Sensex retreats from record on late sell-off, ends in green

Paterniano Del Favero
Giugno 23, 2017

The BSE Sensex finally closed up 7.10 points at 31,290.74 and the NSE Nifty was down 3.60 points at 9,630.

Asian cues remained mixed.

Benchmark equity indices BSE Sensex and NSE Nifty are showing signs of recovery on the back of slew of steps by regulator Sebi to make markets more attractive for investments. Realty, metal, power and auto rose up to 1.09%, staying in the positive zone.

The Nifty fell by 19.90 points, or 0.21 per cent, to 9,633.60 points, while the Sensex closed at 31,283.64 points - down 13.89 points, or 0.04 per cent. It had lost 27.93 points in the previous two sessions. It also relaxed open offer rules for investors buying distressed companies from banks to tackle mounting debt.

U.S. stocks closed mostly lower on Wednesday as oil prices failed to rebound from a sharp fall during the previous session.

On the other hand, the S&P BSE banking index was up by 42.31 points, the finance index by 8.01 points and the telecom index by 0.20 points.

Foreign funds sold shares net Rs 152.82 crore yesterday and DIIs sold 41.39 crore, as per the provisional figures.

Some of the key stocks that gained were Sun Pharma, Ambuja Cements, SBI, HDFC, Reliance, Yes Bank and Bajaj Auto while ONGC, HUL, Lupin Dr Reddys Labs, Hindalco, GAIL and Coal India declined.

Auto stocks also climbed, with the Nifty Auto index up much as 0.9 per cent, its biggest intraday percentage gain in almost two weeks.

Overseas, European stocks edged lower as investors reacted to falling oil prices and ongoing weakness in commodities-related sectors. The stock hit a low of Rs 149.25 so far during the day. Japan's Nikkei was up 0.13 per cent, Shanghai Composite added 0.76 per cent while Shanghai Composite advanced 0.76 per cent as of 9.35 am.

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