Markets End Higher Ahead of F&O Expiry, US Fed Meet

Business

oi-Sunil

By Sunil Fernandes

Updated: Wednesday, July 29, 2015, 15:33 [IST]

Benchmark indices ended the day higher ahead of F&O expiry on Thursday and statement from the US Fed due later today, which would provide hints on a likely interest rate hike in the US. Today's gains meant the indices broke a 4-day losing streak.

Check Sensex gainers and losers here

The Sensex ended the day higher by 104 points, while the Nifty gained 38 points. Leading the set of losers in trade was heavyweight ITC along with State Bank of India, Tata Power, Reliance Industries and Dr Reddy's.

Shares in Yes Bank rallied 2 per cent after the company reported a good set of quarterly numbers. However, PSU banking shares came in for some heavy round of selling pressure with stocks like Canara Bank and Syndicate Bank falling below their 52-week low.

PNB, which had rallied a huge 4 per cent following its quarterly numbers shed 2 per cent in trade. IT stocks lent support to the markets with Infosys and HCL Tech among the gainers.

Shares in Glenmark Pharma fell a huge 5 per cent after a foreign brokerage firm downgraded the stock. Jet Airways shares soared after hopes of a solid performance were raised following good results from SpiceJet. The shares were up 11 per cent at one stage in trade.

Meanwhile, Asian markets saw some rebound in trade following a recovery by the Shanghai Composite. Europe was trading with marginal losses ahead of the US Fed Meeting announcement.

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