Sensex and Nifty finally closed in green snapping the four consecutive days of heavy sell-off on Thursday.
Sensex and Nifty finally closed in green snapping the four consecutive days of heavy sell-off on Thursday. BSE Sensex added 182 points to hit the day’s high of 31,340.91 points before closing up 123 points at 31,282.48 points. NSE Nifty gained 54 points to mark the day’s high of 9,789.2 points before finishing 33 points higher at 9,769 points. The global stock markets were mostly higher on Thursday as investors tried to gauge the impact of the tax reform plan unveiled by US President Donald Trump. However, since Friday last week, the 30-share barometer Sensex has lost 1087 points.
Shares of Kotak Mahindra Bank (up 2.62%), Dr Reddy’s Laboratories (up 2.42%), Coal India (up 2.32%), Maruti Suzuki (up 2.11%), Cipla (up 2.05%), and Axis Bank (up 1.24%) were the top gainers on the benchmark Sensex while Asian Paints (down 2.73%), Reliance Industries (down 1.48%), Wipro (down 0.95%), Bharti Airtel (down 0.77%) lost the ground. The value buying in stocks of heavyweight companies such as HDFC, Kotak Mahindra Bank, HDFC Bank, ITC, Maruti Suzuki, and Axis Bank contributed the most to the Sensex up surge. Collectively these six stocks alone added about 157 points out of 123 point gains in the index while Asian Paints and Reliance Industries capped the gains.
Meanwhile, Asian markets finished mixed. Japan’s Nikkei rose 0.5% to 20,363.11 points, South Korea’s Kospi ended flat at 2,373.14 points, Hong Kong’s Hang Seng index slipped 0.8% to 27,421.6 points and China’s Shanghai Composite Index fell 0.2% to 3,339.64 points.
The key equity indices Sensex and Nifty gained slightly to open higher but within a minute of trading both fell into negative territory, marking the eighth consecutive day of sell-off. BSE Sensex gained about 56 points to open at 31,216.36 points, but immediately after one minute drifted down, losing 80 points to hit the day’s low of 31,081.83 points while NSE Nifty started flat, inched down in a couple of minutes and shed 48 points to mark the day’s low of 9,687.55 points.