MARKET CLOSING UPDATES: Sensex and Nifty indices snapped their 3-day losing streak backed by consistent gains in FMCG, power and select financial shares. The overall market trend turned cautiously positive as the US, UK stock futures edged higher.
The BSE Sensex opened this morning 160 points or so higher at 57,312, but later fell to a low of 57,086 as market players remained skeptical. But in the later part of the trading day, the chart showed a steady ascent. At the closing point, the Sensex finally broke its three-day losing streak by finishing 479 points higher at 57,626. The NSE Nifty 50 increased 140 points to 17,124 and recaptured the 17,100-level.
PowerGrid Corporation and NTPC were the top gainers among the Sensex 30 stocks, rising 3.5 percent and 2.5 percent, respectively. Axis Bank also increased by more than 3 percent. In advance of reporting its Q2 results on Thursday, Infosys was up 0.4 percent.
The other significant winners included IndusInd Bank, Mahindra & Mahindra, UltraTech Cement, HCL Technologies, Nestle India, Kotak Bank, Hindustan Unilever, HDFC, Larsen & Toubro, and SBI. With losses of 1.5 percent each, Asian Paints and Dr. Reddy's were two of the notable losers.
The BSE Midcap index had a 0.7 percent increase in the overall markets, but the Smallcap underperformed and only saw a 0.2 percent increase.
The BSE Auto, Bankex, Realty, FMCG, Metal, and Power indices all saw gains between 1 percent and 1.7 percent. Each sectoral index finished in the green.
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