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IT, finance stocks push mkts into green

IT, finance stocks push mkts into green
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Equity indices found firmer ground on Wednesday, led by IT, finance and auto stocks, as investors tracked corporate results amid mixed cues from...

Mumbai: Equity indices found firmer ground on Wednesday, led by IT, finance and auto stocks, as investors tracked corporate results amid mixed cues from global markets.

After swinging over 330 points in a choppy session, the 30-share BSE Sensex ended 94.99 points, or 0.24 per cent, higher at 39,058.83. It hit an intra-day high of 39,196.67 and a low of 38,866.08. The broader NSE Nifty too advanced 15.75 points, or 0.14 per cent, to settle at 11,604.10.

"Markets largely remained positive throughout the day led by selective buying in large caps namely in banking and IT stocks. Auto and consumer stocks witnessed some resurgence on expectation that the worst-case scenario is factored in the stock prices," said Vinod Nair, Head of Research, Geojit Financial Services.

Sectorally, BSE auto, IT, consumer durables, power, FMCG, teck and finance indices rose up to 1.18 per cent. On the other hand, BSE telecom, oil and gas, energy, realty, industrials, capital goods and metal indices tumbled up to 3.04 per cent.

Broader BSE midcap index ended marginally lower, while BSE smallcap index advanced 0.25 per cent. Global equities were cautious after British Prime Minister Boris Johnson lost the crucial Brexit bill timetable vote on Tuesday, leaving in doubt his vow to exit the European Union by the end of the month.

Meanwhile, the Indian rupee appreciated marginally to 70.92 against the US dollar intra-day. Brent crude futures, the global oil benchmark, fell 0.85 per cent to $59.19 per barrel.

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