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Post Session: Sensex, Nifty ends green led by IT, realty stocks

Share Source By

Dion Global

07 Jan 2019

The benchmark indices ended nearly 0.5 per cent higher on Monday led by a rise in information technology (IT) and realty stocks. It ended the day on a positive note, though off their high points. Among sectors, all but three sectors ended the session in the green. Asian shares sped ahead on Monday as a dovish turn by the Federal Reserve and startlingly strong U.S. jobs data soothed some of the market’s worst fears about the global outlook. Oil prices rose by more than 1.5 per cent on Monday on hopes that talks in Beijing can resolve a trade war between the United States and China, while supply cuts by major producers also supported crude. Among individual stocks, Bandhan Bank and Gruh Finance fell around 5 per cent on the BSE amid reports of a merger between the two. India's central bank is open to infusing "need-based" liquidity into the financial system, Governor Shaktikanta Das said on Monday ahead of a meeting with the shadow banking sector, which has been hit hard by a funding crunch. Government officials have pressed the Reserve Bank of India (RBI) over the past few months to ease lending and capital rules for banks and provide more liquidity to shadow banks. Eicher Motors shares fell 1.44 percent to close at Rs 19,840 on Monday after global brokerage house CLSA downgraded its rating for the stock to outperform from buy, citing volume growth concerns. Shares of AGC Networks surged 20 per cent to Rs 118.40 apiece on Monday, zooming nearly 100 per cent in past four-weeks, on back of heavy volumes. The stock of IT consulting and software firm rallied 97 per cent from Rs 60.20 since December 10, 2018.

The 30-benchmark indices closed at 35850.16 up by 155.06 points or by 0.43 per cent and then NSE Nifty was at 10771.8 up by 44.45 points or by 0.41 per cent. The BSE Sensex touched intraday high of 36076.95 and intraday low of 35809.23 The NSE Nifty touched intraday high of 10835.95 and intraday low of 10750.15.

The top gainers of the BSE Sensex were Axis Bank Ltd. (Rs. 637.45,+2.84%), Tata Motors Ltd. (Rs. 175.25,+2.64%), Tata Motors Ltd. (Rs. 93.85,+2.57%), Infosys Ltd. (Rs. 671.15,+1.57%), Maruti Suzuki India Ltd. (Rs. 7349.00,+1.54%). The top losers of the BSE Sensex were Bajaj Auto Ltd. (Rs. 2657.40,-2.82%), YES Bank Ltd. (Rs. 186.95,-1.35%), Hero MotoCorp Ltd. (Rs. 2959.35,-1.11%), Bajaj Finance Ltd. (Rs. 2552.65,-1.03%), Sun Pharmaceutical Industries Ltd. (Rs. 430.05,-0.64%).

Sectorally, BSETECk index was at 7088.67 up by 81.24 points or by 1.16%. Dish TV India Ltd. (Rs. 41.45,+6.01%), Bharti Infratel Ltd. (Rs. 294.75,+3.79%), MindTree Ltd. (Rs. 836.90,+2.66%), TV Today Network Ltd. (Rs. 370.00,+1.94%), Infosys Ltd. (Rs. 671.15,+1.57%). On the flip side, BSE Metal index was at 11221.59 down by -18.59 points or by -0.17%. Hindalco Industries Ltd. (Rs. 208.40,-1.19%), Coal India Ltd. (Rs. 234.30,-0.59%), Tata Steel Ltd. (Rs. 485.95,-0.36%), National Aluminium Company Ltd. (Rs. 63.75,-0.23%), Jindal Steel & Power Ltd. (Rs. 152.05,-0.13%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2996 , shares advanced were 1418 while 1384 shares declined and 194 were unchanged.