Nifty ends higher for the fifth straight session, Sensex up over 100 pts


Indian stocks markets on Wednesday closed higher amid global cues and investors eyeing industrial and consumer price data and other macro datas.

Sensex gained over 100 points while the 50-share index settled over 11,000-level.

Sensex closed at 37,270.82 rising 125.37 points, or 0.34%, while the broader Nifty gained 32.65 points, or 0.30%, at 11,035.70.

Yes Bank, Tata Motors, Maruti Suzuki, Tata Steel and Vedanta were the most contributing stocks on Sensex pack, surging as much as 13.47%.

The broader market also remained optimistic with BSE Midcap and Smallcap gauges rising 1.04% and 1.43% respectively.

“Index opened a day at 11029 and after showing choppy session index closed day at 11036 with gains of 33 points and formed small doji candle pattern on daily chart. Immediate hurdle is coming near 11060-11130 and support for index is coming near 10970-10920 zone, index will show strength only if managed to sustain above 11060 zone otherwise we may see some profit booking from current levels. Nifty bank closed a day at 27776 with gains of 272 points and formed bullish candle on daily chart, now support for index is coming near 27550-27350 zone and resistance is coming near 27930-28200 zone,” said Rohit Singre, Senior Technical Analyst, LKP Securities.

Among sectors, Nifty IT (-1.03%) was the worst performer as rupee gained little against the US dollar. Nifty FMCG and Media were the other two losing sectors. However, eight out 11 sectors ended with gains. Nifty Realty (4.14%), Auto (3.60%), PSU Bank (3.11%), Metal (2.31%) and Private Bank (1.01%) were the top gainers.

Globally, in the early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.10% while Japan’s Nikkei rose 0.32%. On Wall Street, the S&P 500 ended little changed as a rally in energy and industrial shares countered a drop in the technology and real-estate sectors with investors favouring value over growth. Asian stock markets held firm and bond yields rose on Wednesday as hopes of diminishing US-China tensions and reduced risk of no-deal Brexit prompted investors to take profit in risk-off trade ahead of key central bank policy meetings.

2019-09-11 03:33:00

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