Sensex Closes 235 Points Higher; Telecom & Bank Stocks Lead

Indian share markets erased their day's losses and were trading on a positive note in afternoon session. At the closing bell, BSE Sensex ended up by 235 points, while, NSE Nifty ended up by 66 points.

Sectoral indices ended on a mixed note with realty stocks, and IT stocks witnessing maximum selling pressure. While, telecom stocks and bank stocks ended the day in green.

Globally, Asian stock markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.9%, while the Hang Seng led the Shanghai Composite lower. They fell 0.4% and 0.3% respectively. European markets finished mixed as of the most recent closing prices. The DAX gained 0.2%, while the CAC 40 led the FTSE 100 lower. They fell 1.5% and 0.5% respectively.

Speaking of stocks and portfolio, if you wondering whether the boring stocks will do well against smallcaps as well as asset classes like gold and fixed income over the long term, take a look at this chart.

Boring Bluechips are Necessary for Risk Hedged Returns

 

The BSE 500 which represents a mix of bluechip and midcap stocks, underperformed the BSE smallcap index only over the 5-year period.

And even in a year of sharp market correction (like 2018), the correction in the index is much lesser than that of the smallcap index.

So, keep your watch on stocks that are safe, time tested and borderline boring.

In the news from the currencies space, the rupee was trading at 69.79 to the dollar in the morning trade. It hit a low of 70.06 and a high of 69.75 in the course of trading today.

The rupee has gained on increased selling of the US currency by exporters and banks. However, a lower opening of the domestic equity markets capped the rise, the reports noted.

At the Interbank Foreign Exchange, the rupee opened on a strong note at 69.79 a dollar against the previous close of 70.14. Further, the domestic unit surrendered early gains to quote at 69.95, showing a gain of 19 paise.

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And to know what's moving the Indian stock markets today, check out the most recent 

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