News Nation Logo

BREAKING

Share Market Update: Sensex rebounds 271 points, Nifty still above 12,150

Market Benchmark Sensex Rose By 271 Points On Thursday On The Back Of Gains In Index Heavyweights Infosys, L&T, ICICI Bank And SBI, Despite Massive A Selloff In Global Equities

By : Assem Sharma | Updated on: 23 Jan 2020, 04:19:29 PM
Closing Bell: Sensex rebounds 271 points, Nifty still above 12,150

Closing Bell: Sensex rebounds 271 points, Nifty still above 12,150 (Photo Credit: file photo )

New Delhi:

Market benchmark Sensex rose by 271 points on Thursday on the back of gains in index heavyweights Infosys, L&T, ICICI Bank and SBI, despite massive a selloff in global equities. After gyrating over 300 points in a volatile session, the 30-share BSE index settled 271.02 points, or 0.66 per cent, higher at 41,386.40. It hit an intra-day high of 41,413.96 and a low of 41,098.91.

Likewise, the broader NSE Nifty closed 73.45 points, or 0.61 per cent, down at 12,180.35. Larsen & Toubro (L&T) was the top gainer in the Sensex pack, rising by 2.98 per cent, after the company reported a 15 per cent rise in its consolidated net profit at Rs 2,560.32 crore for quarter to December 2019.

Other gainers included M&M, SBI, Titan, Infosys, Bharti Airtel and Ultratech Cement. Tech Mahindra, PowerGrid, TCS, Bajaj Auto, Reliance Industries and Maruti ended in the red. According to experts, despite carnage in other Asian equities amid fears of contagion after a deadly new virus emerged from China, stock-specific action kept domestic benchmarks buoyed.

After market hours on Wednesday, L&T reported a 15 per cent rise in its consolidated net profit at Rs 2,560.32 crore for quarter to December 2019. Likewise, Axis Bank posted a 4.5 per cent year-on-year jump in net profit at Rs 1,757 crore for the third quarter ended December 2019 amid improving asset quality.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul declined up to 2.75 per cent. European markets were also trading on a negative note in their early sessions. Brent crude oil futures fell 1.22 per cent to USD 62.44 per barrel. The rupee depreciated 9 paise to 71.28 per US dollar (intra-day).

Bullion Market Closing

Gold prices rose Rs 63 to Rs 40,723 per 10 gram in the national capital on Thursday supported by a weaker rupee and higher global demand, according to HDFC Securities. The yellow metal had closed at Rs 40,660 per 10 gram on Wednesday. However, silver prices fell Rs 95 to Rs 47,082 per kg from the previous close of Rs 47,177 per kg.

“Spot gold for 24 karat in Delhi was trading higher by Rs 63 with recovery in global gold prices and rupee depreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said. The rupee was trading around 8 paise weaker against the dollar during the day, he added. In the international market, gold was trading at USD 1,556 per ounce, while silver was trading at USD 17.67 per ounce.

“Gold prices traded higher despite the US-China trade deal as investors are still cautious regarding phase-2 deal,” Patel said adding that investors are also anxious about the spread of coronavirus in China.

For all the Latest Business News, Finance & Markets News, Download News Nation Android and iOS Mobile Apps.

First Published : 23 Jan 2020, 03:43:25 PM
Next Story