Live
- Revolutionizing Customer Service: Enhancing Customer Experience through OneConnect Project and SAP Service Cloud
- Delhi govt to implement work from home for 50 pc govt staff amid severe air pollution
- Annual addition to green energy capacity likely to surpass 35 GW: Report
- Seeking to complete 1st nuclear power plant as scheduled: Egyptian PM Madbouly
- Priyanka Chopra shares heartwarming moment of Malti enjoying Autumn
- "We play with passion and pride', says captain Durga Rao after India pulls out of Blind T20 World Cup
- Rural India’s women entrepreneurs: Stories of grit and success
- On World Fisheries Day, new schemes to be launched to push growth
- Serena Williams pays touching tribute to Rafa, says 'choked up with Nadal's retiement'
- Realme GT 7 Pro Launch: Snapdragon 8 Elite Chip, Smaller Battery, and Premium Features
Positive economic data lifts markets
The Indian stock markets staged a recovery on Wednesday on the emergence of buying in telecom, fast-moving consumer goods (FMCG), information technology (IT) and reality sectors, driven by macro-economic data. This is despite a resistance from global headwinds.
Sensex closes 46 points higher; Nifty above 8,150
Mumbai: The Indian stock markets staged a recovery on Wednesday on the emergence of buying in telecom, fast-moving consumer goods (FMCG), information technology (IT) and reality sectors, driven by macro-economic data. This is despite a resistance from global headwinds.
The markets initially swayed by the optimistic Gross Domestic Product (GDP) numbers and surge in production of eight-core industries, resulting in the buying spree in select counters.
The 30-share BSE barometer opened higher at 26,684.46 and hovered between a high of 26,857.25 and a low of 26,671.86, before ending at 26,713.93, showing a modest gain of 45.97 points, or 0.17 per cent. The NSE Nifty closed at 19.85 points or 0.24 per cent, higher at 8,179.95, after earlier climbing as much as 0.68 per cent to its strongest level since 27 October 2015.
While, slower-but-positive purchasing managers’ index (PMI) manufacturing sector of 50.7 put the momentum in range, later weighed down by profit-booking in banks, public sector undertakings (PSUs), metals, consumer durable and financials and the Asian markets ending red after mixed signals from China’s PMI surveys also affected the trading pattern.
While, wobbling European stocks after euro zone PMI dipped to a three-month low and slip in crude oil amid focus on China’s PMI, US Fed and key policy events later this week somewhat pressured the sentiment. Meanwhile, second-line shares of midcap and smallcap companies traded lacklustre.
Also, foreign portfolio investors (FPIs) sold shares worth a net Rs 114.52 crore on Tuesday, as per provisional data released by the stock exchanges. In the domestic market, 14 scrips out of 30-share Sensex pack ended higher while 16 scrips closed lower.
Major gainers were Adani Ports (4.98 per cent), followed by Asian Paints (3.54 per cent), Bharti Airtel (3.17 per cent), ITC (2.60 per cent), TCS (2.20 per cent), Coal India (1.80 per cent), Wipro (1.29 per cent), NTPC (1.22 per cent), Lupin (0.98 per cent), M&M (0.77 per cent) and HUL (0.58 per cent).
Among the S&P BSE sectoral indices, telecom rose by 2.83 per cent, followed by FMCG 1.60 per cent, tech 1.13 per cent, IT 0.83 per cent and realty 0.37 per cent, while banks fell by 1.19 per cent, finance 0.70 per cent, industrials 0.67 per cent, capital goods 0.61 per cent and auto 0.60 per cent.
