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Sensex rises 23 points to end at 38,387, Nifty slips by 11 points

New Delhi, News Nation Bureau | Updated : 20 March 2019, 04:34 PM
Sensex rises 23 points to end at 38,387(file photo)
Sensex rises 23 points to end at 38,387(file photo)

Benchmark indices opened on a positive note on Wednesday on sustained foreign fund inflow ahead of March derivatives expiry. The 30-share Sensex was trading 80.70 points, or 0.21 per cent, higher at 38,444.17 in the early session but ended just 23.28 points at 38,386.75. The gauge had gained nearly 1,500 points in the previous seven sessions.

Similarly, the NSE Nifty dropped 11.35 points to 11,521.05. Infosys, Vedanta, HCL Tech, L&T, Sun Pharma, Axis Bank and TCS were trading in the green.

Sectoral indices led by oil and gas, PSU, auto, bankex, power and consumer durables were trading in the negative zone, falling up to 1.22 per cent. Brokers said sentiment was bullish on strong buying by foreign institutional investors (FIIs), but subdued overseas cues and emergence profit-booking at existing higher levels capped the gains.

Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.

Other gainers included Yes Bank, 1.27 per cent, L&T 1.19 per cent, Sun Pharma 1.07 per cent, HDFC 0.98 per cent, Vedanta 0.84 per cent, SBI 0.23 per cent, HCL Tech 0.23 per cent, Kotak Bank 0.20 per cent, Asian Paints 0.07 per cent and RIL 0.03 per cent.

Among laggards, NTPC suffered the most, cracking 4.29 per cent and ONGC plunged 3.28 per cent.

Other losers were Coal India, Tata Steel, Maruti Suzuki, Bajaj Finance, Bajaj Auto, Tata Motors, ICICI Bank, M&M, Bharti Airtel, Axis Bank, HUL, IndusInd Bank, PowerGrid, TCS, ITC Ltd and Hero MotoCorp, falling up to 2.43 per cent.

Stocks of oil marketing companies like BPCL, HPCL and IOC, however, faced selling pressure and lost up to 5.32 per cent after global crude prices soared.

On a net basis, FIIs bought shares worth Rs 2,132.36 crore on Tuesday, while domestic institutional investors (DIIs) sold shares worth Rs 1,253.67 crore, provisional data showed.

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In the Asian region, Shanghai Composite Index fell 1.03 per cent, Hong Kong's Hang Seng fell 0.50 per cent and Singapore's Straits Times was down 0.63 per cent in their late morning trade. Japan's Nikkei, however, was up 0.08 per cent.

The Dow Jones Industrial Average ended 0.01 per cent lower in Tuesday's trade. Markets will remain closed Thursday on account of Holi. The barometer had rallied about 1,500 points in the previous seven sessions.

The rupee, meanwhile, fell 19 paise to 69.15 against the US dollar in early trade on Wednesday after crude price rose to a four-month high in global market amid increased demand for the American currency from importers.

Stocks of software exporters were centre of brisk activity after the rupee slipped below the 69 mark against the dollar. Software exporters’ majority of revenues come in dollar.

On a net basis, foreign institutional investors (FIIs) bought shares worth Rs 2,132.36 crore Tuesday, while domestic institutional investors (DIIs) sold shares worth Rs 1,253.67 crore, provisional data showed.

(With inputs from PTI) 

First Published: Wednesday, March 20, 2019 03:54 PM
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