Sensex-Nifty Settled a bit higher; Media and Pvt-Bank Witness Buying

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Indian equity benchmark indices closed marginally higher on Wednesday in a volatile trading session. The BSE Sensex ending moderately higher at 35697.40, up by 62 points whereas the NSE Nifty closed at 10458.40, up by 7 points.

Yes Bank is the top Nifty gainer which was up 36.71 percent, followed by Zee Entertainment-up by 7.48-pc, Bharti Infratel-up by 6.61 percent, Coal India-up by 5.54-percent and HeroMotoCorp, up by 4.14 percent for the day.

Shares of Coal India gained by the above extent behind factor that the Company Board is scheduled to meet tomorrow for the prospect of declaring dividends.

Among top falling stocks, it comes Gail India which was down by 10.20 percent, followed by Tata Steel-down 7.76 percent, TataMotors-down by 7 percent, IndusInd bank down by 6.42 and Bharat Petroleum- down by 5.26 percent, as major nifty losers.

Sectoral indices were also combined for the day significant buying seen in media-up by 1.72 percent, Private Bank, and financial sectors.

On the downside, the Nifty PSU Bank dropped the most, by 3.86 percent, and thereafter the Nifty Realty-down by down 2.71 percent, Nifty Metal slipped 2.06 percent, Nifty Pharma down 1.6 3percent, Nifty IT lost 1.25 percent, and Nifty Auto fell 1.09 percent for the day.

Some stocks that had badly hit on Monday recovered sharply in their prices included names of LIC Housing Finance which added 1.60 percent to Rs.288.95-per share, PNB Housing Finance rose 2.50 percent to Rs.266.25 and L&T Finance Holdings rose 3.49 percent to Rs97.75 in today’s trading session.

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