Stock markets close higher on firm global trends, foreign fund inflows
Mumbai, Jun 11 (PTI): Benchmark Sensex closed higher by 123 points while Nifty rose for a sixth consecutive day on Wednesday following a rally in global markets amid optimism over US-China trade talks and foreign fund inflows.
In a volatile session, the 30-share BSE Sensex rose by 123.42 points or 0.15 per cent to settle at 82,515.14. During the day, it climbed 391.79 points or 0.47 per cent to 82,783.50 , driven by gains in IT and energy shares.
In its sixth straight day of gains, the 50-share NSE Nifty ended 37.15 points or 0.15 per cent up at 25,141.40. The index moved between a low of 25,081.30 and a high of 25,222.40 during the day. In the six sessions to Wednesday, Nifty gained 598 points or 2.42 per cent.
After a flat start, the Nifty gradually moved higher in the first half and tested the resistance at 25,200, but failed to sustain the momentum at close, Ajit Mishra – SVP, Research, Religare Broking Ltd said.
From the Sensex pack, HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, Tata Motors and Eternal were the lead gainers.
Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank and Hindustan Unilever were among the laggards.
"Profit-booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favouring companies with stable earnings outlooks.
"Auto and IT sectors remain in focus - auto stocks are gaining on improved monthly sales, while IT shares are benefiting from optimism around a potential US-China trade resolution," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
The BSE smallcap gauge went up by 0.06 per cent while midcap index dipped 0.12 per cent.
"Benchmarks ended with marginal gains on Wednesday extending their consolidation phase. Positive developments in US-China trade talks and a steady global equity environment helped buoy sentiment, though gains were tempered by profit-booking in certain sectors," Satish Chandra Aluri, Analyst, Lemonn Markets Desk, said.
Among sectoral indices, oil & gas surged the most by 1.83 per cent, followed by energy (1.33 per cent), BSE Focused IT
(1.30 per cent), IT (1.25 per cent), teck (1.01 per cent), healthcare (0.74 per cent) and auto (0.19 per cent).
Financial Services, FMCG, industrials, power, utilities, services, capital goods and bankex were among the laggards.
As many as 2,227 stocks advanced while 1,821 declined and 132 remained unchanged on the BSE.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory. European equity markets were trading higher. US markets closed higher on Tuesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,301.87 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 0.43 per cent to USD 67.16 a barrel.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Allen, Raghuvanshi, Green power KKR to 29-run win over GT
Kolkata (PTI): Finn Allen blasted a 35-ball 93, while Angkrish Raghuvanshi hit an unbeaten 44-ball 82 as Kolkata Knight Riders kept their playoff hopes alive with a 29-run win over Gujarat Titans in the IPL match here on Saturday.
Sent in to bat, Allen went on a six-hitting spree, smashing 10 maximums and four boundaries to add 95 off 41 balls with Raghuvanshi (82).
Raghuvanshi then shared another 108 off 53 balls with Cameron Green (52 not out) to power KKR to a challenging 247 for 2.
In reply, GT could manage 218-4, riding on skipper Shubman Gill's 49-ball 85 and a 35-ball 57 from Jos Buttler. Opener Sai Sudarsan was retired hurt but returned to make a 28-ball 53 not out.
Sunil Narine (2/29) claimed two wickets and Saurabh Dubey snapped one for KKR.
For GT, Mohammed Siraj (1/50), Sai Kishore (1/38) were the wicket-takers.
Brief Score:
KKR: 247 for 2 in 20 overs (Finn Allen 93, Angkrish Raghuvanshi 82 not out, Camero Green 52 not out; Mohammed Siraj 1/50).
GT: 218 for 4 in 20 overs (Shubman Gill 85, Sunil Narine 2/29).
