Sensex Ends Marginally Higher; Realty And Power Stocks Witness Buying

After trading on a volatile note, Indian share markets witnessed some buying interest and ended the day marginally higher. Gains were largely seen in the realty sector and power sector, while healthcare stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 46 points (up 0.1%) and the NSE Nifty closed higher by 7 points (up 0.1%). Both, the BSE Mid Cap index and the BSE Small Cap index, ended the day up by 0.5%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng stood up by 2.4% and the Nikkei was trading up by 0.9%. The Shanghai Composite stood higher by 2.5%.

European markets were also trading on a positive note. The FTSE 100 was up by 2.2%. The DAX was up by 2.5% while the CAC 40 was up by 2%.

The rupee was trading at 70.22 to the US$ at the time of writing.

GSK Consumer share price was in focus today on reports that Hindustan Unilever Ltd (HUL) will merge with GSK Consumer for a transaction valued at Rs 317 billion in India's largest deal in consumer goods space.

In the news from automobile space, Ashok Leyland share price was witnessing selling pressure on the back of weak auto sales numbers reported by the company.

Moving on to the news from the commodity space, crude oil was witnessing buying interest today. Crude oil prices rose by around 4% in early trades today after the United States and China agreed on a truce in their trade conflict.

Gains were also seen ahead of a meeting by producer club OPEC this week that is expected to result in a supply cut.

As per the news, the Organization of the Petroleum Exporting Countries (OPEC) plus Russia and other allies are meeting on 6th and 7th December. Producers are discussing a supply curb of 1 million to 1.4 million barrels per day (bpd) and possibly more.

Note that OPEC's de-facto leader Saudi Arabia wants the cartel and its allies to cut output by about 1.4 million barrels per day (bpd), around 1.5% of global supply.The OPEC meeting in Vienna will follow a gathering by the Group of 20 (G20) nations in Argentina, at which oil policy is expected to be discussed. The meet will also potentially lay the groundwork for an OPEC deal.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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