Saturday, 15 December, 2018

Sensex ends 322 points higher; Nifty settles at 10491

Stock markets Sensex ends 322 points higher; Nifty settles at 10491
Nellie Chapman | 24 February, 2018, 07:10

The BSE MidCap Index ended with a positive 1.47% and the BSE SmallCap Index also gained 1.54%.

Midcaps and small cap indexes rose 239 points and 272 points, respectively.

ONGC and Oil India were modestly higher after oil prices rose around 1.5 percent Thursday on data showing an unexpected drawdown in USA crude inventories.

Big gainers that lifted both the key indices are Tata Steel, Sun Pharma, Yes Bank, Bharti Airtel, ONGC, Dr Reddy's, NTPC, SBI, Axis Bank, TCS, Power Grid, IndusInd Bank, HDFC Bank, RIL, ICICI Bank, Kotak Bank, L&T, Bajaj Auto, ITC Ltd, Maruti Suzuki, Tata Motors, Hero MotoCorp, Adani Ports and HDFC Ltd, surging up to 6.26 per cent. Nearly all the sectors participated in the move, banking and metals contributed maximum to the surge. Gains in metal and pharmaceutical stocks underpinned the rise in indices today, but all sectoral indices ended higher than their previous close. It had declined about 8 percent since the start of the year, as of Thursday's close.

Federal Bank jumped 5 percent after its board approved a proposal to buy 26 percent stake in Equirus Capital.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.4 percent, but was still on track to end the week barely changed.

On Wall Street, the Dow Jones added 0.7 per cent, the S&P-500 endeda tad firmer while the Nasdaq lost 0.11 per cent. Hong Kong's Hang Seng added 1 percent to 31,267.17 and Seoul's Kospi rose 1.5 percent to 2,451.52. Energy companies rose after crude oil prices recovered from an early slide.

Global equities rebounded today as fears of quicker interest rate hikes in the United States subsided, in turn lifting the domestic benchmark Nifty 50 and Sensex by 1% each to end a three-week losing streak.