Sensex, Nifty Hold Gains In Lacklustre Trading Session
Markets At Close
- Benchmark indices snap two-day losing streak
- Nifty ends 0.76 percent higher at 8,992
- Nifty futures end at a premium of 67 points
- Sensex ends 0.73 percent higher at 30,602
- Nifty Bank ends 1.8 percent higher at 19,400
- Nifty Midcap Index ends 1.8 percent higher
- Nifty Smallcap Index ends 2.8 percent higher
- India Volatility Index ends 7.6 percent lower at 45.92
- Nifty I.T. (Down 1.88 percent) and Nifty FMCG (Down 0.6 percent) were the only sectoral laggards
- Nifty Media Index ends as top sectoral gainer; up 2.6 percent
- Nifty Metal (Up 1.5 percent), Nifty Pharma (Up 1.8 percent) and Nifty PSU Bank (Up 1.5 percent) end with gains
- NTPC ends as the top Nifty gainer; up 6.9 percent
- HCL Tech ends as the top Nifty laggard; down 4 percent
- 1,331 stocks end the day with gains while 462 report losses
Contributors To Nifty's Gains
Closing Bell: End Of A Lacklustre Session
Indian markets snapped a two-day losing streak, ending with modest gains in what turned out to be a lacklustre trading session. Benchmark indices managed to eke out gains after trading in a narrow band through the day.
The S&P BSE Sensex ended 0.7 percent higher at 30,602 while the Nifty failed to hold the 9,000 mark to end at 8,992, up by 0.76 percent.
Private Banks like ICICI Bank and HDFC Bank which led the sell-off during the last hour of Wednesday's trading session were the primary contributors to the gains.
The India Volatility Index is now well below the mark of 50, ending 8 percent lower at 45.8.
Among sectoral indices, the Media index was the top performer, ending with gains of 3 percent while the Nifty Bank, Nifty Pharma and Nifty PSU Bank gained close to 2 percent. Nifty FMCG and Nifty I.T. were the only sectoral laggards.
1,331 stocks ended the session with gains while 462 reported losses at close.
Infosys To Declare Fourth Quarter Results On April 20
I.T. bellweather Infosys as informed the exchanges that it will be declaring its January-March quarter result on Monday, April 20, 2020.
The company's top leadership will preside over a common press conference at 4:45 p.m. after the results are announced at around 3:45 p.m., according to the company's statement.
Stock Update: NTPC
- Top gainer on the Nifty 50 index
- Gains as much as 7.1 percent to Rs 96.3
- Biggest single-day gain since May 19, 2014
- Up for the sixth straight day
- Longest gaining streak since July 2019
- Up 20 percent in the last six trading sessions
- Best six-day rally since May 2014
- Volumes are 0.7 times higher than its 30-day average
- 26 out of the 27 analysts tracking the stock have a buy recommendation; no sell calls
- Return potential for the stock as per Bloomberg data is 50.2 percent