Share market HIGHLIGHTS: Buoyed by healthy buying in index heavyweights like Infosys, Tata Consultancy Services, IndusInd Bank, Maruti Suzuki and SBI, among others, the Sensex and Nifty gained for the second consecutive day, despite weak global cues and depreciation in the rupee. According to market observers, some caution prevailed ahead of derivatives expiry and the release of India’s gross domestic product data for the September quarter later this week. Yes Bank shares closed lower by 2.5% after ratings agency Moody’s downgraded the private bank and changed outlook to negative.
BSE Sensex closed today’s trade 159.06 points or 0.45% higher at 35,513.14 points. The NSE Nifty ended at 10,685.60 points, up 57 points or 0.54%. The benchmark domestic equity indices — which started on a tepid note — shrugged off their earlier losses and moved into the positive territory during the mid-afternoon trade session today. Gains were led by healthy buying in most banking, IT and realty stocks. However, profit booking in pharma, metals, media and FMCG indices capped gains.
Meanwhile, global stock markets fought to keep a rebound alive on Tuesday after U.S. President Donald Trump seemed to quash hopes of a trade truce with China, clouding what had been a bright start to the week, said a Reuters report. The pan-European STOXX 600 benchmark was down 0.1%, pulling back from a one-week high hit in the previous session. Japan’s Nikkei managed to add 0.65% and Chinese blue chips rose 0.4%. Oil prices slipped, weighed down by record Saudi Arabian production even as OPEC’s top producer pushes for supply cuts ahead of the group’s meeting in Austria next week.