Stock market update! Sensex rises 98 pts, Nifty holds 15,300

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New Delhi: Equity benchmark Sensex advanced 98 points after a choppy session on Thursday as monthly derivatives expired amid a largely weak trend in global markets.

The 30-share BSE index ended 97.70 points or 0.19 per cent higher at 51,115.22, and the broader NSE Nifty rose 36.40 points or 0.24 per cent to 15,337.85.

SBI was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement and PowerGrid.
On the other hand, HDFC, Bajaj Finance, ONGC and Bharti Airtel were among the laggards.

“Domestic equities remained resilient and traded in a range amid futures and options (F&O) expiry led volatility,” said Binod Modi, Head-Strategy at Reliance Securities.
IT stocks remained in focus for the second consecutive day as sustained visibility of earnings momentum attracted investors’ interest back to this space. Further, banks, metals and auto also were in focus.

“Notably, short coverings also have supported momentum in various counters. Buying momentum remained visible in midcap and smallcap stocks and they have outperformed benchmark indices,” he added.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo closed in the negative terrain, while Shanghai finished with gains.

Stock exchanges in Europe were largely trading in the red in mid-session deals. Meanwhile, international oil benchmark Brent crude was trading 0.77 per cent lower at USD 68.20 per barrel.





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