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(16/10/2020 14:37)

Sensex, Nifty trade higher led by bank, metal stocks

Indian benchmark indices continued to trade higher during the late noon trading session amid buying in index heavyweights including Tata Steel, Power Grid Corporation of India , Axis Bank Ltd. , Kotak Mahindra Bank Ltd and HDFC Bank among others.

Indian rupee erased early losses and ended higher at 73.34 per dollar, amid buying seen in the domestic equity market.

It opened marginally lower at 73.43 per dollar against previous close of 73.38 and remained in the range of 73.27-73.43.

At 14:30 hours, the 30-share benchmark index was trading at 40037.82 up by 309.41 points or by 0.78 % and then NSE Nifty was at 11759.45 up by 79.1 points or by 0.68 %.

Sensex touched intraday high of 40125.71 and intraday low of 39699.42 The NSE Nifty touched intraday high of 11789.75 and intraday low of 11667.85

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 394.05,+5.43%), Power Grid Corporation of India Ltd. (Rs. 160.60,+3.25%), Axis Bank Ltd. (Rs. 474.50,+2.54%), Kotak Mahindra Bank Ltd. (Rs. 1342.15,+2.53%), HDFC Bank Ltd. (Rs. 1197.05,+2.39%), among others.

The top losers of the BSE Sensex pack were HCL Technologies Ltd. (Rs. 831.05,-3.30%), Mahindra & Mahindra Ltd. (Rs. 607.00,-1.63%), Asian Paints Ltd. (Rs. 2060.00,-1.41%), Reliance Industries Ltd. (Rs. 2181.55,-1.09%), Sun Pharmaceutical Industries Ltd. (Rs. 487.20,-0.65%), among others.

Among the sectors, Metal index was at 8167.24 up by 254.62 points or by 3.22%. Jindal Steel & Power Ltd. (Rs. 193.90,+5.93%), JSW Steel Ltd. (Rs. 307.20,+5.44%), Tata Steel Ltd. (Rs. 393.40,+5.26%), NMDC Ltd. (Rs. 83.20,+3.03%), Steel Authority of India (SAIL) Ltd. (Rs. 33.75,+2.90%),.

CDS index was at 27288.96 down by -104.13 points or by -0.38%. VIP Industries Ltd. (Rs. 285.05,-0.61%), TTK Prestige Ltd. (Rs. 5704.95,-0.43%), Sheela Foam Ltd. (Rs. 1292.25,-0.41%), Symphony Ltd. (Rs. 836.00,-0.29%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2906 , shares advanced were 1444 while 1260 shares declined and 202 were unchanged.