Supported by positive Asian and European markets, the Indian stock market closed Wednesday trading session in the positive zone for the second consecutive session.
Investors still expected sentiment to remain weak given continued worries about the economic impact from Narendra Modi’s action, with volatility expected ahead of the monthly expiry of derivative contracts on Thursday.
Nifty ended the day at 8,033, up 31 points, while BSE Sensex closed at 26,052, up 91 points.
Economic Affairs Secretary Shaktikanta Das said that banks, NABARD and RBI have been advised to make cash available to district cooperative banks to ensure that farmers have access to funds. A total of Rs 21,000 crore has been sanctioned by NABARD to district central cooperative bank.
With the new currencies yet to reach many of the rural areas, the government said Rs 500 and Rs 2000 notes have been made available in 1.55 lakh post offices across the country. In addition, to promote greater usage of payments through e-wallets, RBI has decided to increase the monthly transaction limit for individuals from Rs 10,000 to Rs 20,000. Similar enhancements have also been announced by RBI for merchants.
Asian markets, Hong Kong’s Hang Seng and Shanghai Composite Index were marginally down, while Japan’s Nikkei was marginally up.
The S&P BSE Sensex closed at 26,052, up 91 points, while NSE Nifty ended the day at 8,033, up 31 points. A total of 6 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE. Out of 1,883 stocks traded on the NSE, 371 declined, 1243 advanced and 269 remained unchanged today.
The BSE Mid-cap Index is trading up 1.22% at 12043, whereas BSE Small-cap Index is trading up 1.51% at 11802.
Healthcare, Metal, Consumer Durables, Capital Goods sectors saw promising traction towards end of the trading hours, while Banking, Finance, Telecom, Power sectors indicated lack of trading activity on BSE.
The rupee was trading lower at Rs. 68.50/$.
Out of 1,883 stocks traded on the NSE, 371 declined, 1243 advanced and 269 remained unchanged today.
Top 5 Nifty Gainers: Asian Paints (1.54%), Infosys Ltd. (0.72%), TCS (0.72%), Wipro (0.46%) and Bajaj Auto (0.41%).
Top 5 Nifty Losers: Tata Motors (-2.55%), NTPC (-2.28%), ICICI Bank (-1.15%), GAIL (-1.43%) and Sun Pharma (-1.26%)
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