Sensex manages to close higher after choppy trade; GDP numbers eyed

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Published: August 31, 2017 4:19:03 PM

Indian stock markets which opened almost flat and traded weak through the day managed to close higher on Thursday. BSE Sensex advanced over 100 points in the last 30 minutes of trade closed 84 points higher at 31,730.49 points.

Wipro advanced 1.8% to the day’s high of Rs 296.9 on BSE.

Indian stock markets which opened almost flat and traded weak through the day managed to close higher on Thursday. Today the market participants are keenly awaiting the GDP numbers for the second quarter of this year, which slowed the trading activity. The value buying in the shares of heavyweight companies such as Reliance Industries, HDFC, and Maruti Suzuki pushed the benchmark indices to close higher. BSE Sensex advanced over 100 points in the last 30 minutes of trade closed 84 points higher at 31,730.49 points while NSE Nifty inched up 33 points to close at 9,917.9 points.

The shares of blue-chip companies such as Reliance Industries, HDFC, Maruti Suzuki, HDFC Bank, and Hindustan Unilever contributed the most in the index up surge. Collectively these five stocks added around 118 points to the benchmark Sensex. Shares of Wipro (up 2.54%), Bajaj Auto (up 2.24%), Reliance Industries (up 1.88%), Maruti Suzuki (up 1.67%), Cipla (up 1.44%), and Asian Paints (up 1.29%) were among the top gainers on the 30-share barometer today.

Wipro shares supported the index to trim losses due to slump in shares of rival companies Infosys and TCS. The stock of India’s third-largest software services firm Wipro is one of the top gainers on the 30-share barometer on Thursday as its shareholders have approved the company’s Rs 11,000-crore buyback proposal. Wipro advanced 1.8% to the day’s high of Rs 296.9 on BSE.

The stock market activity on the Dalal Street was quite muted today, as the benchmark Sensex hovered in negative territory till the mid-morning trade. However, the 30-share barometer recovered marginally and inched higher in the last 30 minutes of trade.

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