Sensex, Nifty Snap Six-Day Losing Streak Led By Auto, Banking Shares

0
99

The S&P BSE Sensex and NSE Nifty 50 Indexes snapped their six-day losing streak, the longest stretch of losses for benchmarks in over two months, led by gains in auto and banking heavyweights like ICICI Bank, Kotak Mahindra Bank, Mahindra & Mahindra, Yes Bank, Hero MotoCorp, Tata Motors and Bajaj Auto. In the last six trading sessions, Sensex fell as much as 1,385 points or 3.53 per cent and the Nifty 50 Index dropped as much as 435 points or 3.72 per cent.
The Sensex ended 52 points or 0.14 per cent higher at 37,883 and the NSE Nifty 50 Index advanced 0.29 per cent or 32 points to 11,284.

Twelve of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Auto Index’s nearly 2 per cent gain. Banking, capital goods, consumer durables, industrials, healthcare, finance and consumer discretionary goods and services sector gauges also advanced between 0.5 and 1 per cent each.

On the other hand, S&P BSE Energy Index was top loser, down 1 per cent. Information technology and utilities shares also witnessed some selling pressure in today’s session.

Mid- and small-cap shares also witnessed some buying interest in today’s session as the S&P BSE MidCap Index rose 0.53 per cent and the S&P BSE SmallCap Index advanced 0.22 per cent.

Yes Bank was top gainer in the Nifty 50 basket of shares, the stock ended 9 per cent higher at Rs. 95.60 on reports that TPG Capital and Advent International are in talks to infuse $350 million each in Yes Bank.

Bajaj Finance, Bajaj Finserv, Eicher Motors, Bharti Infratel, Hero MotoCorp, Mahindra & Mahindra and Bajaj Auto were also among the gainers, up between 3 and 7.4 per cent each.

On the flipside, Vedanta, Indian Oil, Bharti Airtel, HDFC, Tech Mahindra, Reliance Industries and GAIL India were among the losers.

The overall market breadth was positive as 1,322 shares were advancing while 1,186 were declining on the BSE.

LEAVE A REPLY

Please enter your comment!
Please enter your name here