Share market today: Sensex and Nifty — the benchmark indices of the domestic equity markets — snapped a four-day losing streak to close Wednesday’s trade higher riding on a strong rupee, lower crude oil prices and healthy buying in most realty, NBFCs, metals, and FMCG stocks. Bharti Airtel shares ended nearly 10% higher. On the other hand, Bajaj Auto shares fell nearly 5% post Q2 results.
The benchmark indices opened Wednesday’s trade on a higher note tracking a strong rupee amid falling crude prices. The rupee opened strong in the early trade Wednesday, gaining 40 paise to 73.17 per US dollar versus its previous close at 73.57 against the greenback. The BSE Sensex had surged over 450 points to scale an intra-day high of 34,300.97 points in opening trade on Wednesday. The NSE Nifty opened firmly above the 10,250-level at 10,278.15 points.
The BSE Sensex closed Wednesday’s trade 186.73 points or 0.55% higher at 34,033.96 points. HDFC, Bharti Airtel, LT, IndusInd Bank, and Asian Paints together contributed over 200 points to the index. The BSE market breadth was marginally bullish, with 1,363 advances and 1,204 declines. On the National Stock Exchange, the Nifty closed 77.95 points or 0.77% higher at 10,224.75 points.
In the global markets, world stocks marked a sixth-straight day loss as fears about global economic growth kept sentiment fragile, with Wall Street tipped for a weak open and oil prices languishing near two-month lows. European shares opened higher, taking a cue from Asia where MSCI’s Asian ex-Japan index closed flat following a bounce in China where local media reported authorities were mulling allowing insurance firms to invest in equities, said a Reuters report. Meanwhile, crude oil prices fell towards $75 a barrel to its lowest since late August.