The BSE benchmark Sensex on Wednesday snapped its five-session losing streak and rose for the first time this year by over 36 points, led by CIL and value buying in healthcare, PSUs, auto, metal and oil and gas company stocks, amid earnings optimism.
The 30-share index, which had lost nearly 485 points in five sessions, recovered by 36.14 points, or 0.17 per cent to end at 20,729.38 after moving between 20,786.41 and 20,688.18.
Similarly, the 50-share NSE index Nifty also moved up by 12.35 points, or 0.20 per cent, to 6,174.60 after touching the day’s high of 6,192.10. Also, SX40 index, the flagship index of MCX-SX, closed 37.24 points higher at 12,375.42.
ADVERTISEMENT
Stocks of state-owned Coal India led the recovery by surging 4.77 per cent to Rs 288.75 on reports that company has scheduled a board meeting next week to consider payment of an interim dividend, if any.
Other prominent gainers were Cipla, Dr Reddy, Sun Pharma, GAIL India, Bajaj Auto and Reliance Industries.
Brokers said the trading sentiment turned better after investors bought fundamentally strong stocks available at attractive lower levels amid hopes of encouraging quarterly earnings from blue-chip companies.
ADVERTISEMENT
Besides, a firming trend on the other Asian bourses following overnight gains on the US markets on strong trade data, indicating economy is getting back on track, too influenced the trading sentiment, they said.
Sectorally, the Healthcare index gained the most by rising 1.04 per cent, followed by PSU, which gained 0.82 per cent.
Auto Index rose 0.71 per cent and metal index ended 0.43 per cent higher.
Among exporters stocks, Tata Consultancy Services shot up by 1.12 per cent to Rs 2,233 on earnings optimism.
However capital goods sector was the worst performer as it lost 1.35 per cent, while consumer durables fell by 0.58 per cent.