Indian shares eked out modest gains on Thursday, with metals, FMCG and IT stocks pacing the gainers. Banks came under selling pressure ahead of the RBI’s policy announcement.
The benchmark 30-share BSE Sensex rose 123.07 points, or 0.23 percent, to settle at 54,492.84 while the broader NSE Nifty index ended the session up 35.80 points, or 0.22 percent, at 16,294.60.
Both the indexes closed at record highs for the third straight session amid earnings optimism and expectations of dovish policy from the Reserve Bank of India.
Bharti Airtel rose as much as 3.9 percent in the Nifty pack, while Tata Steel, Tech Mahindra, ITC and Eicher Motors climbed 2-3 percent.
SBI led the declines to end 3.3 percent lower, while Bajaj FinServ, Bajaj Finance, ICICI Bank and IndusInd Bank dropped 1-2 percent.
Other Asian markets ended mixed as the latest private payrolls data from the U.S. disappointed and China’s state media once again took aim at the video game sector, calling for higher taxes on the gaming industry.
European stocks were flat to slightly higher in early trade as investors reacted to hawkish remarks from a top Fed official and awaited a key monetary policy update from the Bank of England for direction.
Market Analysis
Sensex, Nifty End Modestly Higher
2021-08-05 11:01:18
