Sensex and Nifty erase intraday gains, but end in the green

The Indian benchmark indices S&P BSE Sensex and NSE Nifty 50 ended flat but marginally higher. Sensex gained for the third straight day, and Nifty ended the day 0.05% or 5.80 points higher. The indices were supported by the auto and banking sectors, which pushed the markets in the green. Banking and finance stocks witnessed heavy buying, with shares of LIC Housing Finance surging.

The BSE Sensex closed the day at 38,843.88 points amid volatility. The Sensex was up 44.80 points or 0.12%. Out of the 30 stocks that make up the BSE Sensex, 15 ended the day in positive territory. Bajaj Finance emerged as the frontrunner with gains of 4.39%. 

SBI followed it, and so did Tech Mahindra, Asian Paints and Bajaj Finserv, whose share prices rose by 3.28%, 2.21%, 1.92% and 1.62% respectively. NTPC and Sun Pharma were the top losers as their share prices fell by 1.61% and 1.55% respectively. 

Also Read: Closing Bells: Financial Stocks Power Sensex Close Monday Higher

The Nifty Realty Index ended in the red shedding over 2%, with real estate shares falling. On the positive side, banking and financials performed well, helping the index inch higher. The broader markets outperformed the benchmarks. Nifty Midcap100 and Nifty Smallcap100 closed at 0.34% and 0.54% respectively. 

Nifty PSU Bank index was the best performer of the day. The rupee ended flat at 74.32 against the US dollar. On the negative side,12 out of the 19 sector gauges compiled by the BSE, ended lower. The FMCG, energy, power and metal shares witnessed heavy selling. 

The NSE Nifty 50 closed marginally higher at 11,472.30 points. Tata Motors zoomed 5.32% followed by Bajaj Finance, SBI, Tech Mahindra and Eicher Motors. The notable losers were GAIL, NTPC and Sun Pharma. India VIX, the volatility gauge, rose by 0.44% or 0.08 points to close at 19.315 points. 

Most of the Asian stock markets ended in the green. Progress in US-China trade talks coupled with the hopes of a coronavirus treatment, induced positive sentiment among global investors.  

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