Sensex closed up 78 points at 57634 while Nifty closed up 13 points at 16985. Sensex closed below 58000 even today while Nifty closed below 17000.
The stock markets may have opened with a red mark on Thursday but closed with a green mark. Sensex closed up 78 points at 57634 while Nifty closed up 13 points at 16985. Sensex closed below 58000 even today while Nifty closed below 17000.
The decline in the local stock markets for the last five days came to an end on Thursday and the BSE Sensex closed up by over 78 points in the last hour of trading due to buying in bank, energy and financial stocks. A good opening in European markets had a positive impact on investor sentiment. However, concerns about Switzerland’s financial services company Credit Suisse and the failure of two banks in the US have raised doubts about the global banking system.
The benchmark index based on thirty shares … Sensex closed at 57,634.84 points with a gain of 78.94 points, or 0.14 percent. During the trading, it went up to 57,887.46 points and came down to 57,158.69 points.
Out of 30 Sensex stocks, 17 were in profit. Similarly, the 50-share National Stock Exchange’s Nifty closed at 16,985.60 points with a slight gain of 13.45 points, or 0.08 percent.
Of the 50 Nifty stocks, 32 were in profit. Both the benchmark indices were in the red for most of the trading session with volatility. But closed in the lead by buying in the last minute.
Nestle India was the top gainer in the Sensex pack, gaining 2.54 per cent. Apart from this, Asian Paints, HUL, Titan, Sun Pharma, State Bank of India, PowerGrid and Bajaj Finserv also gained majorly.
On the other hand, Tata Steel, IndusInd Bank, Bharti Airtel, Infosys, Wipro, HCL Tech and Reliance remained losers. In these, there was a decline of up to 3.31 percent.
In other Asian markets, China’s Shanghai Composite, Japan’s Nikkei, Hong Kong’s Hangseng and South Korea’s Cospi were in heavy losses.
There was a boom in early trading in major markets of Europe. The announcement of Credit Suisse’s plan to increase cash had a good effect on the market.
Credit Suisse has said that it will borrow funds from the Swiss central bank to deal with the crisis and withdraw its $3 billion loan.
There was a mixed trend in the US markets on Wednesday.
Meanwhile, international oil benchmark Brent crude rose by 0.76 per cent to $74.25 per barrel.
Foreign portfolio investors sold shares worth Rs 1,271.25 crore on Wednesday, according to stock market data.