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Business News/ Markets / Stock Markets/  Sensex gains ahead of RBI monetary policy review
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Sensex gains ahead of RBI monetary policy review

Sensex adds 174.84 points, or 0.43%, to close at 40,850.29; Nifty rises 49 points, or 0.41%, to end at 12,043.20
  • Investors await the central bank’s decision on interest rates, due on Thursday
  • BSE Mid-cap and BSE Small-cap index gained 0.52% and 0.33%, respectively. (PTI)Premium
    BSE Mid-cap and BSE Small-cap index gained 0.52% and 0.33%, respectively. (PTI)

    MUMBAI : India's benchmark indices closed higher on Wednesday ahead of monetary policy review by the Reserve Bank of India on Thursday.

    Investors are awaiting the central bank’s decision on interest rates on Thursday and details of the Union cabinet meeting on Wednesday.

    The Sensex gained 174.84 points, or 0.43%, to close at 40,850.29. The Nifty 50 index gained 49 points, or 0.41%, to close at 12,043.20.

    However, global markets were lower as US President Donald Trump said a trade deal with China might have to wait until 2020 presidential election. Fresh US tariffs on Argentina and Brazil as well as threatened duties on French goods also put pressure on equities.

    Asian markets closed in red. Japan's Nikkei 225 index lost 1.05%, Hong Kong's Hang Seng index lost 1.25% and China's Shanghai Composite index lost 0.23%.

    Back home, among sectoral indices, BSE Metals gained the most with 1.61%, followed by BSE IT index with 1.37% and BSE Consumer Durables with 1.33%. However, BSE capital goods index was the biggest loser with 1.33%.

    BSE Mid-cap and BSE Small-cap index gained 0.52% and 0.33%, respectively. The market breadth was negative. On the BSE, 1,029 shares rose and 1,293 shares fell. A total of 195 shares were unchanged. In Nifty 50 index, 23 stocks advanced while 27 stocks declined.

    Among stocks, Tata Motors surged 7.11% to close at 169.40 after Jaguar Land Rover total November US sales reached 12,472 units, up 6% from November 2018.

    Shares of Larsen & Toubro (L&T) hit an over three-month low of 1,287, down 2% on Wednesday. It fell 3.5% in the past two trading days, after media reports said Maharashtra chief minister has ordered a review of all projects/proposals cleared by earlier government in the last six months.

    Piramal Enterprises slipped 2.08% to close at 1,688.35 after the company's pharma solutions business announced that the company will be partnering with BerGenBio ASA on the development of Bemcentinib for the treatment of elderly patients.

    Shares of CSB Bank made a strong debut on exchanges on Wednesday. It rose as much as 57% intraday to close at 300.10, up 9.13% from the issue price of 195. The stock subscribed a whopping 87 times.

    HDFC Asset Management Company fell 3.26% to close at 3,329.10 after Standard Life said it will offload 2.23% stake in regulatory filing to stock exchanges.

    Yes Bank gained 5.97% to close at 63.05 after the private sector lender has sold its entire holding of 13,77,000 equity shares constituting 5.49% of the paid-up share capital of One Point One Solutions Limited.

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    Published: 04 Dec 2019, 09:49 AM IST
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