Sensex Ends 246 Points Higher; Capital Goods And Power Stocks Witness Buying

Extending gains to the sixth day, Indian share markets traded on a positive note most of the day and ended higher.

All sectoral indices ended on a positive note with stocks in the power sector, capital goods sector and realty sector witnessing maximum buying interest.

At the closing bell, the BSE Sensex stood higher by 246 points (up 0.6%) and the NSE Nifty closed higher by 76 points (up 0.7%). The BSE Mid Cap index ended the day up by 1.8%, while the BSE Small Cap index ended up by 1.7%.

Asian stock markets finished on a negative note as of the most recent closing prices. The Hang Seng was down 0.5% and the Nikkei was up 0.2%. The Shanghai Composite stood lower by 1.3%.

The rupee was trading at 71.12 to US$ at the time of writing.

Speaking of Indian stock markets, the stock market has not been kind to investors of late.

There has been a sudden shift in market sentiment on the back of same major developments.

And investors across the rank and file - from institutional to retail - have been at the receiving end. The mayhem has spared no one.

In the news from the engineering sector, BHEL share price was in focus today. The stock of the company witnessed huge buying interest on reports suggesting that the government will likely cut its stake in the company.

As per the news, the government may consider bringing down its stake in state-owned BHEL and National Mineral Development Corporation (NMDC).

The stake in BHEL may be pared in tranches to 26% from 63.2% now.

The government may also look to sell the state-run power player's non-manufacturing units to private players.

Four to five units of BHEL are reportedly marked for sale to private players this fiscal.

An inter-ministerial group is expected to meet soon to discuss the stake sale.

Earlier in October, the government cleared disinvestment in five PSUs, a move which is expected to cover nearly 60% of its disinvestment target for FY20.

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

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