Continuing the winning streak for the third consecutive session, Sensex and Nifty closed on a higher note on Wednesday on the back of positive global cues and short-covering ahead of November derivatives expiry. Trading with appreciable gains throughout the day, The BSE Sensex closed Wednesday’s trade 203.81 points or 0.57% higher at 35,716.95 points. The NSE Nifty 50 gained 43.25 points or 0.40% to end at 10,728.85 points. Yes Bank was the top loser, cracking nearly 12%
Today’s surge in the stock markets was led by IT stocks, with TCS and Infosys rising up to 5%. Among other gainers were IndusInd Bank, RIL, PowerGrid, HDFC Bank, HDFC, ICICI Bank, Hero MotoCorp and Tata Steel, advancing up to 2%. Yes Bank, on the other hand, was the biggest loser on both the bourses, cracking nearly 12%, after Moody’s Investors Service downgraded its ratings to non-investment grade and changed the bank’s outlook to negative from stable on the back of various resignations from the board. Other losers included Bharti Airtel, Tata Motors, ONGC, L&T, SBI, Coal India and Sun Pharma, falling up to 4%.
Hopes for a thaw in U.S.-China trade relations at the upcoming G20 summit helped world shares inch to a one-week high on Wednesday, though fears of a no-deal outcome weighed on European bourses and kept the dollar firm for the fourth day in a row, said a Reuters report. MSCI’s index of Asian shares outside Japan gained 0.7%. But the mood fizzled somewhat into the European session, with the pan-European index giving up opening gains to trade flat and Germany’s export-heavy bourse slipping 0.2%.