STOCK MARKET BSE NSE

Sensex gains for fifth straight session; PSU banks rise

The benchmark BSE Sensex closed up 0.25 percent at 33,561.55 while the broader NSE Nifty ended 0.15 percent higher at 10,342.30.

Published: 22nd November 2017 05:31 PM  |   Last Updated: 22nd November 2017 05:31 PM   |  A+A-

Sensex | Reuters File Photo

For representational purposes (File | Reuters)

By PTI

MUMBAI: The stock market closed on the upside today -- marking it Day 5 -- when upbeat Asian shares and a record close in the US created room for buoyancy.

For the Sensex, it was an over two-week high of 33,562, fuelled by infrastructure, PSU and auto stocks. Telecom, metal and healthcare came as dampeners.

Domestic investors remained at the forefront of buying, but watched their steps after US Fed chief Janet Yellen's comments that the central bank is still inclined to raise interest rates gradually as it seeks to balance the risks of moving too fast and moving too slow.

Asian markets extended a global rally following another record close on Wall Street on strong world growth and rising corporate earnings. Hong Kong stocks breached the 30,000 mark for the first time in 10 years.

The BSE Sensex started off on a high, moving higher to 33,654.53, but then closed the session up 83.20 points, or 0.25 per cent at 33,561.55 -- the highest closing since November 6. During the day, however, it moved into the loss zone for a while.

The gauge had gained 717.91 points in the previous four sessions as risk appetite returned after the Moody's last week India sovereign credit rating upgrade by a notch to 'Baa2'.

The broader Nifty scaled a high of 10,368.70, but profittaking pulled it down as the index closed at 10,342.30, still up 15.40 points, or 0.15 per cent. Intra-day, it briefly slipped into the red to touch a low of 10,309.55.

Adani Ports was the star stock, jumping 3.27 per cent.

Gains were also reported in HDFC Ltd, SBI, Asian Paints and Maruti Suzuki.

Shares of Future Retail rallied 11.68 per cent after the holding company Future Group said yesterday it planned to open 10,000 member-only stores by 2022.

Domestic institutional investors (DIIs) maintained their buy status as they purchased shares worth a net Rs 825.50 crore. Foreign portfolio investors (FPIs) sold equities worth a net Rs 727.01 crore yesterday, showed provisional data.

BSE infrastructure index jumped and so did auto, PSU and capital goods indices.

Broader markets were mixed, with BSE small-cap index rising 0.23 per cent and mid-cap down 0.05 per cent.

European markets were flat to higher in their early session as traders awaited the British government's annual budget.
 

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