Indian stock markets finally ended on a positive note on Thursday after seven days with Sensex scaling as many as 330 points to finish in green after seven days as an uptick in shares of Infosys, HDFC, Sun Pharma, SBI and Reliance Industries boosted the key equity indices.
Indian stock markets finally ended on a positive note on Thursday after seven days with Sensex scaling as many as 330 points to finish in green after seven days as a sharp uptick in shares of Infosys, Sun Pharma, SBI, HDFC and RIL boosted the key equity indices, also all of the sectoral indices concluded up today. The S&P BSE Sensex gained as much as 330.45 points or 0.97% to close at 34,413.16 and NSE Nifty added 100.15 points or 0.96% to conclude at 10,576.85. On Thursday, the volatility in the market dipped relatively as the volatility indicator, India Vix shed 8.69% to close at 17.7725. Indian equities ended in a positive territory after an extended dull activity in last seven days due to Budget 2018 implications, global sell-off and uncertainties over RBI’s last policy meeting in FY18.
Shares of Cipla, Ambuja Cements, Sun Pharma, Bharti Infratel, Indiabulls Housing Finance, Dr Reddy’s, SBI, UPL, Infosys, UltraTech Cement, Bosch, Tata Steel, HUL, HDFC, HPCL, RIL, Maruti Suzuki, Kotak Mahindra Bank, M&M and Yes Bank emerged as the major gainers among the Nifty 50 components rising 1-9% while shares of Aurobindo Pharma, ONGC and NTPC slumped 0.6-2.5%. The heavyweight shares of companies such as Infosys, HDFC, Sun Pharma, SBI, Reliance Industries, Axis Bank, L&T, HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Maruti Suzuki and HUL contributed the most to the Sensex gains. Collectively these 12 stocks added about 312 points to the index while a marginal decline in stocks of ITC, Power Grid and Tata Motors capped the upsurge.
Indian markets at glance
All the sectoral and broader indices settled in green following a market-wide recovery in domestic markets. Among the broader market indices of NSE, other than Nifty 50, Nifty Next 50, Nifty 100, Nifty 200, Nifty 500, Nifty Mid100 Free Nifty, Midcap 50 and Nifty Sml100 advanced 1-3%. On the other hand, all of the 11 sectoral indices of NSE posted decent upside with Nifty Realty, Nifty Pharma, Nifty IT, Nifty Bank, Nifty Metal, Nifty Auto, Nifty Media, Niftu Fin Service, Nifty PSU Bank and Nifty Pvt Bank leading the charge rising 0.8-3% while Nifty FMCG rose minimally. During the day, BSE Sensex zoomed as much as 551.64 points to hit the day’s high of 34,634.35 while Nifty advanced 161.1 points to mark the day’s high of 10,637.8 on Thursday.
Asian stock markets on Thursday
Among the regional Asian stock markets, Japan’s Nikkei 225 index rose 1.1% to 21,890.86, South Korea’s Kospi gained 0.5% to 2,407.62, Hong Kong’s Hang Seng index spiked 0.4% to 30,451.27, China’s Shanghai Composite index fell 1.4% to 3,262.05 while Australia’s S&P/ASX 200 added 0.2% to 5,890.7.
US stock markets on Wednesday
US stocks closed lower in an up-and-down session on Wednesday, dragged down by tech and energy shares, as investors adjusted to a more volatile market following wild swings of the past few sessions, Reuters said in a report. The Dow Jones Industrial Average fell 19.7 points or 0.08% to 24,893.07, the S&P 500 lost 13.51 points or 0.5% to 2,681.63 and the Nasdaq Composite dropped 63.90 points or 0.9% to 7,051.98.