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Sensex, Nifty End a Tad Higher, Banking and Auto Stocks Save the Day

During the week, the Sensex lost 231.58 points, or 0.60 percent; while the NSE Nifty gave up 61.85 points or 0.55 percent. Yes Bank, PowerGrid, Maruti Suzuki, IndusInd Bank and Axis Bank were among the top gainers.

PTI

Updated:August 16, 2019, 4:47 PM IST
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Sensex, Nifty End a Tad Higher, Banking and Auto Stocks Save the Day
NSE (National Stock Exchange) building is seen in Mumbai. (Photo: Reuters/Shailesh Andrade)
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Mumbai: Benchmark indices Sensex and Nifty pared early losses to settle marginally higher on Friday, helped by fag-end buying mainly in banking and auto stocks tracking an uptrend in most Asian markets.

After swinging 470 points during the day, the 30-share Sensex settled 38.80 points, or 0.10 percent, higher at 37,350.33. It hit an intra-day high of 37,444.45 and a low of 36,974.41.

The broader NSE Nifty gained 18.40 points, or 0.17 percent, to close at 11,047.80. During the day, it hit a high of 11,068.65 and low of 10,924.30.

During the week, the Sensex lost 231.58 points, or 0.60 percent; while the NSE Nifty gave up 61.85 points or 0.55 percent.

Yes Bank was the biggest gainer in the Sensex pack, rallying 3.79 percent. It was followed by PowerGrid, Maruti Suzuki, IndusInd Bank and Axis Bank rising up to 2.85 percent.

On the other hand, TCS, Vedanta, HCL Tech, HDFC and RIL fell up to 1.87 percent.

Concerns over economic slowdown, weak earnings and global trade volatility have been weighing on investor sentiment, experts said.

In view of fast-spreading slowdown in various sectors, the Indian government on Thursday reviewed the state of the economy.

India's economic growth has slowed to 6.8 percent in 2018-19 - the slowest pace since 2014-15, consumer confidence is waning and foreign direct investment has plateaued. International trade and currency war is further aggravating the problem.

Meanwhile, the Indian rupee appreciated 15 paise to 71.12 against the US dollar intra-day.

Elsewhere in Asia, Shanghai Composite Index, Hang Seng and Nikkei ended in the green, while Kospi settled lower.

Equities in Europe were trading on a positive note in their respective early sessions.

Brent crude futures, the global oil benchmark, rose 1.89 percent to USD 59.33 per barrel.

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