Sensex Ends Higher As Global Markets Recover

Benchmark indices ended higher, as mounting tensions in the Middle East ebbed and heavyweight stocks gained. Indices began on a solid note, with the Sensex crossing the 41,000 points with a jump of more than 400 points. However, selling pressure through the day erased a significant part of those gains.

The Sensex ended the day with gains of 192 points, while the Nifty gained 59 points in trade. Heavyweight, Reliance Industries and HDFC Bank contributed significantly to the gains.

Shares of HDFC Bank gained 1.4 percent following strong loan and deposits growth in quarter ended December 2019.

The country's second largest private sector lender in its BSE filing on January 6 said it registered around 20 percent growth in advances during the quarter YoY.

Advances aggregated to approximately Rs 9.3 lakh crore as of December 2019, against Rs 7.81 lakh crore as of December 2018. The top gainers from the BSE Sensex were Tata Steel, HDFC Bank Ltd, Reliance Industries and NTPC Ltd.

The top losers of the BSE Sensex pack were Hero MotoCorp, Bharti Airtel and Infosys. Shares of GM Breweries fell as after the company announced its December quarter results.

With mounting tensions in the Middle East, markets across the globe including India are expected to remain volatile.