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STOCK MARKET

Sensex Jumps 147 Points, Nifty Tops Above 17,500 for Fourth Day

Picture Source: Internet

Indian stocks closed higher for a fourth straight day on October 19, with the Sensex closing 146.59 points or 0.25%, to 59,107.19 and the Nifty up 25.30 points, or 0.14%, to 17,512.30.


Amid a mixed global market, Indian markets got off to a good start, extending gains as the session progressed, but profit-taking in the second half of the year erased intraday gains.


Vinod Nair, head of research at Geojit Financial Services, said: “European markets interrupted the victory after the UK’s 40-year high CPI. However, a strong US market is helping the domestic market maintain a positive trend amid healthy corporate earnings releases.”


He added that lower oil prices due to rising US supplies and a slowing global economy are improving sentiment in India.


HDFC, Nestlé India, ITC, Reliance Industries and Axis Bank were the biggest winners for Nifty. NTPC, JSW Steel, SBI, Bajaj Finserv and Coal India were the biggest losers.


Among sectors, the PSU Banking, Metals and Information Technology indices were down 0.5-1%. FMCG and infrastructure closed in the green.


The BSE midcap and small-cap indexes were flat. In BSE, information technology, metals and electricity fell 0.8-1.4%, while FMCG and real estate stocks saw some buying.


India’s Container Corporation, Syngene International and TVS Motor Company delivered long-term growth, while Aarti Industries, L&T Technology Services and Astral delivered short-term growth.


Among individual stocks, Grasim Industries, PI Industries and Torrent Power surged more than 300% in volume.
Stocks such as Campus Activewear, IDFC First Bank, Polycab India, Federal Bank, Coal India, Westlife Development and ITD Cementation India hit new 52-week highs on the BSE.

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