Markets

Market Wrap: Indices end flat after 3-day rally; Sun Pharma gains 3%

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Benchmark indices took a breather on Thursday, after logging solid gains in the last three sessions amid mixed global peers and spurt in crude prices.


The S&P BSE closed at 37,755, up 3 points or 0.01 per cent. During the day, the index hit a high and low of 37,907.78 and 37,694, respectively. The overall market breadth remained in favour of declines as out of 2,861 companies traded on the BSE, 1,234 advanced and 1,479 declined while 148 securities remained unchanged.



The NSE’s Nifty50 index settled the day at 11,343, down nearly 2 points or 0.01 per cent.


Banking sector barometer Bank hit a record high of 29,070.35 in the intra-day trade. It settled at 28,923 levels.


In the broader market, the S&P BSE MidCap index ended at 15,088, down 40 points or 0.26 per cent, while the S&P BSE SmallCap index closed at 14,888, up 13 points.


BUZZING STOCKS


Oil-to-telecom conglomerate Reliance Industries (RIL) scaled a new high of Rs 1,361.45 apiece on BSE, in the intraday trade, before ending at Rs 1341, down 0.41 per cent.


Muthoot Finance, too, continued their upward journey, hitting new high of Rs 612, up 3.3 per cent in the intra-day trade on expectation of healthy growth going forward. At close, the stock price stood at Rs 596, up 0.74 per cent.


Shares of IndusInd Bank hit a five-month high of Rs 1,685, up 3 per cent on the BSE, in the intra-day trade. In the process, the lender’s valuation regained the Rs 1 trillion-mark. The stock, eventually, ended at Rs 1,683 apiece, up 3 per cent.


SECTOR WATCH


Realty stocks gained the most, followed by pharma and metal stocks. The Realty index ended over 2 per cent higher at 251 levels, with 5 out of 10 components advancing and rest 5 ending in the green.


GLOBAL MARKETS


Asian shares stumbled on Thursday after Chinese data signaled further weakness in the world’s second-biggest economy while the pound eased off nine-month highs ahead of another Brexit vote. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent after treading water for most part of the day. Japan’s Nikkei gave up early gains to end nearly flat.


prices rose, with Brent crude hitting its highest since November 2018 amid OPEC-led supply cuts and US sanctions on Venezuela and Iran, while Chinese demand remained strong despite an economic slowdown.



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