Market ends in green after hitting all time high

Indian equity benchmarks fell from intra-day high but managed to close the session in green terrain on Thursday, on the back of a firm trend, seen in other Asian markets. 

The markets made a gap-up opening and traded jubilantly, as traders took encouragement with the Economist Intelligence Unit’s report, stating that India and China are projected to see an accelerated economic growth in the fourth quarter of this year, bucking trends in the US and the European Union. In the third quarter, India's real GDP growth is estimated to be 1% on a quarter-on-quarter basis and is projected to rise to 2.20% in the fourth quarter.

Traders also found some support in the statement of Piyush Goyal, the Commerce and Industry minister, that India would enter into any free-trade agreement (FTA) or comprehensive partnership agreement on its terms and would do what would be the best for the people and in the national interest.

The BSE Sensex ended at 40,129.05, up by 77.18 points or 0.19%, after hitting all time high of 40,392.22. The broader indices ended in green as the BSE Mid cap index rose 1.08% while Small cap index was up by 0.93%.

The top gaining sectoral indices on the BSE were PSU up by 2.02%, TECK up by 2.00%, Telecom up by 1.95%, IT up by 1.77%, and, Realty up by 1.24%. On the other hand, Metal down by 0.61%, Energy down by 0.44%, and Capital Goods down by 0.31% were the few losing indices on BSE.

On the Sensex, the top gainers were Yes Bank up by 24.03%, SBI up by 7.69%, Infosys up by 3.79%, Tata Motors up by 3.40%, and Bharti Airtel up by 1.63%. On the flip side, the top decliners were Tech Mahindra down by 2.09%, Tata Steel down by 1.95%, Mahindra & Mahindra down by 1.77%, ICICI Bank down by 1.74% and Axis Bank down by 1.56%.