Equity indices erase early gains, metals outshine

Equity benchmark indices wiped out early gains but closed in the green on Thursday with metal stocks witnessing handsome gains.The BSE S&P Sensex closed 84 points or 0.17 per cent higher at 49,746 while the Nifty 50 ticked up by 55 points or 0.37 per cent to 14,874.

Sectoral indices at the National Stock Exchange were mixed with Nifty metal up by 3.9 per cent, IT by 1.2 per cent and realty by 0.8 per cent.

Among stocks, JSW Steel was the top gainer by moving up 9.6 per cent to Rs 616.20 per share. Tata Steel was up by 5.4 per cent to Rs 992 and Hindalco by 4 per cent to Rs 366.55.

The other prominent winners were Titan, Tata Motors, UltraTech Cement, Tech Mahindra, Britania and Nestle India.

However, those which lost were IndusInd Bank, HDFC Bank, Axis Bank, ONGC, Bajaj Auto, SBI Life, and Sun Pharma.

Meanwhile, Asian share markets lagged as US stock futures nudged to another record high after the Federal Reserve underlined its commitment to keeping policy super loose.

MSCI’s broadest index of Asia Pacific shares outside Japan was flat. Japan’s Nikkei eased by 0.07 per cent. But Hong Kong’s Hang Seng index crawled up by 1.16 per cent.

Leave a Reply