Indian markets recovered from day’s low to end higher today amid worries over the US economy and negative global cues. The indices were led by ITC, Airtel, and Kotak Mahindra Bank. Sensex rose 99 points and settled above 61,800 level while Nifty surged 36 points and ended above 18,300 level.
Today’s gainers and losers
Bharti Airtel, ITC, and Kotak Bank were the top gainers, rising 1-3%. L&T, Power Grid, Bajaj Finance, Infosys and Nestle also closed with gains. On the other hand, Wipro, IndusInd Bank, Tata Motors, Sun Pharma, HDFC, and HUL closed with cuts.
Stocks in news today
PTC Industries ended nearly 6% higher after its subsidiary, Aerolloy Technologies, was approved by Israel Aerospace Industries for the supply of cast components. Shares of Trident ended over 6% lower after its Q4 profit declined 28%.
Sectorally, Nifty Realty, Nifty FMCG, Nifty Auto and Nifty Consumer Durables closed higher. In the broader market, Nifty Midcap100 gained 0.38%, and Smallcap100 rose 0.09%.
Global Markets
Shares were mostly lower in Asia as worries about the US economy and a possible default on US government debt pulled Wall Street lower. Japan’s benchmark Nikkei 225 index advanced 0.4% – Hong Kong’s Hang Seng sank 2% . The Shanghai Composite Index also fell, by 0.5%.
Crude prices
Oil prices fell today after Russian Deputy PM Alexander Novak played down the prospect of further OPEC+ production cuts at its meeting next week. Brent crude futures were down 1.23%, to $77.39 a barrel. US West Texas Intermediate crude (WTI) fell 1.43%, to $73.28.
That’s all for today, stay tuned to ETMarkets for more.
