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Market Closes Positive For Sensex and Nifty, SBI Loses

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Market Closes Positive For Sensex and Nifty, SBI Loses
Aditi Jain - 04 July 2018

Today’s stock market ended propitious for both the benchmark indices as the Sensex and the Nifty gained 266.80 points or 0.75 per cent and 70 points or 0.65 per cent, respectively. The Sensex closed at 35,645.40 and the Nifty stood at 10,769.90, at the time of the market closing.

“Throughout the day, markets remained volatile and the Nifty index swung both ways touching the intra-day low of 10,678 in the first half. However it bounced back smartly to touch the intra-day high of 10,777 before closing the session 0.7 per cent higher at 10,770,” said Jayant Manglik, President of Religare Broking Ltd.

However, he said that the broader market indices, BSE Midcap & Smallcap, underperformed the benchmark. The sectoral indices exhibited a mixed trend, wherein Auto, Banks and Healthcare were the top gainers up by 0.7 per cent - 1.3 per cent, while Power, IT and Consumer Durables were laggards.

Indo Count Industries Ltd, Religare Enterprises Ltd and Marksans Pharma Ltd were the top gainers while Shriram Transport Finance Ltd, NBCC India Ltd and Vakrangee Ltd were the major losers at the BSE.

At the NSE, Bajaj Auto Ltd, Lupin and Maruti Suzuki India Ltd were in the ruling zone of the market whereas Hindustan Petroleum Corporation Ltd, Grasim and Cipla were the top losers.

The Indian currency which was falling in the morning, rallied by Rs 0.1600 to the US Dollar and stood at Rs 68.7350, at the end of the trading session.

The S&P BSE Midcap index went down by 26.17 points or 0.17 per cent to close at 15,415.26 while the Smallcap Index inflated by 60.50 points or 0.38 per cent and stood at 16,050.59.

The global market finished lower today with the Hong Kong shares taking a lead in the Asian region. Nikkei, Shanghai Composite, Hang Seng, FTSE100 and DAX lost 0.31 per cent, one per cent, 1.06 per cent, 0.19 per cent and 0.09 per cent, respectively while CAC 40 was the only one gaining among all the indices by 0.24 per cent, at the time of filing the report.

With the positive milieu in the Indian stock market, gold prices rose by Rs 93 or 0.30 per cent to close at Rs 30,586 per 10 grams and Brent Crude gained Rs 1 or 0.02 per cent and closed at Rs 5081 per bbl.

In the banking sector, Axis Bank was rallied by three points or 0.59 per cent and HDFC gained 32.55 points or 1.57 per cent. State Bank of India was losing 0.25 points or 0.10 per cent, at the close of today’s trading session.

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