Mkts close in green on rate cut hopes

Mumbai: Market barometers Sensex and Nifty on Thursday ended higher after swinging between gains and losses during the day as participants hoped for further easing of repo rate to boost consumer sentiment amid macro-economic challenges.

At the closing bell, the 30-share BSE Sensex settled 170.42 points, or 0.42 per cent, higher at 40,286.48. The index swung between a high of 40,348.61 and low of 40,026.99 during the session.

While, the NSE gauge Nifty ended with a gain of 31.65 points, or 0.27 per cent, at 11,872.10.

The market underwent bouts of volatility during the day as investors fretted over a host of negative factors like higher retail inflation print, weak IIP data and worries over US-China trade deal.

Sectorally, BSE IT, consumer durables, finance, bankex, teck and auto indices rose up to 1.07 per cent.

While BSE telecom, metal, capital goods, power, FMCG and energy indices fell up to 2.76 per cent. Broader BSE midcap and smallcap indices ended on a flat note.

After weak set of government data indicated deepening of economic slowdown, Moody's Investors Service lowering India's GDP growth forecast further hit investor sentiment.

A broad-based weakness prevailed in the market as weak macro numbers and negative global cues kept investors on edge.

Meanwhile, the Indian rupee recovered 12 paise to 71.96 against the US dollar. Brent crude futures, the global oil benchmark, rose 0.64 per cent to $62.77 per barrel.