Mumbai: India's benchmark equity indices closed at record highs with the Sensex closing above the 41000 mark led by gains in auto and energy stocks and on positive development around the US-China trade talks. Trade was choppy during the day ahead of the expiry of the November derivatives series on Thursday.
BSE Sensex gained 199.31 points or 0.49% to close at 41020.61, and the Nifty 50 index gained 63 points or 0.52% to close at 12100.70.
Among sectoral indices, BSE Auto was the biggest gainer, rising 1.22%. BSE Oil&Gas rose 1.05% and BSE Metals gained 0.91%.
BSE Capital Goods was the biggest laggard, closing 1.09% lower.
Yes Bank jumped 7.65% to close at ₹68.25. The company’s board will meet on 29 November to consider raising funds by issuing equity/equity linked securities through permissible modes, subject to necessary shareholders and regulatory approvals.
Shares of RBL Bank gained 5.8% to close at ₹367.65 on report that the private lender is looking to raise up to ₹2,000 crore through a qualified institutional placement (QIP) offering.
Auto stocks gained on hope the government would announce more measures to boost the sector. Tata Motors, M&M and TVS Motors gained between 1% and 2.5%. Ashok Leyland gained 1.3% to close at ₹81.80 after it bagged an order to supply 1,750 buses to the Tamil Nadu state transport department.
Larsen & Toubro fell 2.05% to close at ₹1334.90 after Credit Suisse downgraded the stock to neutral from outperform in the long term and revised its target price to ₹1460 down from ₹1750 earlier.
The BSE Midcap and Smallcap index gained 0.82% and 0.19% respectively. On the BSE, 1231 shares rose and 1284 shares fell. A total of 214 shares were unchanged. In Nifty 50 index, 37 stocks advanced and 13 stocks declined.
Asian markets closed higher on Wednesday amid hope of an imminent trade deal between the US and China. Japan's Nikkei 225 gained 0.28%, Australia's S&P/ASX 200 rose 0.93% and Taiwan's Taiex climbed 0.61%.