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Sensex ends higher at 39,839.25 pts amidst subdued buying ahead of Union Budget
Economy

Sensex ends higher at 39,839.25 pts amidst subdued buying ahead of Union Budget

Agency News

Mumbai, Ju1 3: Extending the winning streak for the third straight session on Wednesday, the BSE Sensex edged higher by 22.77 points to end volatile session on a firm note at 39,839.25 as wary investors resorted to cautious buying in FMCG, Bankex, Capital Goods, Oil & Gas, Power, and Realty stocks, despite weaker cues from other Asian peers, ahead of the Union Budget.

The Nifty of National Stock Exchange (NSE) too went up by 6.45 points to 11,916.05.

Investors remained cautious ahead of the Union Budget, due on Friday, as they turned wary after data showed that the country's services sector activity in June contracted for the first time since May 2018, brokers informed.

The Sensex swung wildly in the range of 39,934.99 and 39.839.25 points, respectively, during the day.

Similarly, the Nifty touched day's high and low at 11,945.20 and 11,887.05 points, respectively.

The broader markets outperformed the Sensex, as the BSE Mid-Cap index and Small-Cap climbed by 0.11 per cent and 0.20 pc, respectively.

The market breadth was positive on BSE, as 1,314 shares gained while 1,165 declined and 171 were unchanged.

Overseas, equity markets turned jittery amid fears of an economic slowdown on weakening global manufacturing growth.

MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan's Nikkei shed 0.4 pc in early trade.

The US stocks managed modest gains on Tuesday after holding near the unchanged mark for much of the session, with the S&P 500 gaining 0.29 pc to a record close of 2,972.98, with dividend-oriented utilities and real estate stocks leading the gains.

The bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a negative note, while equity markets in Europe were trading in the green in their respective early sessions. (UNI)