Stocks

Sensex ends marginally higher; oil & gas stocks gain

Our Bureau Chennai | Updated on January 09, 2018

sensex

Investors stay on the sidelines in the absence of clear triggers

The Sensex and Nifty ended the session with marginal gains, as markets remained range-bound with investors keeping to the sidelines due to a lack of triggers.

The benchmark BSE index closed higher by 33 points or 0.11 per cent at 31,291.85. The broader NSE index ended up by 11.2 points or 0.11 per cent at 9,765.55. Both the indexes recorded their first gain in three sessions.

Among BSE sectoral indices, oil & gas index gained the most by 1.31 per cent, followed by healthcare 0.77 per cent, PSU 0.27 per cent and banking 0.2 per cent. On the other hand, realty index dropped 1.14 per cent, followed by power 1.1 per cent, infrastructure 0.93 per cent and auto 0.75 per cent.

Top five Sensex gainers were Dr Reddy's (+2.67%), Lupin (+2.32%), Sun Pharma (+2.24%), ONGC (+1.11%) and Axis Bank (+1.01%), while the major losers were NTPC (-2.56%), Hero MotorCorp (-2.07%), Bajaj Auto (-1.09%), TCS (-0.85%) and L&T (-0.64%).

Shares of Infosys Ltd extended losses to a third session, falling as much as 1.53 per cent, after Vishal Sikka resigned as chief executive officer on Friday. The stock has lost 14.4 per cent since Sikka's resignation up to Monday's close.

HCL Infosystems Ltd rose 18.1 per cent after signing an agreement with Apple India Pvt Ltd for distribution of iPhones and other Apple products in India.

Energy stocks were among the top gainers of the day, with Indian Oil Corp climbing 2.42 per cent.

“The markets are in a consolidation phase now after disappointing Q1 results,” said Siddharth Sedani, head and vice president, equity advisory at Anand Rathi.

“In the short-term, I see markets range-bound between 9,600-10,000 and change is unlikely unless there are strong geo-political triggers.”

Global markets

European stocks broke a three-day losing streak on Tuesday, building on gains in other markets boosted by signs of a global economic recovery and rising commodity prices.

Gains for heavyweight miners boosted European shares after strong commodities prices steadied Asian markets earlier in the session.

London copper rose to a three-year high, while zinc held close to its highest level in a decade and nickel, which is used in stainless steel, logged a fresh annual peak.

Published on August 22, 2017

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