Domestic stock markets continues to rise on Wednesday following a day’s pause, as gains in pharma, consumer goods and select financial stocks. The S&P BSE Sensex index rose 263.12 points – or 0.69 per cent – to 38,236.34 at the strongest level recorded during the session. The broader NSE Nifty 50 benchmark climbed to as high as 11,295.40, up 73 points – or 0.65 per cent – from its previous close. However, selling pressure in metal and energy shares limited the upside. (Track Sensex, Nifty Here)
The Sensex ended 94.71 points – or 0.25 per cent – higher at 38,067.93, and the Nifty settled at 11,247.55, up 25.15 points – or 0.22 per cent – from its previous close. HDFC Bank, HDFC and Hindustan Unilever were the biggest boosts to Sensex.
Grasim (closing up 2.99 per cent), Tech Mahindra (2.79 per cent), Titan (2.55 per cent), Nestle (1.93 per cent) and Dr Reddy’s Laboratories (1.92 per cent) were the top gainers in the Nifty basket of 50 shares.
On the other hand, Bharat Petroleum (down 9 per cent), Bharti Airtel (3.66 per cent), Tata Steel (3.07 per cent), JSW Steel (3.06 per cent) and IndusInd Bank (2.14 per cent) were the worst hit among 29 laggards in the benchmark index.
Reliance Industries shares ended 0.49 per cent lower, having risen 1 per cent during the session following the conglomerate’s announcement that US-based private equity firm General Atlantic will invest Rs 3,675 crore in its retail arm, Reliance Retail Ventures.
Bharat Petroleum shares tumbled after the government extended the deadline for submitting initial bids a stake in the state-run company, to November 16.
The government’s efforts to privatise the refiner could spill over into the next fiscal year and global players such as Saudi Aramco and Russia’s Rosneft may not participate in the bid, according to a report by news agency Reuters citing sources.
Global share markets fell on Wednesday after a chaotic first US presidential debate turned investors cautious, though strong factory surveys gave a boost to Chinese shares.
European equities started the day on a lacklustre note, with the United Kingdom’s FTSE 100 benchmark index last seen trading 0.04 per cent higher in early trade. While France’s CAC 40 index was down 0.28 per cent at the time, Germany’s DAX 30 was down 0.46 per cent.