Markets closed positive for the third straight consecutive day amid volatile trading session, after Prime Minister assured that the Rupee's decline will be addressed without capital controls or reversal of reforms. The S&P BSE Sensex closed up by 218.68 points or 1.19% at 18,619.72. The CNX Nifty gained up by 62.75 points or 1.16% at 5,471.80.
Among sectoral indices, Consumer Durables, Bankex, Healthcare, FMCG, IT, PSU and Oil & Gas indices advanced between 1-2% while Metal index dropped by over 2%.
Among major index gainers were, Bajaj Auto spurted up by 5.62%, followed by Cipla, TCS, HDFC Bank, Hindustan Unilever, HDFC, HeroMotoCorp and Wipro surging between 5-2%. Other notable gainers include Dr Reddys Lab, Gail (India), Sun Pharma, SBI, BHEL, RIL, ITC, ONGC, NTPC and Coal India. while L&T closed almost flat.
Among major index losers were, Jindal Steel tanked by 8.85%, Sesa Goa and Tata Steel also slipped by 2.70-2.35%. Hindalco Inda, Mahindra & Mahindra, Tata Power, Tata Steel, Maruti Suzuki, ICICI Bank, Infosys and Bharti Airtel were some of other notable losers on the list.
The Rupee rebounded back from its lower level to close up by 85 paise at 65.70 against dollar, after Prime Minister’s assurance to battle the currency’s fall and reviving economic growth.
Indian economy for first quarter for the current fiscal grew slower than expected rate at 4.4%. The economy grew at the slowest quarterly rate since the global financial crises.
Coal India for the first time after its ipo (initial public offer) traded below its offer price. It had touched a record low of 238.35, but it managed to close at 250.50 up by 0.55 paise or 0.22% from its previous day close of Rs 249.95.
The overall market breadth in was positive with 1,158 shares advancing compared to 1,072 shares declining.
