Friday, November 15, 2019
News

Sensex ends 85 points higher, Nifty closes above 11,680 (Lead)

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai | Wednesday, 2019 11:45:05 PM IST
Sensex and Nifty on Wednesday advanced for the third successive day despite US President Donald Trump saying that a hike in tariffs on Chinese products is still an option.

The Sensex closed 84.60 points higher at 39,215.64, while the Nifty closed 24.90 up at 11,687.50.

"The market was range bound while bank nifty outperformed in expectation of transfer of RBI reserves to the government. Q1FY20 is unlikely to provide cheer to the investors due to risk of downgrade in FY20 earnings given the muted expectation," said Vinod Nair, Head of Research, Geojit Financial Services.

Nair added that the finance and cement sectors are expected to be strong performers, while auto, metal and oil and gas sectors are likely to underperform due to weak consumer demand, lower realisations and slowdown in the global economy.

Spice Jet closed nearly 8 per cent higher at Rs 141.95 apiece, while private lender Yes Bank shed over 5 per cent to end at Rs 98.45 per stock ahead of its quarterly results.

DCB Bank shares closed down 16.3 per cent after the lender reported dismal set of earnings for the quarter ended June 2019. Fall in credit growth, elevated provisions and weak asset quality with rising slippages hit earnings in the June quarter.

Resurgent trade tensions, concern over the outlook for corporate America and the growing risk of a chaotic Brexit in the United Kingdom dampened appetite for equities on Wednesday while keeping alive interest in the dollar and government bonds, said Deepak Jasani of HDFC Securities.

--IANS ravi/arm

( 267 Words)

2019-07-17-17:42:07 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Equity indices in the green, banking sto...
Govt to fund development of NE: Tribal A...
Retrofitting technology to convert conve...
ED arrests Malvinder Singh, Sunil Godhwa...
GoAir grounds flight crew for overshooti...
Govt to set up North East Industrial Cor...
More...
 
INDIA WORLD ASIA
JNU students to intensify protest on Fri...
Stubble burning to abate as wheat sowing...
JNU admin block vandalized; VC says will...
On Children's Day, Sonowal launches app ...
AGR fallout: Vodafone Idea posts Rs 50,9...
IT raids at 37 premises of BMC contracto...
More...    
 
 Top Stories
Shame they couldn't give you a 'bla... 
Lalu slams Bihar govt accusing it o... 
BSP condemns RSS' stand on Sabarima... 
CRPF stands at forefront of fight a... 
CJI Gogoi issues notices in all cas... 
ONGC Q2 profit falls by 24 pc to Rs... 
Maharashra CM will be from Shiv Sen... 
Tamil Nadu: SI sentenced to life im...