Tue, 29 Sep 2020

Mumbai (Maharashtra) [India], Jan 23 (ANI): Equity benchmark indices closed in the positive zone on Thursday led by strong gains in banking and realty stocks.

Several investors hoped the upcoming Union Budget will have policy and fiscal measures to get the economic momentum back on track.

The BSE SP Sensex closed 271 points or 0.6 per cent higher at 41,386 while the Nifty 50 was up by 73 points at 12,180. All sectoral indices at the National Stock Exchange were in the green except for Nifty media which dipped by over 2 per cent.

Among stocks, Yes Bank spurted by 6.63 per cent to Rs 41 per share after State Bank of India (SBI) Chairman Rajnish Kumar said private sector lender will not be allowed to fail, and that some solution will emerge to straighten its financial condition.

IndianOil Corporation advanced by 5.8 per cent at Rs 120.30 apiece while GAIL moved up by 2.8 per cent, Larsen and Toubro (LT) by 2.8 per cent and Bharat Petroleum Corporation by 2.7 per cent.

The other prominent gainers were MahindraMahindra, State Bank of India, Titan, Bharti Airtel and Grasim.

However, Zee Entertainment tumbled by 7.2 per cent to Rs 278.70 per share while UPL dropped by nearly 4 per cent following reports of raids by the Income Tax Department at its premises.

Cipla, Dr Reddy's, Power Grid Corporation, Tech Mahindra, Tata Consultancy Services and Eicher Motors too closed in the red.

Meanwhile, Asian shares fell as investors remained anxious about the spread of a new flu-like virus in China just as millions prepared to travel for the Lunar New Year. Deaths in China from the new coronavirus rose to 17 on Wednesday with nearly 600 cases confirmed.

The Shanghai Composite index slumped by 2.75 per cent while Japan's Nikkei stock index slid by 0.98 per cent, Hong Kong's Hang Seng by 1.52 per cent and South Korea's Kospi by 0.93 per cent. (ANI)

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