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HomeBusinessSensex Ends 160 pts Lower, Nifty Settles Above18,600; PSU Banks Outperform

Sensex Ends 160 pts Lower, Nifty Settles Above18,600; PSU Banks Outperform

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party’s decisive win in Gujarat kept political fervor upbeat in the market.

The S&P BSE Sensex oscillated in a range of 313 points as it hit a high of 62,633 and a low of 62,320 during the day. It, eventually, closed at 62,571, up 160 points or 0.26 per cent, led by Axis Bank (up 3 per cent), IndusInd Bank, L&T, SBI, ICICI Bank, M&M, HDFC Bnak, and Infosys.

Sun Pharma, Power Grid, TCS, Nestle India, Bajaj Finance, Dr Reddy’s Labs, Asian Paints, Wipro, and NTPC, on the flipside, put pressure on the index.

On the National Stock Exchange (NSE), the NSE Nifty topped the 18,600-mark intra-day. It shut shop 149 points, or 0.26 per cent, higher at 18,609. In the broader market, the Nifty MidCap 100 and SmallCap 100 outran the benchmarks as they gained 0.6 per cent and 0.3 per cent, respectively.

On the sectoral front, PSU bank index rose nearly 4 per cent, and the bank and Capital goods indices up 1 percent each. However, pharma index down 1 per cent, power and realty indices down 0.5 per cent each.

The Nifty Bank index, which settled 1.2 per cent higher, hit a record high of 43,634 in the intra-day trade today. On the downside, the Nifty Pharma index slipped over 1 per cent, while the Nifty Realty dipped 0.7 per cent.

Dharmaj Crop Guard shares made a healthy debut on the bourses today as they delivered a 12 per cent listing gain on the NSE and BSE. The shares got loisted at Rs 266 apiece as against their issue price of Rs 237. During the day, they rallied up to Rs 279, but closed at Rs 267, up 12.6 per cent against issue price.

Earlier this morning, the Indian benchmark indices opened flat amid on weekly F&O expiry amid weak global cues. BSE Sensex was down 0.04 per cent at 62,378, while NSE Nifty 50 was down 0.06 per cent at 18,547 level. Larsen and Toubro, Eicher Motors, Bajaj Finserv, M&M and Apollo Hospitals were among major gainers on the Nifty, while Kotak Mahindra Bank, SBI Life Insurance, Tata Motors, HDFC Life and TCS were the laggards.

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