Mumbai: Key equity benchmarks consolidated on Thursday and managed to end in green after touching fresh multi-year highs in trade. Shares of banks, realty, auto, pharma and capital goods continued to see buying in trade and closed with smart gains.
The Sensex closed at 20247.33, up 34.37 points or 0.17 per cent and the Nifty ended at 6169.90 up 23.15 points or 0.38 per cent. About 1183 shares advanced, 1270 shares declined, and 151 shares were unchanged.
Interest rate sensitives continue to outperform and extended their rally on Tuesday on hopes of rate cut by the Reserve Bank of India. Midcap stocks were star performers of the day. Apollo Hospitals, Jaypee Infra, IRB Infra, Anant Raj Industries, Bajaj Finance, Nectar LifeSciences, JM Financial, Nilkamal, Tecpro Systems and Everest Kanto were some of the biggest gainers in the broader markets.
Reliance Capital's quarterly earnings missed street expectations. The company's consolidated net profit fell by more than 20 percent to Rs 265 crore compared to Rs 329 crore a year ago. The bottomline numbers would look more dismal if one removes a tax reversal of Rs 85 crore.
Bajaj Auto numbers were in-line with estimates. Bajaj Auto's fourth quarter net profit slipped lower-than-expected 1 per cent year-on-year to Rs 766 crore, amid sluggish demand for two-wheelers.
Shares of Apollo Hospitals, Oil India, Wockhardt and GlaxoSmithKline Consumer Healthcare firmed up on news that they would be included in the (Morgan Stanley Capital International) India index from next month.
In commodities, gold dropped to its weakest level in almost a month on Thursday, hurt by a firmer dollar and as holdings in exchange-traded funds fell to the lowest in over four years, potentially stretching bullion's losing streak to a sixth day.
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