Stock market extends winning steak; PSU bank at new high
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
Snapping two-session losing streak amid positive global cues and better than expected Q3 GDP numbers, Indian equity markets started Wednesday’s trading session in the positive zone. At 9.50 am, the Sensex at the BSE was trading 231 points up at 28,975 and the Nifty at the NSE was trading 61 points higher at 8,940.
In the broader markets, BSE Midcap and Smallcap indices jumped 0.4 per cent and 0.7 per cent respectively.
Gross Domestic Product (GDP) growth for the quarter ended December 31, 2016 contracted to 7 per cent, Central Statistics Office (CSO) said on Tuesday.
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The third quarter number GDP numbers are an important indicator of how the economy reacted after demonetisation. In the quarter ended December 31, 2015 the GDP growth was 7.2 per cent.
Among the BSE sectoral indices, Realty index jumped the most, up 1.3 per cent, while Oil & Gas index became the top loser, down 0.3 per cent.
On Tuesday, the Sensex had closed 70 points down at 28,743 and the Nifty had closed 17 points lower at 8,880.
Top gainers in the Sensex-30 pack: Axis Bank (up 2.8 per cent), HDFC (up 1.7 per cent), Hero Motocorp (up 1.5 per cent), TCS (up 1.3 per cent) and Sun Pharma (up 1.2 per cent).
Top losers in the Sensex-30 pack: Tata Motors (down 0.7 per cent), Bharti Airtel (down 0.3 per cent), NTPC (down 0.3 per cent), and M&M (down 0.1 per cent)
However, the Rupee was trading 13 paise down at 66.82 against the US Dollar.
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