Buying in the last hour of trade helped benchmark indices BSE Sensex and NSE Nifty snap two-day losing streak after oscillating between gains and losses on Wednesday. The 30-share index settled 18.69 points up at 28372.23, while Nifty 50 index closed 11 points higher at 8726.60. In the Nifty 50 index, Bank of Baroda, YES Bank, Tata Motors DVR, Adani Ports and ACC gained 4.20 per cent, 4.06 per cent, 2.88 per cent, 2.77 per cent and 2.46 per cent, respectively. On the other hand, Bosch, Coal India, ONGC, TCS and Sun Pharma slipped by 2.03 per cent, 1.65 per cent, 1.16 per cent, 1.15 per cent and 1 per cent, respectively.
Barring, the BSE IT index (down 0.67 per cent) and BSE TECk index (down 0.41 per cent), rest all other sectoral indices ended the day in green. The BSE Consumer Durables, BSE Bankex, BSE Auto and BSE Telecom index gained 1.12 per cent, 0.77 per cent, 0.57 per cent and 0.56 per cent, respectively.
Jayant Manglik, president, retail distribution, Religare Securities said, “Nifty spent the entire day in a narrow range after the recent slide and ended marginally higher, tracking recovery in select index majors in late hours. Initially, mixed set of macroeconomic data was weighing on the sentiments along with weak Asian markets. But, building hopes on possible rate cut by the RBI post the recent inflation figures capped the downside. And, positive opening of the European markets also aided to the recovery.”
Other Asian peers also ended in red on Wednesday following the overnight decline in US markets on doubts over central banks’ willingness or ability to boost growth through ultra-easy monetary policies. Hang Seng, Nikkei and Shanghai closed down by 0.11 per cent, 0.69 per cent and 0.68 per cent at 23,190.64, 16,614.24 and 3,002.85.