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Home > Markets > Sensex, Nifty inch up to record highs; Tata Steel spurts 3 pc
Markets
Sensex, Nifty inch up to record highs; Tata Steel spurts 3 pc
By  
PTI   , Published : Dec 20, 2019, 4:48 pm IST | Updated : Dec 20, 2019, 4:48 pm IST

Settling at a record high for the fourth consecutive session, 30-share BSE Sensex closed 7.62 points higher at 41,681.54.

Gains were muted as investors turned jittery at the fag end of the session on macroeconomic concerns after Fitch Ratings cut India's GDP growth forecast for 2019-20, traders said. (Photo: File | AP)
Gains were muted as investors turned jittery at the fag end of the session on macroeconomic concerns after Fitch Ratings cut India's GDP growth forecast for 2019-20, traders said. (Photo: File | AP)

Mumbai: Market benchmarks Sensex and Nifty rose marginally to close at fresh lifetime highs on Friday, tracking gains in index heavyweights ICICI Bank, SBI and HDFC Bank.

Gains were muted as investors turned jittery at the fag end of the session on macroeconomic concerns after Fitch Ratings cut India's GDP growth forecast for 2019-20, traders said.

Settling at a record high for the fourth consecutive session, the 30-share BSE Sensex closed 7.62 points, or 0.02 per cent, higher at 41,681.54. It hit a lifetime intra-day high of 41,809.96 during the session.

Similarly, the broader NSE Nifty rose 12.10 points, or 0.09 per cent, to its new record of 12,271.80. It hit an intra-day high of 12,293.90.

Tata Steel was the top gainer in the Sensex pack, rallying 3.23 per cent, followed by SBI, Yes Bank, Hero MotoCorp, ICICI Bank and Bharti Airtel.

On the other hand, Vedanta was the biggest loser, shedding 3.45 per cent. Kotak Bank, Tata Motors, ITC, M&M and Sun Pharma too ended in the red.

According to traders, participants offloaded equities at the fag end of the session on concerns over economic growth after Fitch Ratings cut India's GDP growth forecast for 2019-20 fiscal year to 4.6 per cent on deterioration in business and consumer confidence.

Stocks traded with a positive bias during the day on hopes of Budget stimulus to spur economic growth, analysts said.

Further, persistent foreign fund inflows helped market scale fresh highs, they added.

On a net basis, foreign institutional investors bought equities worth Rs 739.43 crore, while domestic institutional investors sold shares worth Rs 493.95 crore on Thursday, data available with stock exchange showed.

Bourses in Shanghai and Tokyo ended in the red, while those Hong Kong and Seoul settled on a positive note.

Benchmark indices in Europe were trading higher in their respective early sessions.

On the currency front, the rupee depreciated 13 paise against the US dollar to 71.16 (intra-day).

Brent futures, the global oil benchmark, fell 0.14 per cent to USD 66.45 per barrel.

end-of
Tags: 
bse, nse, sensex, nifty, stock markets, share markets, trade, trading
Location: 
India, Maharashtra, Mumbai (Bombay)
Latest From Markets
After swinging over 423 points intra-day, the 30-share BSE Sensex ended down by 304.26 points, or 0.73 per cent, at 41,253.74. (Photo: File | PTI)

Sensex tanks 304 points on last day of 2019; Nifty drops below 12,200

The 30-share BSE Sensex fell 108.21 points or 0.26 per cent to 41,449.79, and the broader NSE Nifty slipped to 12,227.75. (Photo: File | AP)

Sensex drops over 100 points amid thin global trade

Besides, weakening of the American currency in overseas market supported the rupee, while steady rise in crude oil prices and weak opening in domestic equities weighed on the local unit, forex traders said.

Rupee rises 8 paise to 71.23 against US dollar in early trade

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