Markets End With Modest Gains Led By Financial Stocks

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Markets End With Modest Gains Led By Financial Stocks
PTI - 25 August 2020

Mumbai, August 25: Equity benchmarks Sensex and Nifty Tuesday closed in the green for the third straight session, propelled by financial stocks amid firm global cues.

After a choppy session, the BSE index ended 44.80 points or 0.12 per cent higher at 38,843.88.

The NSE Nifty inched up 5.80 points or 0.05 per cent to close at 11,472.25 level.

Bajaj Finance was the top gainer in the Sensex pack, rallying over four per cent, followed by SBI, Tech Mahindra, Asian Paints, Bajaj Finserv, IndusInd Bank, ICICI Bank and M&M.

On the other hand, NTPC, Sun Pharma, Nestle India, Tata Steel and L&T were among the laggards.

Traders said despite a largely positive trend in global equities, domestic investors were cautious amid lack of directional cues.

Bourses in Tokyo and Seoul ended with gains, while Shanghai and Hong Kong finished in the red. Stock exchanges in Europe were also trading on a positive note in early deals.

Global oil benchmark Brent crude was trading 0.39 per cent higher at US dollar 45.82 per barrel.

In the forex market, the rupee ended on a flat note at 74.33 against the US dollar.

Earlier in the day, the Reserve Bank of India (RBI) said it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for an aggregate amount of Rs 20,000 crore in two tranches.

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