appreciated by 14 paise to trade at 70.78 against the US dollar (intra-day). Brent futures, the global oil benchmark, slipped 0.40 per cent to USD 64.08 per barrel.

The Asian Development Bank (ADB) on Wednesday trimmed its forecast for India's economic growth in 2019-20 to 5.1 per cent, saying consumption was affected by slow job growth and rural distress aggravated by poor harvest.

The ADB said, "India's growth is now seen at a slower 5.1 per cent in fiscal year 2019-20 as the foundering of a major non-banking financial company in 2018 led to a rise in risk aversion in the financial sector and a credit crunch.” Also, consumption was affected by slow job growth and rural distress aggravated by a poor harvest," it added.

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In early trade, Market benchmark BSE Sensex climbed 74 points backed by gains in select private bank, financial and metal stocks amid easing global crude prices. The 30-share index was trading 74.04 points or 0.18 per cent higher at 40,313.92 in morning trade. The broader Nifty was trading 29.50 points or 0.25 per cent up at 11,886.30.

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