Indian shares ended higher on Thursday with BSE Sensex at record closing high and Nifty above 12,000-mark for the first time since June 4 as sentiment was lifted post government's boost to the realty sector and positive developments in US-China trade deal. Finance minister Nirmala Sitharaman announced that the government will invest Rs 10,000 crore in the fund to help ease financial stress on the real estate sector.
State Bank of India (SBI) and Life Insurance Corporation of India will also contribute an additional Rs 15,000 crore in the alternative investment fund (AIF) for the completion of stalled affordable and middle-income housing projects.
Globally, Europe’s share markets hit a more than 4-year peak and bond yields shuffled higher on Thursday, as Beijing signaled a ‘phase 1’ trade deal with the United States was close to being sealed.
The Sensex ended the day 184 points higher to end at record closing high of 40,654 as compared to its previous closing high of 40,469.78 hit on November 6. Meanwhile, the broader Nifty50 index added 46 points to end the day at 12,012. The Nifty Midcap rose 0.77 percent, while and the Nifty Smallcap index advanced 0.5 percent.
In intra-day deals, the BSE Sensex rose as much as 218 points to hit an all-time high of 40,688.
The move pushed the Nifty realty index as much as 3.1 higher to a near four-month peak in intraday deals. The sector settled around 1 percent higher with real estate firms such as Indiabulls Realestate, Phoenix, Prestige Estates Projects and Sobha up between 2-5 percent. Infrastructure firm NBCC (India) surged over 8 percent post the announcement.
Meanwhile, on Nifty, Bharti Infratel, Sun Pharma, IndusInd Bank, Hindalco, and JSW Steel were the top gainers, while UPL, Yes Bank, BPCL, GAIL, and Cipla led the losses.
All sectoral indices, except Nifty Auto and Nifty PSU Bank ended in green for the day. Nifty Metal rose the most, up 1.1 percent during the day, followed by Nifty Realty, up 0.9 percent. Meanwhile, Nifty FMCG also advanced 0.54 percent and Nifty IT added 0.45 percent. However, Nifty PSU Bank fell 1.5 percent for the day and Nifty Auto slipped 0.2 percent.
Shares of Indiabulls Housing Finance surged 8.8 percent post government's realty push and its robust September-quarter earnings.
Whereas, private sector lender Yes Bank slipped over 3 percent after Moody’s placed the bank’s ratings under review on Wednesday.
First Published: Nov 7, 2019 3:54 PM IST
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