Sensex, Nifty stage last-hour recovery; Bharti Airtel, HDFC, YES Bank top gainers
The Sensex and Nifty staged a comeback in last hour to close in the green on the first trading day of this year. While the Sensex closed 186 points higher at 36,254, Nifty ended 47 points in the green at 10,910.
Earlier in the day, the Sensex rose 93 points to 36,161, Nifty gained 19 point to 10,881. Later, the benchmark indices quickly slipped into the red.
Bharti Airtel (2.76%), HDFC (2.01%) and YES Bank (1.38%) were the top Sensex gainers.
Top Sensex losers were M&M (3.75%), Tata Steel (1.21%) and ONGC (0.83%). Top sectoral gainers were banking stocks with the BSE bankex rising 238 points to 30,615.
The BSE consumer durables index also gained 90 pts to 20,785. Bank Nifty rose 232 points to 27,392.
The Mahindra and Mahindra (M&M) stock closed 3.75% lower to 773.60 level today after the firm reported a fall in December sales in domestic market. Domestic sales slumped to 36,690 units in December compared to 36,979 units in the same month last year.
The Maruti Suzuki India stock managed to recover lost ground and ended 0.21% higher at 7477.60 on the BSE after the country's largest carmaker reported a 1.3% decline in December sales at 1,28,338 units compared to 1,30,066 units in December last year.
The UCO Bank stock closed 12.10% higher today after the state owned lender said it has received Rs 3,074 crore in the equity by way of preferential allotment on Monday. The stock rose up to 15.56% higher to 23.40 intra day compared to the previous close of 20.25 level on the BSE.
Meanwhile, the BSE mid cap and small cap indices closed 12 points lower and 60 points higher in trade today. Market breadth was positive with 1445 stocks closing higher compared to 1105 falling on the BSE.
Wall Street closed out a dismal, turbulent year for stocks on a bright note Monday, but still finished 2018 with the worst showing in a decade.
On Monday, the S&P 500 index rose 21.11 points, or 0.9 percent, to 2,506.85. The Dow gained 265.06 points, or 1.2 percent, to 23,327.46. The Nasdaq added 50.76 points, or 0.8 percent, to 6,635.28. The Russell 2000 index of smaller-company stocks picked up 10.64 points, or 0.8 percent, to 1,348.56. It finished 12.2 percent lower for the year.
All financial markets in Asia are closed on Tuesday for a public holiday.
Edited by Aseem Thapliyal