Stock Market Live: Nifty, Sensex Extend Gains To Third Day As BEL & Power Grid Rise
Reliance Industries Ltd. and Bharti Airtel Ltd. share prices contributed the most.
KEY HIGHLIGHTS
US Futures
As of 3:34 p.m., the Dow Jones Industrial Average and S&P 500 future were 0.37% and 0.40% higher, respectively. The Nasdaq Future is up 0.56%.
Stock Market Live: Nifty, Sensex Extend Gains To Third Day As BEL & Power Grid Rise
The Indian equity benchmark indices closed higher three days in a row, as BEL and Power Grid stocks led gains.
The NSE Nifty 50 ended 86.40 points, or 0.37% up at 23,249.50, and the 30-stock BSE Sensex ended 226.85 points, or 0.30% higher at 76,759.81.
The NSE Nifty Bank also closed higher at 49311.95. The index ended 0.30% up at 146.
"The word expiry is always accompanied by volatility; seen in the Index that showed a steady start before trending upwards and oscillating within a defined range for most of the session. However, a sharp decline in the afternoon erased all of its earlier gains. In the final hour of trade, a strong recovery helped the Index close higher at 23,249.50 marking a gain of 86.40 points," according to Aditya Gaggar Director of Progressive Shares.
Among the sectors, Realty and Energy were the top performers, while IT and Media lagged. The Index has broken out of its Falling Wedge formation, suggesting a shift in momentum towards the positive, but the candlestick pattern is not that encouraging. We will wait for further confirmation. For now, the zone of 23,350-23,400 will serve as resistance while support is at 23,065, he added.
Shares of RIL, Bharti, HDFC Bank, ICICI Bank and Bharat Electronics along with others. contributed positively to changes in the Nifty 50.
While those of Tata Motors, Infosys, L&T, Kotak Mahindra Bank and Bajaj Finserve along with others weighed the index.
Seven out of 12 sectors ended in green, with Nifty Realty, Oil & Gas, Energy and Pharma gaining the most.
Nifty Media, IT, Auto, PSU Bank and Metal declined the most.
Broader markets ended on a mixed note. The BSE Midcap ended 0.04% down, and Smallcap ended 0.02% higher.
On BSE, 14 advanced, and seven declined out of 21. The BSE Consumer Durable declined the most, and the BSE Oil & Gas rose the most.
Market breadth was skewed in favour of buyers. Around 2,149 stocks advanced, 1,800 stocks declined, and 125 stocks remained unchanged on BSE.
Rupee Closes Weaker Against US Dollar
Rupee weakened by 7 paise to open at 86.63 against the US Dollar.
It closed at 86.56 on Wednesday.
Source: Bloomberg
Economic Data Releases And Events For Jan 30
Europe: ECB Monetary Policy Outcome — 6:45 p.m.
US: Advance GDP Estimate — 7:00 p.m.
US: Unemployment Claims — 7:00 p.m.
US: Advance GDP Price Index — 7:00 p.m.
Europe: ECB Press Conference — 7:15 p.m.
US: Pending Home Sales — 8:30 p.m.
US: Energy Information Administration Weekly Natural Gas Storage Report — 9:00 p.m.
Market At Close
The NSE Nifty 50 and BSE Sensex rose for third day in a row.
The Nifty 50 and Sensex ended 0.37% and 0.30% higher, respectively.
The NSE Nifty Realty rose the most, while the NSE Nifty Media declined the most.
The NSE Nifty Midcap 150 ended 0.17% higher.
The NSE Nifty Smallcap 250 ended 0.18% down.
