STOCK MARKET BSE NSE

Sensex, Nifty inch up to record highs; Tata Steel spurts 3 per cent

Gains were muted as investors turned jittery at the fag end of the session on macroeconomic concerns after Fitch Ratings cut India's GDP growth forecast for 2019-20, traders said.

Published: 20th December 2019 04:20 PM  |   Last Updated: 20th December 2019 04:20 PM   |  A+A-

sensex, nifty, stock exchange, shares

For representational purposes (File Photo | Reuters)

By PTI

MUMBAI: Market benchmarks Sensex and Nifty rose marginally to close at fresh lifetime highs on Friday, tracking gains in index heavyweights ICICI Bank, SBI and HDFC Bank.

Gains were muted as investors turned jittery at the fag end of the session on macroeconomic concerns after Fitch Ratings cut India's GDP growth forecast for 2019-20, traders said.

Settling at a record high for the fourth consecutive session, the 30-share BSE Sensex closed 7.62 points, or 0.02 per cent, higher at 41,681.54.

It hit a lifetime intra-day high of 41,809.96 during the session.

Similarly, the broader NSE Nifty rose 12.10 points, or 0.09 per cent, to its new record of 12,271.80.

It hit an intra-day high of 12,293.90.

Tata Steel was the top gainer in the Sensex pack, rallying 3.23 per cent, followed by SBI, Yes Bank, Hero MotoCorp, ICICI Bank and Bharti Airtel.

On the other hand, Vedanta was the biggest loser, shedding 3.45 per cent.

Kotak Bank, Tata Motors, ITC, M&M and Sun Pharma too ended in the red.

According to traders, participants offloaded equities at the fag end of the session on concerns over economic growth after Fitch Ratings cut India's GDP growth forecast for 2019-20 fiscal year to 4.6 per cent on deterioration in business and consumer confidence.

Stocks traded with a positive bias during the day on hopes of Budget stimulus to spur economic growth, analysts said.

Further, persistent foreign fund inflows helped market scale fresh highs, they added.

On a net basis, foreign institutional investors bought equities worth Rs 739.43 crore, while domestic institutional investors sold shares worth Rs 493.95 crore on Thursday, data available with stock exchange showed.

Bourses in Shanghai and Tokyo ended in the red, while those Hong Kong and Seoul settled on a positive note.

Benchmark indices in Europe were trading higher in their respective early sessions.

On the currency front, the rupee depreciated 13 paise against the US dollar to 71.16 (intra-day).

Brent futures, the global oil benchmark, fell 0.14 per cent to USD 66.45 per barrel.



Comments

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 newindianexpress.com 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 newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com 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. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp