INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Extending their winning streak for the sixth-straight session, equity benchmarks Sensex and Nifty ended marginally higher on
Friday supported by metal, telecom and banking stocks.
The markets remained volatile throughout the day as speculators cheered positive
Chinese macro data and a strong set of key corporate earnings which raised expectations of a better third quarter
But the gains were capped by weak macroeconomic data released after market hours yesterday
According to official data, output of eight core infrastructure industries contracted by 5.2 per cent in September, the lowest in the
decade, indicating the severity of economic slowdown
The eight core sectors had expanded by 4.3 per cent in September 2018.
YES Bank was among the top losers in the Sensex pack, slipping nearly
8 per cent in trade ahead of its financial results for the quarter ended September 2019
There are expectations that the bank will continue to see challenges from consolidation in business, consequently affecting operating
performance leading to degrowth in net interest income (NII) and preprovisioning operating profit (PPOP).
Analysts said that in the near
term, markets may see some consolidation after the recent rally
They expect earnings season to dictate trend for the markets for the next few days as investors await fresh cues from the upcoming quarterly
Also, the market participants will eye the release of US jobs data later in the day and fresh information on US-China trade deal.
Market at
a glanceBSE Sensex closed 35.98 points, or 0.09 per cent, higher to 40,165.03, while NSE Nifty ended at 11,899.50, up 22.05 points or 0.19
per cent.
In the 30-pack Sensex, 16 stocks ended in the green and 14 in the red with IndusInd Bank finishing as the best performer and YES
and Tata Motors were among the Sensex stocks that declined.
The BSE Midcap index advanced 0.18 per cent and the BSE Smallcap index gained
0.32 per cent, outperforming benchmark Sensex.
BSE Metal index recorded 2.50 per cent gain to top the sectoral-return chart followed by
Telecom, Realty and Bankex index
While BSE Consumer Durables, IT and auto index were the worst performer.
In terms of index contribution, HDFC Bank, IndusInd Bank, Axis Bank
and ITC were chart toppers while TCS, RIL, L-T and Asian Paints were the top drags on Sensex.
Global marketsOn the global front, Asian
shares closed mixed while European stocks climbed in morning trade as a surprise bounce in China's manufacturing activity calmed investors
worried about the progress in US-China trade talks
