Despite negative start, market ends on positive note

Oscillating between positive and negative terrain, key equity benchmarks witnessed a relief rally in the last hour of trade, which helped in closing the session near intraday high levels on Wednesday. Markets rebounded from previous day fall, with the Sensex and the Nifty, closing at 40,850.29 and 12,037.30 levels, respectively.

Domestic indices made negative start but soon gained traction to turn positive as traders gained some support by Economic Affairs Secretary’s statement that the global rating agency S&P has reaffirmed sovereign rating of India with a stable outlook. Some positivism also came in with a monthly survey report, which showed that Nikkei/IHS Markit Services Purchasing Managers’ Index rose to 52.7 in November from 49.2 in October, above the 50-mark, separating contraction from growth on a monthly basis.

The BSE Sensex ended at 40,850.29, up by 174.84 points or 0.43 per cent after trading in a range of 40,475.83 and 40,886.87. The broader indices ended in green; the BSE Mid cap index gained 0.52 per cent while Small cap index was up by 0.33 per cent.

There were 22 stocks advancing against 9 stocks declining on the index. The top gainers on the Sensex were Tata Motors up by 7.11 per cent, Yes Bank up by 5.97 per cent, ICICI Bank up by 4 per cent, Vedanta was up by 3.15 per cent, and Tata Steel was up by 2.42 per cent. On the other hand, the top losers included Larsen & Toubro down by 2.16 per cent, Reliance Industries down by 1.67 per cent, Asian Paints down by 0.98 per cent, Maruti Suzuki down by 0.93 per cent, and Bajaj Auto down by 0.56 per cent.