Sensex ticks up after five sessions of falls

The Sensex after opening at 26,368.88 points and touched a high of 26,394.14 and a low of 26,318.59 points.

Published: 21st December 2016 10:09 AM  |   Last Updated: 21st December 2016 12:46 PM   |  A+A-


(File Photo | Reuters)

By Reuters

MUMBAI:  Indian shares edged higher on Wednesday after five consecutive sessions of declines, in line with Asian shares following a record-breaking session on Wall Street overnight.

The NASDAQ Composite rose to an all-time high while the Dow Jones industrial average flirted with the 20,000 mark, in a rally fuelled by optimism about U.S. President-elect Donald Trump's policies.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.31 percent on Wednesday.

Investors now keep an eye out for the minutes of the Reserve Bank of India's monetary policy committee (MPC) meeting earlier this month, expected later in the day, for clues about the economy and the central bank's stance after demonetisation.

The Reserve Bank of India (RBI) unexpectedly kept its key policy rate unchanged on Dec. 7, despite calls for action in the face of an intense cash shortage that threatens to slam the brakes on the world's fastest-growing large economy.

"The feel-good factor has been missing from the market post-demonetisation," said Neeraj Dewan, director at Quantum Securities.

"We will have to wait and watch if the government announces anything substantial early next year to lift investor sentiment. We can then expect a pre-budget rally."

The broader NSE Nifty was up 0.14 percent at 8,094.10 in thin trade as of 0655 GMT, while the benchmark BSE Sensex rose 0.20 percent to 26,359.52.

Analysts are of the view that markets will trade in a narrow range until the effects of demonetisation pan out with better clarity.

Financial stocks bounced back from the previous session's losses and were the major contributors to the gains. ICICI Bank and State Bank of India rose up to 1.4 percent each.

However, consumer stocks were among the biggest losers with ITC Ltd, the country's largest cigarette maker, declining as much as 1 percent.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp