Domestic equity benchmarks rose for a second straight day on Thursday, rising for a second straight session, a day after the GST Council approved a host of tax cuts aimed at boosting domestic consumption. There were mixed trends across sectors, with buying in most prominent FMCG shares, though selling pressure in IT and energy shares limited the upside.Â
The Sensex rose 150.3 points, or 0.2 per cent, to end at 80,718 while the Nifty50 added 19.3 points, or 0.1 per cent, to settle at 24,734.3. Investors grew richer by approximately Rs 1.4 lakh crore as BSE-listed companies’ market capitalisation (mcap) rose to Rs 452.76 lakh crore, according to provisional exchange data.Â
Financial stocks staged mixed moves, with the Nifty Bank ending flat, the Nifty Financial Services rising half a per cent, and the Nifty PSU Bank falling 1.1 per cent. Financial service stocks enjoy the maximum weightage of almost 38 per cent in the market benchmark.
Add Zee Business as a Preferred Source
Among index heavyweights, M&M, the Bajaj twins, Apollo Hospitals, Nestle India, Grasim Industries, Trent and ITC — rising between 1.0 per cent and 5.9 per cent for the day — were the top gainers in the Nifty50 basket.Â
On the other hand, HDFC Life, Tata Consumer Products, IndusInd Bank, Wipro and Maruti Suzuki — closing between 1.7 per cent and 2.8 per cent lower — were the worst hit among the 31 losers in the 50-blue-chip pack.
M&M, HDFC Bank and Bajaj Finance were the biggest contributors to the gains in both main indices, whereas RIL and Infosys were the biggest drags.
