Closing Bell: Indian indices end higher in a choppy trading session
Domestic equity benchmarks snapped the three-day losing streak on Tuesday to finish in green led by strong buying in banking and metal shares.
Indian market snapped the three-day losing streak and ended higher in a volatile trading session ahead of RBI policy outcome later this week. During today's trade, both the indexes swung between gains and losses before settling in the positive zone.
At the closing bell on February 8, the Sensex was up 187.39 points or 0.33% at 57,808.58, and the Nifty was up 53.20 points or 0.31% at 17,266.80. On the market breadth, around 1062 shares have advanced, 2180 shares declined, and 83 shares are unchanged.
Top Nifty gainers today were Tata Steel, Bajaj Finance, Divis Labs, Reliance Industries and Bajaj Finserv. Top losers included ONGC, Power Grid Corporation, IOC, SBI Life Insurance and Tata Consumer Products. Among the top buzzing stock, Tata Steel was the top Nifty surging 3.09% to Rs 1,219.50.
On a sectoral basis, except auto, metal, pharma and PSU bank all other sectoral indices ended in the red. In the broader market, the BSE smallcap and midcap indices lost 0.45-1.4%.
In news today was Adani Wilmar which gained as much as 15.30% to Rs 265.20 in its market debut, valuing the firm at Rs 34,467 crore. Also, the IPO of Vedant Fashions which owns brands such as Manyavar and Mohey received bids for 6.1 crore shares as against the 2.5 crore shares on offer, which is a subscription of 2.4 times.
Market participants are also looking forward to the RBI meeting, where the Reserve Bank of India is expected to hold its repo rate steady and increase its reverse repo at the end of a three-day meeting on Thursday.
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