ANI
11 Sep 2019, 16:48 GMT+10
Mumbai (Maharashtra) [India], Sept 11 (ANI): Equity benchmark indices moved in a narrow range amid cautious mood on Wednesday but traded in the green with an uptick in auto and metal stocks.
The BSE SP Sensex closed 125 points or 0.3 per cent higher at 37,271 while the Nifty 50 moved up by 33 points to 11,036.
Most sectoral indices at the National Stock Exchange (NSE) were in the green except for Nifty IT which slipped by 1.37 per cent and FMCG which was down by 0.3 per cent.
Nifty realty was up by 4.1 per cent while PSU bank gained by 3.1 per cent. Nifty auto gained by 3.6 per cent, a day after Finance minister Nirmala Sitharaman said the government will soon respond to the demands of the automobile sector, which is facing the worst slump in more than two decades. Consequently, Nifty metal too was up by 2.3 per cent.
Among stocks, Yes Bank was a star performer clocking gains of 13 per cent to close at Rs 71.30 per share following reports that its shareholding structure may undergo a major churn by the year-end.
Its founder Rana Kapoor has reportedly initiated talks to sell a part of his holding to One97 Communications Ltd, the parent of Paytm and Paytm Payments Bank. Kapoor and his family offices hold 10.6 per cent stake in Yes Bank.
Auto stocks were on a high, hoping for a cut in Goods and Services Tax on vehicles to revive sales during the crucial festive season. Tata Motors accelerated by 10.6 per cent to close at Rs 134.90 per share. Eicher Motors was up by 5.1 per cent, Maruti by 3.8 per cent and Bajaj Auto by 2.8 per cent.
Metal stocks too witnessed handsome gains with JSW Steel edging higher by 3.7 per cent, Tata Steel by 3.6 per cent and Vedanta by 3.3 per cent.
However, IT stocks were in the red with Wipro sliding by 2.9 per cent and HCL Technologies by 2.7 per cent. The other prominent losers were ONGC, GAIL, NTPC, Coal India, Power Grid, Zee Entertainment, and Sun Pharma.
Meanwhile, Asian stock markets held firm as hopes of diminishing US-China tensions and reduced risk of no-deal Brexit prompted investors to take profit ahead of key central bank policy meetings around the globe.
Japan's Nikkei rose by 0.96 per cent, Hong Kong's Hang Seng by 1.78 per cent and South Korea's KOSPI Index by 0.84 per cent. But China's Shanghai Composite Index closed 0.41 per cent lower. (ANI)Get a daily dose of South East Asia Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to South East Asia Post.
More InformationIn the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...