Sensex, Nifty Resume Record Closing Spree On F&O Expiry Day After One-Day Blip
Closing Bell: Sensex, Nifty Resume Gains After One-Day Blip
Indian equity benchmarks resumed their record closing spree on derivatives expiry day after a one-day blip.
The S&P BSE Sensex closed 0.84 percent or 330 points higher at 39,831.97 and the NSE Nifty 50 ended at 11,945.90, up 0.71 percent. The broader market index represented by the NSE Nifty 500 Index ended 0.6 percent higher. In the May series, the 50-share gauge ended 2.6 percent higher.
The market breadth was slightly tilted in favour of buyers. About 877 stocks advanced and 872 shares declined on National Stock Exchange.
Six out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Financial Services Index’s 1.2 percent gain. On the flipside, the NSE Nifty Auto Index was the top sectoral loser, down 0.56 percent.
Stocks Moving On Heavy Volumes
- Stock rose as much as 7.9 percent to Rs 7.9 percent to Rs 119.70.
- Trading volume was 50 times its 20-day average.
- Stock rose as much as 4 percent to Rs 1,799.
- Trading volume was more than nine times its 20-day average.
- Stock fell as much as 5.7 percent to Rs 756.
- Trading volume was more than six times its 20-day average.
Ericsson Considering New Clauses To Avoid RCom-Like Situations
Swedish telecom gear maker Ericsson is considering tweaking provisions in business deals to avoid situations like those it is facing with Reliance Communications Ltd.
The company sued RCom and its promoter Anil Ambani to recover dues of about Rs 1,500 crore, of which it managed to receive only Rs 550 crore.
"We think fairness sort of came true in the end. But of course, as we sell new deals...we try to avoid those things. But it is hard to tell because who could have seen that coming. That was a tough period," Peter Laurin, senior vice president and head of business area managed services at Ericsson said.
Europe Market Check: Equities Gain
European equities opened in the green on Thursday as oil’s gains boosted crude producers, outweighing pessimistic headlines about the lack of progress in the U.S.-European Union trade talks.
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