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Markets extend gains on global cues
Indian stock markets ended gains for the second consecutive day on Wednesday thanks to buoyant global cues. Short-covering in realty, metal and healthcare stocks ahead of November series expiry on Thursday, also improved the market sentiment.
Mumbai: Indian stock markets ended gains for the second consecutive day on Wednesday thanks to buoyant global cues. Short-covering in realty, metal and healthcare stocks ahead of November series expiry on Thursday, also improved the market sentiment.
The benchmark BSE Sensex resumed higher at 26,101.33 and hovered in a range of 26,130.49 and 25,877.16 before ending at 26,051.81, showing a gain of 91.03 points or 0.35 per cent. The index has gained 286.67 points or 1.11 per cent in two days. The NSE 50-share Nifty also firmed up further by 31 points or 0.39 per cent to end at 8,033.30.
Though record highs achieved by the US stocks have buoyed the Indian bourses, a tepid growth outlook for the second half of this fiscal as well as lingering concerns over the impact of demonetisation continue to be a drag on market momentum.
Among the top performers, shares of engineering major Larsen and Toubro ended 2.16 per cent higher at Rs 1,357.85 after the company on Tuesday reported an 84 per cent jump in net profit for the September quarter. As many as 20 stocks in the 30-share Sensex pack ended higher, while the remaining 10 closed lower The BSE mid-cap and small-cap indices rose by 1.22 per cent and 1.54 per cent, respectively.
Among the S&P BSE sectoral indices, realty rose 3.41 per cent, followed by metal (2.32 per cent), healthcare (2.19 per cent), capital goods (1.30 per cent), consumer durables (1.26 per cent), utilities (1.19 per cent) and industrials (1.17 per cent). Market breadth remained positive as 1,922 stocks ended higher, 665 finished in red while 165 ruled steady.
Overseas, Asian stocks ended mixed. Japanese stock markets were closed for a holiday. Key indices in Singapore, South Korea and Taiwan firmed up by 0.23 per cent to 0.62 per cent, while China and Hong Kong fell by 0.01 per cent to 0.22 per cent. European markets were trading narrowly mixed as key indices in France and Germany moved down by 0.25 per cent to 0.37 per cent while UK's FTSE rose 0.58 per cent.
