By: Shree1news, 13 JAn 2021
Buying in select banking and automobile stocks helped markets pare steep losses, logged earlier immediately, and flat on Wednesday. Investors turned to profit-booking, after benchmarks scaled recent lifetime highs within the morning deals, and dragged the benchmark S&P BSE Sensex lower by 731 points from record peak of 49,795 levels. The Nifty50 slipped 217 points from new peak of 14,653.
At close, the S&P BSE Sensex was at 49,492 levels, down 25 points or 0.05 per cent. Individually, M&M jumped nearly 6 per cent on the BSE today and re-entered the Rs 1-trillion m-cap club. At close, its market cap stood at Rs 1.02 trillion on the BSE.
That aside, SBI surged 4.5 per cent, ITC (2.Four per cent) and Bharti Airtel (2 per cent), to end the day as top gainers on the Sensex. Losses in Bajaj Finance (3 per cent), HDFC (2.6 per cent), Reliance Industries (1 per cent), and HDFC Bank (0.5 per cent) put strain on markets.
On NSE, the Nifty held the 14,550-mark and closed at 14,565 level, up 1.4 points or 0.1 per cent.
Sectorally, Nifty Pharma ended 1 per cent lower. On the upside, Nifty PSU index surged 3.3 per cent and ended as an outperformer for second straight day.
In the broader market, the S&P BSE MidCap ended 0.6 per cent lower at 19,087.59 whereas the S&P BSE SmallCap index slipped 0.4 per cent at 18,850.66.
Global markets
Asian stocks rose on Wednesday, tracking modest Wall Street gains, as expectations {that a} vaccine will ultimately win the battle in opposition to the coronavirus fuelled recovery hopes, whereas tight provide expectations pushed oil prices to a one-year high.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.61 per cent, whereas Japan’s Nikkei 225 ended 1.04 per cent increased. South Korea’s KOSPI gained 0.7 per cent, and Australia’s S&P/ASX 200 reversed losses and added 0.11 per cent at close. China’s Shanghai Composite, however, ended 0.27 per cent down.
In Europe, stocks have been little changed on Wednesday as a revenue warning from Danish wind farm developer Orsted hit utilities, whereas French grocer Carrefour jumped following merger talks. the pan-European STOXX 600 index rose simply 0.1 per cent, as utilities have been a drag after Orsted slumped 7.5 per cent on warning a return to more normal wind speeds this year would hit operating earnings.
The German DAX remained muted as Health Minister Jens Spahn mentioned the nation will be unable to lift all restrictions imposed to curb the spread of the coronavirus at the beginning of February.
Source:A-N