Key indices finish level in unpredictable session
Mumbai: Equity standards squeezed out low gains to clear up in the favorable area after turning in between gains as well as losses throughout the session on Wednesday amidst weak point in worldwide bourses. In a profession noted with low and high, the 30-share BSE Sensex climbed up 54.13 factors or 0.09 percent to clear up at 59,085.43. During the day, it struck a high of 59,170.87 as well as a reduced of 58,760.09. Similarly, the wider NSE Nifty increased by 27.45 factors or 0.16 percent to 17,604.95.
“Caution prevailed in the market ahead of monthly expiry on Thursday, while key benchmark indices eked out modest gains and shrugged off weak sentiment across most Asian and European markets. Gains were muted as investors preferred to stay on the sidelines ahead of the Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole symposium this Friday,” stated Shrikant Chouhan, Head of Equity Research (Retail),Kotak Securities Ltd
“Bulls and bears continued to battle it out in the domestic market as weak global cues persisted, keeping the market under pressure. The US economy contracted amid muted demand conditions with the service sector witnessing a sharp decline. Markets in Europe experienced a protracted sell-off as a result of investor’s concern over the oil crisis and the uncertain growth outlook,” stated Vinod Nair, Head of Research atGeojit Financial Services
In the wider market, the BSE midcap scale climbed up 0.80 percent as well as smallcap index progressed 0.73 percent.
Among the BSE sectoral indices, real estate climbed up 1.74 percent, complied with by industrials (0.92 percent), telecommunications (0.91 percent), funding items (0.80 percent) as well as financing (0.64 percent).