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| Photo Credit: Reuters
Market benchmark indices Sensex and Nifty ended with marginal gains on April 20 after falling in the previous three days, helped by fag-end shopping for in vitality, telecom and utility shares.
“Investors remained cautious amid renewed foreign fund outflows and prevailing risk-off sentiments,” merchants mentioned.
In a highly volatile trade, the 30-share BSE Sensex climbed 64.55 factors or 0.11% to settle at 59,632.35. During the day, it hit a excessive of 59,836.79 and a low of 59,489.98. The broader NSE Nifty went up by 5.70 factors or 0.03% to complete at 17,624.45.
Among the Sensex companies, Asian Paints, NTPC, Tata Motors, Bharti Airtel, State Bank of India, Larsen & Toubro, Wipro, Tech Mahindra, Tata Consultancy Services, ITC, HDFC Bank and Maruti had been the most important winners.
Hindustan Unilever, Infosys, ExtremelyTech Cement, Bajaj Finance, Nestle, Axis Bank, Reliance Industries and HDFC had been among the many laggards.
In Asian markets, Japan and Hong Kong settled in the constructive territory, whereas Seoul and Shanghai ended decrease. European markets had been buying and selling in the unfavourable zone. The U.S. markets had ended largely decrease on Wednesday.
“The ongoing Q4 earnings is the focus area of the market. It has a negative bias due to lower-than-anticipated initial results announced, especially in the IT sector. The global market has been unsupportive due to expectation of another rate hike and mixed earnings released in the U.S.
Given cautious global sentiment, withdrawal by FIIs during the week has hampered the market trend,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.
Falling for the third day, the BSE Sensex declined 159.21 factors or 0.27% to settle at 59,567.80 on Wednesday. The Nifty dipped 41.40 factors or 0.23% to finish at 17,618.75.
Meanwhile, international oil benchmark Brent crude declined 1.89% to $81.55 per barrel. Foreign Portfolio Investors (FPIs) offloaded equities value ₹13.17 crore on Wednesday, based on alternate knowledge.
