Eighth Weekly Gain For Sensex; Nifty Misses By 10 Points

Indian equity markets ended higher for the third straight day, ending the truncated week on a positive note.

The S&P BSE Sensex ended 1.1% higher at 46,973. The index recovered all of Monday's loss to end higher on a weekly basis by 13 points. This is the eighth straight weekly gain for the index. The last instance of the Sensex gaining for eight straight weeks was between December 2017-January 2018.

The NSE Nifty 50 index also ended 1.1% higher at 13,749. However, it fell short of a weekly gain by 11 points resulting in its first weekly loss since October.

Among the sectoral indices, the Nifty Bank was the top performer, ending 1.7% higher and above the mark of 30,000. The other index that did well in today's session was the Nifty Pharma, which ended with gains of 1.2%.

The PSU Bank index ended with gains of 0.6% while the Auto index saw gains of 0.5%.

Broader markets were mixed in today's session. The Midcap index ended with gains of 0.2% while the Smallcap index rose 0.9%.

1,090 stocks on the NSE ended with gains while 795 stocks declined.

• Benchmark indices further trim weekly losses; trade near day's high
• Nifty up 0.8% at 13,706
• Sensex up 0.7% at 46,788
• Nifty Bank up 1.4% at 30,306
• Nifty Midcap index up 0.9%
• Nifty Smallcap index up 1.3%
• India Volatility Index down 1.1% to 20.3
• Nifty Metal is the top sectoral gainer; up 2.5%
• Nifty PSU Bank index is the other major gainer; up 1.8%
• Nifty Media and Nifty Auto up 1.3% each while the realty index gains 1.1%
• Tata Motors is the top Nifty gainer; up 4.7%
• 41 out of the 50 Nifty constituents advance
• Infosys is the top Nifty laggard; down 1.1%
• 1,408 stocks on the NSE trade with gains while 342 decline

Indian equity markets have opened higher for the third straight day and have nearly recovered all of the losses on Monday, heading into the holiday weekend.

The S&P BSE Sensex opened 0.64% higher at 46,743 while the NSE Nifty 50 index opened with gains of 0.52% at 13,672.

As of closing on Wednesday, both Sensex and Nifty were down 1% for this truncated week.

Among the sectoral indices, the Nifty Media index is up 1.5% while the PSU Bank index has opened with gains of 1%.

Other indices like the Nifty Bank, Nifty FMCG are up 0.6% each, while the Metal index has opened with gains of 0.8%.

Broader markets too have opened higher, mostly in-line with the benchmark indices. The Nifty Midcap index is up 0.75% while the Smallcap index gained 0.6% in the early minutes of trade.

1,629 stocks on the NSE have opened with gains while 318 stocks are declining.

Good Morning!

Indian equity markets gained for the second straight session, recouping most of the losses from their biggest intra-day drop in seven months on Monday.

So far this week, curtailed by the Christmas holiday, the Sensex and Nifty 50 are down 1%. Losses in Thursday’s session would snap their seven straight weekly gaining streak. But in case of an advance, that would be the first time Nifty gains for eight weeks in a row since December 2017-January 2018. Futures are indicating a positive bias to today’s trade.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.26% to 13,663 as of 8:00 a.m.

SAIL and Sun TV are out of the F&O ban for today’s weekly options expiry session, while Canara Bank and Punjab National Bank remain.

Globally, most Asian markets are advancing this morning ahead of the Christmas holiday period.

Futures on the Dow Jones are up 60 points currently. The index ended 0.4% higher on Wednesday.

West Texas Intermediate crude rose 0.2% to $48.18 per barrel, while gold rose by a similar quantum to $1,877.2/Oz.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.