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Closing Bells: Market ends green for the nifty and the sensex after six days of downfall

Closing Bells: Market ends green for the nifty and the sensex after six days of downfall

The market ends green after six days of downfall as the S&P BSE Sensex closed at 35,178, gaining 275.67 points while the Nifty closed at 10,684, up 91.50 points, respectively.

According to the benchmark indices, Bharti Airtel, Tata Motors, Sun Pharma, SBI and Coal India were the top gainers while ONGC, HDFC Bank, Asian paints and ICICI Bank were the major losers.

"Stock markets in India traded on a firm note today in the midst of abating global trade war tensions and policy decision at home. The Reserve Bank of India (RBI) in its monetary policy meet today hiked the key lending repo rate by 25bps to 6.25%, The central bank has projected retail inflation at 4.8% - 4.9% for April – September and has cited crude prices as a major upside risk to inflation print", said Mr. Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.

Abhijeet added, "Post the Monetary Policy Committee’s (MPC) decision to hike repo rate, equity benchmarks continued their strong momentum, to finally close the day with gains of over 0.50%. All the sectoral indices on the National Stock Exchange (NSE) closed in the positive zone with the PSU banking, metals, healthcare and media indices closing with gains of over 1%."

Asian and global markets ended higher today as Nikkei and Shanghai Composite gained 0.38 per cent and 0.03 per cent respectively whereas FTSE 100, CAC 40, DAX and Hang Seng secured 0.35 per cent, 0.04 per cent, 0.37 per cent and 0.53 per cent respectively, at the time of going to the press.

Meanwhile in the banking sector, HDFC Bank and ICICI Bank went down by 0.30 per cent and 0.07 per cent respectively while Axis bank and Yes bank performed well by gaining 0.09 per cent and 0.71 per cent respectively as per today’s market closing.

At the end of today’s trading session, S&P BSE Midcap increased by 199.52 points or 1.28 per cent and closed at 15,734.19 and Small Cap Index gained 247.72 points or 1.53 per cent and closed at 16,467.30.

In the commodities sector, gold went down by Rs.141 or 0.45 per cent and stood at Rs. 30,900 per 10 grams and Brent Crude lost 21 points or 0.48 per cent and stood at Rs. 4371 per bbl as per the benchmark indices.

At the end of the day, the yield on 10-year benchmark Government securities softened and concluded at 7.8963.

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