Sensex ends higher on 3rd day at 39,215.64 pts on sustained buying

Sensex ends higher on 3rd day at 39,215.64 pts on sustained buying

Agency News

Mumbai, Jul 17: Extending gains for the third straight session on Wednesday, the BSE Sensex rallied by 84.60 points to end positive at 39,215.64 on the back of gains in banking and IT stocks despite subdued cues from global peers.

The Nifty of National Stock Exchange (NSE) too went up by 24.90 points to 11,687.50.

The Sensex opened high at 39,171.10 in the morning trade and then swung in the range of to 39,284.73, day high 39,215.64 and 39,081during the day before closing firm at 39,215.64 against its last close.

The gains in sectoral indices like FMCG, IT, Blbankex, metal and technology supported the market for the third day today, along with scrips of Tech Mahindra, SBI, Kotak Bank and IndusInd Bank.

While, the sell-off in Yes Bank, ONGC, Maruti Suzuki and Bajaj Auto capped the market's further gains, brokers informed.

The broader markets ended mixed, as the S&P BSE Mid-Cap index fell 0.15 per cent while the Small-Cap went up by 0.07 pc.

The market breadth was negative on BSE, as 1,125 shares gained while 1,356 fell and 169 were unchanged.

Overseas, the European scrips were trading mixed while Asian stocks ended lower on comments of US President Donald Trump that reignited fears of trade war.

US stocks closed lower on Tuesday after President Trump said an agreement with China on trade tariffs had a long way to go, adding that America could place tariffs on an additional USD 325 billion worth of Chinese goods.

The sectoral indices led by FMCG, IT, bankex, metal and technology gained by up to 0.86 per cent.

While, power, oil and gas, consumer durables, auto and utilities slipped by up to 1.01 pc..

Most IT shares led by Tech Mahindra, HCL Tech, Infosys, TCS and MindTree advanced, rising by up to 2.16 pc.

Whereas, Oracle Financial Services Software, Hexaware Tech, MphasiS and Persistent Systems fell, dropping by up to 0.86 pc.

InterGlobe Aviation gained 1.63 pc on a news report that the ministry of corporate affairs (MCA) has asked InterGlobe Aviation to respond to all charges of corporate mis-governance raised by Rakesh Gangwal, the company's promoter. The ministry is also scrutinising the shareholder agreement between the two promoters, Rakesh Gangwal and Rahul Bhatia, verifying the agreement's compliance with the Companies Act. (UNI)