The benchmark indices -- Sensex and Nifty -- on Thursday ended session with minor gains even as investors remain cautious on account of important RBI meeting.
The benchmark indices — Sensex and Nifty — on Thursday ended session with minor gains even as investors remain cautious on account of important RBI meeting. Sensex closed the session 150,57 points higher to 35,929.64, while the Nifty 50 closed below the psychological 10,800-level. Sensex this week gained 0.8 per cent, a net change of 290 points from December 7.
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FMCG, information technology and PSU bank stocks led the gains. However, the losses in finance and pharma capped the upside.
Rupee, bonds, forex market
“The rupee fell 21 paise against the dollar, to close at 71.90. This was the second consecutive weekly fall for the rupee on the back of year-end dollar outflow. U.S Dollar index has surpassed the crucial resistance of 97 and has been sustaining above it. Rising dollar index could put Asian market currencies under pressure. Dollar strengthened against Euro as ECB’s Mario Draghi lowered growth forecast for Europe”, VK Sharma, Head PCG & Capital Markets Strategy, HDFC Securities.
For the fourth week in a row, bond market saw gains as corporate bond issuances up by more than 12 percent month on month in November, highest in FY19. “Forex market is likely to remain volatile ahead of U.S, U.K and Japan meet for the monetary policy scheduled next week,” he added.