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MARKET WRAP: Sensex snaps 2-day losing streak, ends 181 pts up; PSBs rally

SI Reporter/New Delhi 04 Jan 19 | 08:10 AM

The domestic equity indices snapped out of a two-session losing streak to settle 0.5 per cent higher on Friday led by a rise in public sector banks and metal stocks.

The S&P BSE Sensex ended at 35,695, up 181 points or 0.51 per cent, while the broader Nifty50 index settled at 10,727, up 55 points or 0.52 per cent. On a weekly basis, the S&P BSE Sensex fell 1.05 per cent, while the Nifty 50 declined 1.22 per cent.

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In the broader market, the S&P BSE MidCap index rose 0.48 per cent or 72 points to end the day at 15,148, while the S&P BSE SmallCap settled at 14,592, up 0.14 per cent or 20 points on Friday.

Among sectors, the Nifty PSU Bank rose the most on Friday, gaining 2.32 per cent led by Syndicate Bank, Punjab National Bank (PNB) and State Bank of India (SBI). Nifty Metal too, rose 1.40 per cent led by Jindal Steel & Power, Vedanta and Tata Steel.

Buzzing Stocks

Shares of Page Industries ended lower for the fourth straight day on Friday. The stock slipped as much as 4 per cent to Rs 22,550 in the intra-day deals, hitting a nine-month low on the BSE. The stock eventually closed 3.88 per cent lower at Rs 22,676.

Shares of Ashok Leyland plunged to their 18-month low of Rs 95.95 apiece, dipping 2 per cent on the BSE in intra-day, and extending their 4 per cent fall in the past two days after recording weak December sales numbers. The stock of commercial vehicles (CV) manufacturer traded at its lowest level since July 3, 2017. It eventually ended the day at Rs 96.80, down 1.33 per cent.

Rupee

The rupee traded on a firm note having risen to 69.75 against the US dollar in intra-day trade. The domestic unit had settled at 70.17 against the greenback on Thursday.

Global Markets

Asian shares found a crumb of comfort on Friday as Beijing announced a new round of trade talks with Washington, though recession fears still had markets betting the next move in U.S. interest rates might be down.

MSCI’s index of Asia-Pacific shares outside Japan edged up 0.4 per cent but was still down 1.8 percent at the end of another rough week.

(with Reuters input)

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Sensex

Company Price Gain (%)
Bajaj Fin.2,926.052.32
Power Grid Corpn196.752.29
Axis Bank751.952.21
Reliance Inds.1,347.601.89
Tata Steel524.651.77

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