Mumbai, Aug 21: Stock markets extended the winning run to the sixth consecutive day on Thursday, with benchmark Sensex closing higher by nearly 143 points on buying in blue-chip shares ICICI Bank and Reliance Industries.
The 30-share BSE Sensex climbed 142.87 points or 0.17 per cent to settle at 82,000.71 in a restricted trade. During the day, it rallied 373.33 points or 0.45 per cent to 82,231.17. As many as 14 Sensex shares closed higher, while 16 ended with losses.
The 50-share NSE Nifty rose by 33.20 points or 0.13 per cent to 25,083.75.
Among Sensex firms, Bajaj Finserv, ICICI Bank, Reliance Industries, Bajaj Finance, Larsen & Toubro and Bharat Electronics were the major gainers. However, Power Grid, Eternal, Hindustan Unilever and Adani Ports were among the laggards.
Gains in pharma, realty, and financials shares supported the rally while profit-taking in FMCG, energy, and auto shares capped gains.
Market experts stated that the proposed GST reforms and a recent credit rating upgrade have bolstered investors’ confidence. A Group of Ministers on GST rate rationalisation has accepted the Centre’s proposal to move to a two-slab structure of 5 per cent and 18 per cent. The GST Council is likely to take a final call on the proposal next month. Goods and Services Tax is a 4-tier structure of 5, 12, 18 and 28 per cent.
“Markets traded lacklustre on the weekly expiry day and ended largely unchanged amid mixed cues. After a flat start, the Nifty moved in a narrow range throughout the session,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
Investors also turned their attention towards US Federal Reserve Chair Jerome Powell’s forthcoming statements at the Jackson Hole Symposium.
The BSE smallcap gauge ended flat, ending marginally higher by 0.01 per cent. The midcap index dipped 0.12 per cent.
Among BSE sectoral indices, healthcare climbed 0.61 per cent, realty (0.46 per cent), industrials (0.25 per cent), oil & gas (0.19 per cent) and financial services (0.17 per cent).(PTI)
