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Sensex ends higher at 38,823.11 pts on firm global cues over

Sensex ends higher at 38,823.11 pts on firm global cues over

Mumbai, Ju1 11 (UNI) The bencmark index of Bombay Stock Exchange

(BSE) bounced back on Thursday by 266.07 points to end positive at

38,823.11 on firm global cues after US Federal Reserve chairman

Jerome Powell hinted at a possible rate cut later this month.

The Nifty of National Stock Exchange (NSE) too jumped by 84 points

to 11,582.90.

The Sensex, which had slid by 173 points on Wednesday, opened up by

214 points at 38,751.62, in early trade. It remained in green zone

throughout the day as it touched the day's high of 38,892.50 points,

before closing at 38,823.11, up by 266.07 points compared with its

last close.

The Nifty registered day's high and low at 38,892.50 and 38,631.31

points, respectively.

The gains in sectoral indices like Consumer Discretionary Goods &

Services, Auto, Bankex, Realty and Telecom pushed the Sensex up,

along with scrips of HeroMoto Corp, Tata Motors DVR, Tata Motors,

IndusInd Bank and SBI.

While, sell-off in Tech Mahindra, ICICI Bank, Yes Bank and TCS

capped its further gains, brokers informed.

The broader markets outperformed the Sensex, as the S&P BSE Mid-Cap

index and Small-Cap jumped up by 0.56 per cent and 0.41 pc.

respectively.

The market breadth was positive on BSE, as 1,245 shares advanced

versus 1,193 fell and 158 were unchanged.



Globally, the world stocks rose, while global bond yields fell and

the dollar weakened after Federal Reserve chairman Jerome Powell

bolstered expectations the Fed would cut US interest rates soon.

Japan's Nikkei ended 0.15 per cent lower, while South Korea's Kospi

settled 0.33 pc higher.

The sectoral indices led by Telecom, Auto, Bankex, Realty, Telecom

and Materials increased by up to 1.84 per cent.

Index pivotals that moved up were JSW Steel, IndusInd Bank, HDFC,

HDFC Bank and Reliance Industries, rising by up to 4.28 pc.

Media stocks were in demand. Among them were Zee Entertainment,

Balaji Telefilms, Siti Networks, Zee Media Corp, Prime Focus, Sun TV

Network, TV18 Broadcast and Network 18 Media Investments, suring by

up to 7.54 pc.

Auto stocks led by Hero MotoCorp, Mahindra & Mahindra, Escorts,

Maruti Suzuki, Bajaj Auto, Eicher Motors and Ashok Leyland, climbing

by up to 4.62 pc.

UNI NV SS SM1724

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