INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Extending gains for a fifth straight session, key equity indices Nifty50 and Sensex closed Wednesday's session in the positive
zone, backed by gains in IT, metal and auto stocks amid mixed Asian cues.
However, losses in bank and oil gas stocks capped the gains
The Nifty50 settled 15 points, or 0.14 per cent, up at 10,417, while Sensex closed 60 points, or 0.18 per cent, up at 33,940
Broader midcap and smallcap indices portrayed a contrasting picture.
While the BSE Midcap closed 0.19 per cent down, the BSE Smallcap index
ended Wednesday's session 0.20 per cent up.
Oil majors HPCL, BPCL and IOC cracked 7.57 per cent, 7.42 per cent and 6.41 per cent,
respectively, on Wednesday after reports said that the government has asked the oil marketing companies to absorb Re 1 per litre price
hike.
Reports that the finance ministry is soon expected to take stock from state-run lenders on fraud in cases of bad loans and the
measures taken to prevent them did not augur well for the PSU bank stocks and majority of them, including State Bank of India and Punjab
National Bank, ended the day with a fall of up to 3 per cent.
Adani Ports, State Bank of India and YES Bank remained the top Sensex losers
of the day, each falling over 2 per cent in the Sensex kitty.
Among the Sensex gainers, Tata Consultancy Services rose almost 3 per cent
IT majors HCL Technologies, Infosys and Wipro also closed the day with gains.
Sun Pharma, Hindustan Unilever and Reliance Industries climbed
up to 2.50 per cent in the Sensex index
Metal stocks including Vedanta, NALCO and Hindalco saw traction on the back of rising global aluminium prices after the US imposed sanction
In the global arena, European shares were a little down, while Asia was showing a mixed picture
Hang Seng rose 0.55 per cent while Nikkei 225 declined 0.49 per cent on Wednesday.
