Sensex, Nifty Close Higher In A Volatile Week
Closing Bell: Sensex, Nifty Edge Higher; Bharti Airtel Surges 5%
Indian equity benchmarks rose for a fourth straight day led by Infosys, Bharti Airtel, ICICI Bank and Yes Bank. However, the gains were capped as HDFC twins, Larsen &Toubro and ITC came under selling pressure.
The S&P BSE Sensex rose 0.09 percent or 33 points to 35,963 and the NSE Nifty 50 Index advanced 0.13 percent or 14 points to 10,805.
Thirteen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Telecom Index's 3 percent gain. On the flipside, the S&P BSE Healthcare Index was the top loser, down 0.8 percent.
Mid- and small-cap stocks were in line with their larger peers as the S&P BSE MidCap Index rose 0.2 percent while the S&P BSE SmallCap Index ended little changed.
ONGC Jumps Most In Over Two Months On Share Buyback Plan
Shares of the state-run oil exploration company rose as much as 4.95 percent, the most since Oct. 11, to Rs 150.40.
ONGC informed stock exchanges that its board will meet on Dec. 20 to consider share buyback plan.
European Stocks Fall On Weak Asian Markets
European stocks and U.S. equity futures followed Asian stocks lower after data showed continued weakness in China’s economy. Treasuries and the dollar climbed. The Stoxx Europe 600 Index fell, with all sectors in the red, signaling a downbeat end to a week marked by large swings.
Reliance Group Shares Gain After Top Court Rejects Pleas To Probe Rafale Deal
Shares of Anil Dhirubhai Ambani Group companies were trading higher after the Supreme Court rejected pleas to to probe India’s Rafale fighter jet deal with France, blunting the opposition’s attack on Prime Minister Narendra Modi and Anil Ambani in the multi-billion-dollar purchase.
This comes as a relief for Anil Ambani whose Reliance Naval and Engineering Ltd. was picked as an offset partner by Dassault Aviation in the Rs 58,000-crore purchase of 36 fighter jets in a fly-away condition.
- Reliance Communications rose as much as 7.14 percent
- Reliance Capital advanced 4.14 percent
- Reliance Infrastructure climbed 8.73 percent
- Reliance Naval Engineering jumped 18.18 percent
- Reliance Power rose 3.6 percent
Market Update: Sensex, Nifty Fluctuate; Bharti Airtel, Indian Oil Top Gainers
Indian equity benchmarks fluctuated between gains and losses as gains in Bharti Airtel, Indian Oil and Infosys were offset by losses in HCL Tech, HDFC and Maruti Suzuki.
The S&P BSE Sensex was little changed at 35,958 and the NSE Nifty 50 Index was also little changed at 10,798.
Thirteen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Telecom Index's 3 percent gain. On the flipside, S&P BSE Healthcare Index was top loser, down 0.6 percent.
Overall market breadth was neutral as 1,128 shares were advancing while 1,201 were declining on the BSE.