INSUBCONTINENT EXCLUSIVE:
NEW DELHI: It was the third straight day of gains for the domestic equity market, thanks to a bounce in Wall Street in overnight trade and a
rise in bank and financial stocks
A strong rupee further strengthened investor sentiment on Dalal Street
The domestic currency gained 46 paise in intraday trade to hit a high of 69.90 against the US dollar.
The BSE benchmark Sensex hit an
intraday high of 36,195, up 388 points only to settle at 36,077, 269 points or 0.75 per cent higher
Only six stocks ended with losses on the BSE, while the remaining edged higher with Sun Pharma leading the pack
The pharma major edged 2.97 per cent higher and was trailed by Bajaj Finance, Vedanta, YES Bank, ICICI Bank and HDFC.
The 50-share pack,
Nifty ended the day 80 points or 0.74 per cent higher at 10,860 on first day on January FO series
As many as 38 constituents in the index settled higher while 12 shut shop lower.
India VIX eased 6 per cent to 15.03 level.
On the sectoral
front, all BSE indices barring telecom closed higher
The BSE Consumer Durable registered a gain of 2.15 per cent and topped the chart
Other sectors that gained were Basic Materials, Healthcare, Finance, Bankex and Capital Goods
Each of these indices edged higher by over a per cent, each.
BSE midcap and smallcap indices climbed in line with Sensex and settled the day
0.93 per cent and 0.86 higher, respectively.
Globally, stocks in Europe and Asia rose cautiously on Friday after Wall Street ended a
volatile session with big gains, but fears of further price swings and worries about US politics kept safe-haven currencies such as the yen
and Swiss franc in demand, as per a Reuters report.
Expert SpeakIndian indices continue to hold positive momentum tracking firm global cues
Nifty ended this week above 10,800 mark led by banking and FMCG stocks
The domestic sentiment remained optimistic with reports that the government is contemplating several incentives for farmers ahead of the
Investors will closely track global economic outlook, movement in crude oil and currency along with Q3FY19 earning season due in January
We believe long-term investors can use volatility in the market to their advantage and maintain a stock-specific approach-Hemang Jani, Head
- Advisory, Sharekhan by BNP ParibasMarket extended the rally by taking positive cues from global market
Investors remain focused on global growth momentum while easing tension between US govt and Fed provided an opportunity to accumulate stocks
after recent consolidation
Going forward, the market will closely watch the Q3 earnings expectation, while global cues will dictate the direction-Vinod Nair, Head of
Research, Geojit Financial Services
