Business News | Sensex Rises 130 Points, Nifty Closes Above 24,050 Led by Banking, Oil & Gas Stocks
Get latest articles and stories on Business at LatestLY. The Indian stock market lost early gains and ended marginally higher on Wednessday led by banking, oil & gas and consumer durable stocks, with Sensex inching over 130 points and Nifty over 24,050 level amid mixed global cues.
Mumbai (Maharashtra) [India] July 15 (ANI): The Indian stock market lost early gains and ended marginally higher on Wednessday led by banking, oil & gas and consumer durable stocks, with Sensex rising over 130 points and Nifty closing above 24,050 level amid mixed global cues.
Nifty closed higher at 24,078.50, up 26.45 points or 0.11 per cent, while Sensex ended at 77,185.43, up 130.49 points or 0.17 per cent.
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Sectorally, Nifty Cement emerged as a top gainer, inching over a per cent while most of the sectors traded in the green. Among losers, Nifty Metal was the top drag, sliding 1.11 per cent. Broad market indices traded in the positive zone.
On BSE, UltraTech Cement, Eternal, SBI, IndiGo, Asian Paints, HDFC Bank, Maruti, Sun Pharma, Adani Ports, Reliance, ITC, BEL, ICICI Bank, among others, were the top gainers. Meanwhile, Power Grid, Tata Steel, LT, Kotak Bank, TCS, Hindustan Unilever among others were the top drags.
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Brent crude was trading at USD 85.30 per barrel, while the US West Texas Intermediate crude oil was trading at USD 80.05 per barrel at the time of reporting. At the same time, the yellow metal was trading at USD 4,027.69 per ounce. Gold prices eased on Wednesday after surging more than 2 per cent in the previous session, as higher oil prices stoked inflation concerns and clouded the outlook for U.S. interest rates, reducing the appeal of non-yielding bullion.
Spot gold fell 0.6 per cent to USD 4,028.13 an ounce by 0614 GMT, while U.S. gold futures for August delivery declined 0.9 per cent to USD 4,033.90.
Market analyst Vipin Dixena noted, "Banking, oil & gas and consumer durable stocks helped the Nifty to recover from intraday low and close in the positive."
"Nifty closed nearly flat to mildly positive/negative around the 24,000 zone today, as the index remained range-bound and faced resistance near the 24,130-24,150 band. The index is trading below the 50-day EMA, while RSI suggest momentum is still weak, keeping the near-term trend cautious," Dixena said. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)