Market

Closing Bell: Sensex ends flat after hitting 42,000; Nifty holds 12,350; Eicher Motors top gainer

Updated : January 16, 2020 03:41 PM IST

Indian shares ended marginally higher on Thursday after US and China signed an initial trade deal aimed at diffusing their 18-month tariff war.

The Sensex settled 60 points higher at 41,932, while Nifty ended 12 points higher at 12,355.

During the day, Sensex hit 42,000 for the first time with index heavyweights Reliance Industries, Kotak Bank, HUL, and Nestle contributing the most to the gains.

Indian shares ended flat on Thursday after hitting record highs in intra-day deals, as US and China signed an initial trade deal aimed at diffusing their 18-month tariff war.

During the day, Sensex hit 42,000 for the first time with index heavyweights Reliance Industries, Kotak Bank, HUL, and Nestle contributing the most to the gains. However, gains were capped as investors shifted focus to domestic corporate earnings.

The Sensex settled 60 points higher at 41,932, while Nifty ended 12 points higher at 12,355. In intra-day deals, the Sensex rose as much as 187 points to hit a new high of 42,059, while Nifty added 46 points to hit a fresh high of 12,389.

China will boost spending on US products in exchange for the rolling back of some tariffs under an initial trade deal signed by the world’s two largest economies on Wednesday. The contentious trade talks had cast a pall over global markets for much of 2019 until signs a deal was in place late last year helped lift sentiment.

Meanwhile, broader markets outperformed with Nifty Midcap and Nifty Smallcap indices up 0.8 percent and 0.5 percent, respectively.

Among stocks, Eicher Motors, Nestle, Zee, Kotak Bank, and Bharti Airtel were the top gainers on Nifty, while NTPC, Bharti Infratel, JSW Steel, GAIL, and Hindalco led the losses.

All sectoral indices, except Nifty Metal, ended the day in the green. Nifty Media rose the most, up 1.4 percent, while Nifty Realty and Nifty Pharma added 0.7 percent and 0.4 percent, respectively. Nifty FMCG, and Nifty IT also advanced 0.2 percent each. Meanwhile, Nifty Bank and Nifty Auto were flat with a positive bias. However, Nifty Metal shed 1.3 percent during the day.

Wockhardt surged 5 percent after the Drug Controller General of India (DCGI) approved its two new antibiotics.

Sterlite Technologies plunged 5 percent as the company's consolidated net profit for the quarter ended December fell 67 percent to Rs 52.63 crore on a sequential basis.

Closing Bell: Sensex ends flat after hitting 42,000; Nifty holds 12,350; Eicher Motors top gainer

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