Sensex Ends 280 Points Higher; Shree Cement & HDFC Bank Among Top Nifty Gainers

Indian share markets witnessed volatile trading activity throughout the day today and ended higher.

Benchmark indices gained nearly 1% in today's volatile session after the Supreme Court said that interest waiver cannot be granted and that no direction can be issued to either government or RBI for sector-wise relief.

At the closing bell, the BSE Sensex stood higher by 280 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 78 points (up 0.5%).

UltraTech Cement and IndusInd Bank were among the top gainers today.

ONGC and Power Grid, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,925, up by 184 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1% and 0.8%, respectively.

On the sectoral front, gains were largely seen in the banking sector, finance sector and energy sector.

FMCG stocks and metal stocks, on the other hand, witnessed selling pressure.

Shares of UltraTech Cement and Aavas Financiers hit their respective 52-week highs today.

Asian share markets ended on a mixed note tracking Wall Street as bond yields eased, allaying concerns around rising inflation.

The Shanghai Composite stood higher by 1.1% while the Nikkei ended down by 2.1%. The Hang Seng ended lower by 0.3%.

US stock futures are trading lower today indicating a negative opening for Wall Street indices with Dow Futures trading down by 134 points (down 0.4%).

The rupee is trading at 72.45 against the US$.

 

Near Term Volatility in Sensex Compensated by Long Term Gains

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

In news from the commodity space, domestic gold prices fell for the second day in a row amid weak global cues.

Gold prices for the latest contract on MCX are trading down by 0.3% at Rs 44,920 per 10 grams.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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