Post Session: Sensex ends 184 pts higher; Realty, metals rally
07/11/2019 16:30

The benchmark indices ended higher on Thursday as investor sentiment remained buoyed on Rs 25,000 crore booster dose for the realty sector. That apart, reports that government may announce measures for the crisis-hit NBFCs also boosted investor confidence. On the global front, US-China trade truce news further bolstered risk appetite of the equity investors.

Volatility index India VIX fell over 4 per cent to 15.10 levels.

Among the sectoral indices on the NSE, Nifty Metal index advanced the most, followed by Nifty Realty. Realty stocks rallied during the session after the Union Cabinet on Wednesday approved the setting up of a Rs 25,000 crore alternative investment fund (AIF) to revive around 1,600 stalled housing projects across top cities in the country. On the contrary, PSU bank stocks declined the most. The Nifty PSU Bank index slipped 1.50 per cent to settle at 2,482.35.

Overseas, European shares hit a more than 4-year peak and bond yields shuffled higher on Thursday, as Beijing signalled a ‘phase 1’ trade deal with the United States was close to being sealed.

Meanwhile, Oil prices rose on Thursday as increasing hopes of a trade truce between the United States and China helped investors shrug off data showing a huge increase in U.S. crude stockpiles. Benchmark Brent crude rallied 1.2 percent to $62.49 a barrel, after having fallen almost 2 percent on Wednesday.

Among shares, YES Bank, on the other hand, slipped over 3 per cent to Rs 66.5 after the global rating agency Moody’s placed the private lender’s foreign currency issuer rating of ‘Ba3’ under review for downgrade. The 30-share benchmark index closed trading at 40653.74 up by 183.96 points or by 0.45 per cent, while the NSE Nifty was at 12012.05 up by 46 points or by 0.38 per cent.

The BSE Sensex touched intraday high of 40688.27 and intraday low of 40421.07 The NSE Nifty touched intraday high of 12021.4 and intraday low of 11946.85.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 440.45,+3.02%), IndusInd Bank Ltd. (Rs. 1380.90,+2.88%), Reliance Industries Ltd. (Rs. 1458.80,+1.86%), ITC Ltd. (Rs. 265.90,+1.78%), Vedanta Ltd. (Rs. 160.95,+1.74%), among others.

The top losers of the BSE Sensex pack were YES Bank Ltd. (Rs. 66.50,-3.27%), Hindustan Unilever Ltd. (Rs. 2137.80,-1.93%), Tata Motors Ltd. (Rs. 78.90,-1.80%), Oil And Natural Gas Corporation Ltd. (Rs. 142.35,-1.69%), Axis Bank Ltd. (Rs. 734.65,-1.67%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2938 , shares advanced were 1444 while 1288 shares declined and 206 were unchanged.