Sensex Ends 45 Points Higher On Positive Macro Data

Posted By: Religare
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The Indian equities ended tad higher on Wednesday, led by gains in FMCG and Teck stocks, as investors were buoyed by robust fourth quarter GDP data which showed that Asia"s third biggest economy accelerated last quarter driven by strengthening consumption, bolstering risk taking appetite.

However, weak Asian cues and profit booking across banking, metal, realty and capital goods shares capped the upmove.

Sensex Ends 45 Points Higher On Positive Macro Data

Resuming gaining streak after a day"s break, the BSE SENSEX closed at 26713.93, up by 45.97 points or by 0.17 per cent, and the NSE Nifty ended at 8179.95, up by 19.85 points or by 0.24 per cent.

In the bullish trade, the BSE Sensex touched intraday high of 26857.25 and intraday low of 26671.86, while the NSE Nifty touched intraday high of 8215.35 and intraday low of 8171.05.

Gaining momentum, economy grew by 7.9 per cent in March quarter to consolidate India's position as the fastest growing major economy with a five-year high growth rate of 7.6 per cent for the full fiscal on robust manufacturing growth, reported PTI.

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 202.20,+4.98%), Asian Paints Ltd. (Rs. 1018.95,+3.54%), Bharti Airtel Ltd. (Rs. 363.00,+3.23%), ITC Ltd. (Rs. 360.40,+2.50%), Tata Consultancy Services Ltd. (Rs. 2625.00,+1.94%), among others.

Meanwhile, State Bank of India (Rs. 197.90,-3.39%), ICICI Bank Ltd. (Rs. 240.10,-2.08%), Bharat Heavy Electricals Ltd. (Rs. 118.25,-2.03%), Tata Motors Ltd. (Rs. 449.20,-1.96%), Cipla Ltd. (Rs. 465.35,-1.49%), were among top losers on BSE.

On the sectoral front, FMCG and Teck stocks emerged as top gainers, adding as much as 1.6 per cent and 1.3 per cent respectively.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 2923, shares advanced were 1393 while 1366 shares declined and 164 were unchanged.

On the global front, the Asian stocks ended in red as oil extended a slump while a continued rout in Chinese manufacturing signaled worries over the health of the world"s second biggest economy, souring the lure for risky assets.

China"s Shanghai Composite and Hang Seng ended with modest losses while Japan"s Nikkei 225 fell as a stronger yen eroded the lure for exporter stocks.

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