Sensex, Nifty extend gains on positive global cues; Nifty closes above 19,200

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Equity benchmarks extended their gains for the second day in a row, tracking global markets that rejoiced US Fed’s status-quo decision.

The BSE Sensex gained 282.88 points or 0.44 per cent to 64,363.78 and NSE Nifty50 advanced 97.35 points or 0.51 per cent to 19,230.60.

Among the Nifty50 constituents, Apollo Hospitals (5.34 per cent), Adani Ports (2.67 per cent), Eicher Motors (2.63 per cent), Titan (2.36 per cent) and LTIMindtree (2.09 per cent) were the major gainers, Bajaj Finserv (2.83 per cent), SBI Life (1.30 per cent), Dr Reddy’s (1.25 per cent), IndusInd Bank (0.83 per cent) and Bajaj Finance (0.62) were the top losers.

‘Promising’ Q2

Besides the US Federal Reserve’s interest rate decision and softening crude oil prices, the Q2 results announced so far also boosted investors’ confidence, experts said.

“The ongoing Q2 results explore healthy expansion in Indian operating margin, leading to a strong bounce in earnings growth,” Vinod Nair, Head of Research at Geojit Financial Services, said.

“In the midst of the earnings season, large-cap companies indicate a solid 40 per cent growth in PAT on a year-on-year basis. And moderation in global inflation and steady domestic and external demand is lifting H2 corporate earnings outlook,” he added.

Market Depth

Market breadth remained positive. Of the 3,818 stocks traded on BSE, 2,267 stocks advanced, 1,422 declined and 129 remained unchanged.

While BSE MidCap and BSE SmallCap gained 0.71 per cent and 0.94 per cent, respectively, the broader BSE 500 too advanced 0.64 per cent.

Sectoral Indices

Sectoral indices too continue to maintain the momentum with all the indices ended in the green for the second day in a row. BSE Realty continue to be the top gainer (2.64 per cent), followed by BSE Services (1.6 per cent), BSE Consumer Durables (1.44 per cent) and BSE Consumer Discretionary (1.15 per cent).

FII outflows soften

Thanks to positive sentiment all around, foreign institutional investors (FIIs) lowered their intensity of selling. On Friday, they offloaded equities worth ₹12.43 crore, per the provisional data on exchanges.