Sensex, Nifty End Higher Ahead Of US Fed Meet

Business

oi-Sunil

By Sunil Fernandes

Updated: Tuesday, December 15, 2015, 15:40 [IST]

Benchmark indices ended the day higher, as European markets rallied, following a recovery in oil prices. Asian markets also mostly ended higher after strong closings in the US. All eyes are on the US Fed meet of Dec 15-16, which will be followed by a press conference later on Dec 16. Most analysts are expecting the US Fed to announce its first interest rate hike since June 2006.

The Sensex ended the day higher by 170 points, while the Nifty gained 50 points in trade. Leading the set of gainers was ONGC, which had fallen sharply in the last few trading sessions, following a drop in oil prices. Other notable Nifty gainers were Hindustan Unilever, Tata Motors, Sun Pharma and Lupin Laboratories.

Banking shares were once again among the losers with ICICI Bank and Axis Bank, both hitting 52-week lows in trade. Other losers from the space were State Bank of India and Canara Bank.

M&M & Tech Mahindra both gained ground following reports of the acquisition of Italian car design company Pininfarina.

Hotel Leela gained ground following the completion of sale of The Leela, Goa. The stock was up 3 per cent on hopes that it would help the company pare debts.

Midcap stocks also saw good buying interest with Bata India, Hindustan Zinc and TVS Motors among the gainers. Meanwhile, the rupee was trading at 67.05 to the dollar, marginally above Monday's close of 67.10.

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