Equity benchmark indices are trading on a positive note on Thursday with investors focusing more on Q4FY19 results.
The Sensex gained 144 points at 39,419 levels and the Nifty gained 30 points at 11,817 levels.
Among stock, Reliance Industries (RIL), Wipro, Axis Bank, Vedanta, and ONGC were the top gainers on the NSE. Conversely, Hindalco, Infratel, JSW Steel, Bharti Airtel, and Tata Steel lost the most.
Shares of Reliance Industries (RIL) were trading 2% high on BSE ahead of its Q4FY19 earnings. Further, shares of Wipro gained 2% after its board approved a proposal to buyback up to 32.30 lakh shares of the company for an aggregate amount not exceeding Rs10,500cr, being 5.35% of the total paid-up equity share capital at a price of Rs325/equity shares.
Sectoral indices on the NSE were trading on mixed note with the Nifty Metal index declining ~1% amid fears of lower demand after Vale allowed restarting of Brazil mine. On the flip side, the Nifty Auto index rose ~1% led by Tata Motors, Motherson Sumi, and Apollo Tyres.
Market breadth was positive on the NSE with 820 shares advancing, 692 shares declining, and 548 remaining unchanged.
Notably, volatility measuring index, India VIX gained 3% at 22.35 points.
Interestingly, RIL, HDFC, ICICI Bank, HDFC Bank, Tata Motors, and Axis Bank contributed to gains in the Sensex.
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