Markets log gains for third day on buying in HDFC Bank, M&M

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Markets log gains for third day on buying in HDFC Bank, M&M


Image used for consultant goal solely.
| Photo Credit: REUTERS

Equity benchmark Sensex climbed over 225 factors to reclaim the 72,000-mark on February 15, whereas the Nifty settled near the 22,000 stage, supported by hectic buying in market heavyweights M&M, HDFC Bank and SBI amid a largely agency development in international equities.

Besides, a heavy rush on auto, vitality and utility counters additionally helped the indices, merchants stated.

Rising for the third straight session, the 30-share BSE Sensex climbed 227.55 factors or 0.32% to shut at 72,050.38. The index opened robust and touched a excessive of 72,164.97 and a low of 71,644.44 throughout intra-day trades.

Shares of HDFC Bank surged 2.15% to shut at ₹1,413.75 apiece towards its earlier shut.

The broader NSE Nifty additionally gained 70.70 factors or 0.32% to finish at 21,910.75.

“The benchmark indexes inched higher, mirroring the positive sentiment prevailing in the global market. The disinflation trend in the Euro zone, coupled with better earnings, lifted investor sentiment.

“Despite the broad-based restoration, market members are extra inclined in direction of high quality large-cap shares owing to the prevailing valuation hole, which led them to train warning on small and mid-caps,” stated Vinod Nair, Head of Research, Geojit Financial Services.

M&M was the largest gainer in the Sensex chart, rising 6.51%, adopted by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro.

In distinction, Axis Bank, ITC, HUL, Nestle India and Sun Pharma had been among the many laggards.

In Asia, Japan’s Nikkei and Hong Kong’s Hang Seng settled with gains, whereas South Korea’s Kospi slipped into the crimson.

China’s monetary markets are closed for the Lunar New Year holidays.

European markets had been buying and selling on a optimistic notice in early offers.

The U.S. market settled with gains in the in a single day commerce on Wednesday.

Global oil benchmark Brent crude slipped 0.09% to $81.53 a barrel.

In the earlier session, Sensex rose by 267.64 factors or 0.37% to shut at 71,822.83 factors. Nifty additionally gained 96.80 factors or 0.45% to finish the day at 21,840.05 factors.

Foreign Institutional Investors (FIIs) had been web sellers in the capital markets on Wednesday as they offered shares price ₹3,929.60 crore, in response to alternate information.



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