News Nation Logo

Sensex, Nifty clock 2nd straight gains; IT, banking stocks in limelight

PTI | Updated on: 27 Nov 2018, 05:08:53 PM
Sensex, Nifty clock 2nd straight gains; IT, banking stocks in limelight (Representational Image)


The BSE benchmark Sensex rose for the second day, gaining over 150 points on hectic buying in banking and IT stocks as easing concerns on the macro-economic front bolstered investors’ risk appetite.

The broader NSE Nifty too witnessed a rise of 57 points.

Market sentiments were boosted by a host of positive factors including stable rupee, falling crude oil prices, subdued retail inflation and steps to improve liquidity situations. 

Both equity benchmarks Sensex and Nifty smartly recovered from day’s low towards the fag-end of the session, but global trade tensions ahead of G20 meet this week and mixed Asian peers kept participants cautious, restricting the gains on domestic bourses.

Also Read | Fuel prices continue downward trend; Check November 27 rates here

Analysts said that “risk element on inflation is subsiding with rise in oil production, strong rupee and drop in yield; CPI inflation is expected to be under the control range”.

The 30-share Sensex settled 159.06 points, or 0.45 per cent, higher at 35,513.14, while the broader NSE Nifty jumped 57 points, or 0.54 per cent, to finish at 10,685.60.

The rally was led by mainly IT and banking stocks. The government’s announcement of Rs 42,000 crore fund infusion in the state-owned banks by March-end kept the participants interested in buying banking stocks.T

Meanwhile, the rupee weakened slightly against the US dollar after US President Donald Trump suggested a further tariff hike on Chinese goods.

Read More | Maruti Suzuki Ertiga 2018 launched in India, all you need to know

Infosys, Reliance Industries, TCS, HDFC, HDFC Bank, Maruti, SBI, IndusInd Bank and Kotak Bank led the gains on the Sensex, rising up to 2.53 per cent.

While, Sun Pharma, Hero MotoCorp, Yes Bank, Wipro, Bajaj Auto, Bharti Airtel and Tata Steel fell up to 3.34 per cent.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 62.74 crore Monday and DIIs were net buyers to the tune of Rs 351.78 crore, provisional data available with the BSE suggested.

The broader markets too advanced with BSE Smallcap rising 0.43 per cent and BSE Midcap ending 0.32 per cent higher.

Elsewhere in Asia, Korea’s Kospi was up 0.79 per cent and Japan’s Nikkei rose 0.64 per cent. While, Hong Kong’s Hang Seng fell 0.17 per cent and Shanghai Composite Index was down 0.04 per cent.

In Europe, Frankfurt’s DAX was down 0.09 per cent, while Paris CAC 40 fell 0.05 per cent. London’s FTSE climbed 0.21 per cent.

For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.

First Published : 27 Nov 2018, 04:59:36 PM