STOCKS RISE FOR 4TH DAY IN A ROW AMID POSITIVE GLOBAL TRENDS
MUMBAI: The Sensex and Nifty notched up gains for the fourth consecutive session on Thursday as monthly derivatives expired amid a largely positive trend in global equities after the US Fed reiterated its dovish stance. A strengthening rupee also bolstered investors’ sentiment, analysts said.
After touching the 50,000mark in opening trade, the 30-share BSE Sensex pared some gains before ending at 49,765.94, up 32.10 points, or 0.06%. Similarly, the broader NSE Nifty advanced 30.35 points, or 0.20% to 14,894.90.
Bajaj Finserv was the top gainer in the Sensex pack, rallying 6.60%, followed by Bajaj Finance, Axis Bank, Reliance Industries Ltd (RIL), IndusInd Bank, Dr Reddy’s and Sun Pharmaceutical.
On the other hand, HDFC, HCL Tech, Bajaj Auto, L&T, SBI and M&M were among the major laggards, dropping up to 1.76 per cent.
“The domestic market was torn between negatives and positives on volatile trade owing to the monthly F&O expiry. The Fed in its meeting sealed economic confidence by keeping its monetary policy loose and reaffirming aggressive support through bond buying. Metal stocks continue to outshine other sectors on strong outlook,” said Vinod Nair, head of research at Geojit Financial Services.
Sector-wise, BSE metal, basic materials, energy, oil and gas and healthcare indices ended up to 5.23% higher, while auto, telecom, capital goods and consumer durables finished in the red.
In the broader markets, the BSE midcap index slipped 0.18%, while the smallcap gauge inched up 0.13% up.
Meanwhile, India saw a record single-day rise of 3,79,257 new coronavirus infections, pushing the total tally of Covid-19 cases to 1,83,76,524, while active cases crossed the 30-lakh mark, according to the Union health ministry.