Sensex down 71 points at 40,779.59, Nifty closes at 12,018.40; Zee, TCS, ITC, L&T gain

06/12/2019

Mumbai: As the Reserve Bank of India (RBI) maintained repo rate at 5.15 percent and kept the policy stance at accommodative, benchmark indices ended lower on Thursday (December 5).
The Sensex was down 70.70 points at 40,779.59, while Nifty closed down 24.80 points at 12,018.40. Among major gainers on the Nifty were Zee Entertainment, TCS, ITC, L&T and Britannia Industries, while JSW Steel, Coal India, Bharti Airtel, IndusInd Bank and Tata Steel were losers.
About 1111 shares have advanced, 1339 shares declined, while 188 shares remain unchanged. Except for IT and FMCG, all other sectoral indices ended in the red led by the metal, bank, pharma, auto, and energy.
During early hours on Thursday, equity benchmark indices were in the positive terrain ahead of a widely expected interest rate cut by the Reserve Bank of India (RBI). At 10:15 am, the BSE S&P Sensex was up by 101 points to 40,952 while the Nifty 50 edged higher by 23 points at 12,066.
Except for Nifty metal and pharma, all sectoral indices at the National Stock Exchange were in the positive zone. Among stocks, Titan was up by 1.5 per cent while Hero MotoCorp added gains of 1.2 per cent, and the other prominent gainers were Zee Entertainment, Tata Consultancy Services, ITC, Eicher Motors and IndianOil Corporation. The stocks which lost were Yes Bank, Bharti Airtel, Coal India and Sun Pharma.
Asian stocks, however, ticked up on signs the United States and China are on track for a preliminary trade deal. MSCI`s broadest index of Asia Pacific shares outside Japan rose by 0.3 per cent while Japan`s Nikkei stock index was up by 0.81 per cent.
Meanwhile, stocks gained amid trade war headlines on Thursday, while sterling rose to its highest in more than two years against the euro on hopes next week`s UK election will lead to a smooth Brexit.
Belief a trade deal would be struck stemmed from a Bloomberg report on Wednesday that China and the US were close to phase one of a deal and from US President Donald Trump`s remarks that talks were going "very well". Trump has said earlier a deal might have to wait until after US elections in November 2020, said Reuters report.

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