Sensex Today: Indian benchmark indices exhibited lacklustre movement in the remainder of the day. In the broader markets, auto, consumer durables, hotel and footwear stocks logged smart gains.
Among the frontline indices, the S&P BSE Sensex touched a high of 59,837 in early deals, and thereafter slipped into red to a low of 59,490. The 30-share index eventually ended 65 points higher at 59,632. In the process, it snapped its three-day losing streak wherein the index had declined 863 points.
The NSE Nifty 50 index was seen testing the 17,600-level for a major part of the trading day. The Nifty finally settled at 17,624 – up six points.
NTPC and Tata Motors were the top gainers among the Sensex 30, up around 1.5 per cent. The latter witnessed buying interest after Jaguar Land Rover announced its plan to become an ‘electric-first’ luxury carmaker by 2030.
Asian Paints, Bharti Airtel, Larsen & Toubro, IndusInd Bank and SBI were the other notable gainers. FMCG major ITC topped the Rs 5-trn market cap for the first time today as the stock hit a new high at Rs 402.60.
On the other hand, Hindustan Unilever slipped over a per cent. Infosys, Sun Pharma and Nestle ended on a tepid note.
In the broader market, the BSE Midcap and Smallcap indices too ended on a flat note. Sectorally, consumer durables, footwear and hotel stocks logged smart gains in trade on Thursday.
Among individual stocks, Mastek zoomed over 11 per cent on the back of strong Q4 performance. Whereas, TTK Healthcare ended a per cent lower after the company’s board approved delisting of the equity shares at Rs 1,051 per share.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “New age digital stocks like Paytm, Zomato and Nyka have corrected hugely from their highs. Paytm and Zomato are still loss-making companies; so traditional valuation parameters don’t apply. But considering their enormous growth potential for many years to come, their risk-reward is now favourable for investors willing to take some risk.”
Global Cues
Asian stocks edged lower on Thursday, while the dollar was on the back foot as investors remained cautious ahead of an expected 25 basis point hike in interest rates by the U.S. Federal Reserve next month.MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.16% lower, while Japan’s Nikkei was up 0.07%. Australia’s S&P/ASX 200 index was 0.07% lower.
Tokyo shares opened lower on Thursday following recent gains as investors parsed US corporate earnings announcements for new cues.The benchmark Nikkei 225 index slipped 0.53 percent, or 152.94 points, to 28,453.82 while the broader Topix index sagged 0.52 percent, or 10.51 points, to 2.029.73.
The S&P 500 ended virtually unchanged on Wednesday while the Dow dipped as investors digested a mixed bag of corporate earnings, including upbeat reports from medical technology companies, countered by weakness in Netflix shares.
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