Sensex Ends 190 Points Higher; Consumer Durable And Healthcare Stocks Witness Buying

After trimming sharp losses in the afternoon session, Indian share markets continued to witness buying interest and ended the day on a positive note. Gains were largely seen in the consumer durables sector and healthcare sector, while oil & gas stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 190 points (up 0.5%) and the NSE Nifty closed higher by 61 points (up 0.6%). Both, the  BSE Mid Cap index and the BSE Small Cap index, ended the day up by 1.5%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 0.07% and the Nikkei was trading down by 0.3%. The Shanghai Composite stood higher by 0.37%.

European markets were trading on a positive note. The FTSE 100 was up by 1.1%. The DAX was up by 1.4% while the CAC 40 was up by 1.5%.

The Indian rupee witnessed selling pressure today against the US dollar as nagging worries on global trade war front and uncertain crude prices weighed forex market sentiment.

Besides, the trading pattern in the forex market was impacted by massive sell-offs in domestic equities as investors panicked over exit polls suggesting the Congress giving a tough fight to the ruling BJP in state elections.

The rupee opened lower at 71.28 against the US dollar today and dropped further to 71.44. It was trading at 71.84 to the US$ at the time of writing.

Meanwhile, capital markets regulator and the stock exchanges stepped up their surveillance systems today to keep manipulative forces in check amid an extreme volatility expected due to the sudden resignation of RBI Governor Urjit Patel and the state assembly election results.

Speaking of elections, are we heading for a volatile election year?

If history is anything to go by, it's time to fasten the seat belt.

 

Every year before the Indian General Election, the stock market has bordered on the extreme. Two of these elections have also coincided with one of the biggest stock market corrections in recent history.

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