District Daily News

Markets continue to rise on high-end purchases; SBI and Reliance excel

<p>Amid a mixed trend in global equities, the major equity indexes Sensex and Nifty recovered from early lows to finish higher on Wednesday. This was aided by fag-end buying in energy, metal, and utility companies.</p>
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<p>The 30-share BSE Sensex closed at 71,822.83 points, up 267.64 points, or 0.37 percent, for the second consecutive day. During intraday transactions, the index fluctuated between a high of 71,938.59 points and a low of 70,809.84 points.</p>
<p>In addition, the larger NSE Nifty increased by 96.80 points, or 0.45%, to close the day at 21,840.05 points.</p>
<p>Rising 4.24 per cent, State Bank of India led the Sensex pack’s gainers, which also included Tata Steel, Axis Bank, Maruti, NTPC, PowerGrid, ITC, and Nestle India.</p>
<p>Reliance surged 1.5% to close at Rs 2,962.60 per share on the BSE. SBI’s shares ended the day at Rs 743.35 per.</p>
<p>On the other hand, the laggards were Tech Mahindra, Sun Pharma, TCS, Infosys, and HDFC Bank.</p>
<p>Asia’s Nikkei 225 index closed in negative territory, while the Hang Seng and Kospi indexes of South Korea and Hong Kong concluded in positive position.</p>
<p>The Lunar New Year holidays have shuttered China’s financial markets. In the early trades, European markets were trading well.</p>
<p>Tuesday’s overnight trading saw the US market close with hefty losses. Tuesday saw a 0.78 percent increase in Brent crude, the world’s standard oil, to USD 82.64 a barrel.</p>
<p>The Sensex increased 482.70 points, or 0.68 percent, in the previous session and ended at 71,555.19 points. To conclude at 21,743.25 points, Nifty increased by 127.20 points, or 0.59 percent.</p>
<p>According to exchange statistics, Foreign Institutional Investors (FIIs) bought shares worth Rs 376.32 crore on Tuesday, making them net purchasers in the capital markets.</p>