Obama's victory cheers Sensex
Sensex closes at 18902, up 85 points. NSE Nifty ends at 5,760, up 35 points.
Markets opened with a negative note. Investors will also closely watch the upcoming 18th Congress of the Chinese Communist Party that begins on Thursday.
Obama is his victory speech said that "The Best Is Yet To Come."
On the global front, Asian markets closed mixed, while Hong Kong ended up 0.3%, while the Nikkei in Tokyo and the Shanghai Composite dropped by a fraction of a percent.
Realty and banking stocks gained 2% each.
Finally, the BSE Sensex closed at 18902, up 85 points. It had earlier touched a day's high of 18973 and a day's low of 18786 after opening at 18802.
The NSE Nifty ended at 5,760, up 35 points over the previous close. It earlier touched a day’s high of 5,777 and a day’s low of 5,711. It opened at 5,718.
“With the re-election of Barack Obama as US President, the period of uncertainty and anxiety on this issue has ended. The gains in the Nifty is a reflection of the optimism that quantitative easing measures would continue under Obama’s regime,” says Amar Ambani, Head of Research, IIFL.
The BSE Small-Cap index and BSE Mid- Cap index was trading up at 1%.
TCS, Infosys, Wipro, HDFC, DLF, IDFC, SBI, ICICI Bank, BHEL, Tata Steel, Hero MotoCorp, Maruti, Sun Pharma, L&T,HUL are among gainers in the Sensex and Nifty.
RIL, Bharti Airtel, Coal India, Tata Power, Cipla, HDFC Bank are among the losers in Sensex and Nifty.
Realty, Teck, IT, PSU, Power, Consumer Durables, FMCG, Bankex, Capital Goods, Metal, HC, Metal indices are the gainers.
Oil and Gas indices are the losers.
The INDIA VIX on NSE was down 5% to end at 14.50. It hit a day’s high of 15.39 and a day’s low of 14.41.
Shares of Bharti Airtel Ltd slipped 1% at Rs271 after reports stated that company's net profit stood at Rs7.21bn, while its net sales is at Rs202.73bn.
Shares of Coal India Ltd was down 1% at Rs348, after reports stated that private power producers' lobby has taken Coal India Ltd (CIL) to the Competition Commission of India (CCI) over the long-standing issue of fuel supply pacts.
Shares of Infosys was up 2% at Rs2399. The company has been selected by Lloyd's Register Group, a global independent risk and safety assurance organization, as its information systems transformation partner.
Shares of Tata Motors remained flat at 1% at Rs269 ahead of the results.
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India Infoline Research Team / 10:47, Aug 24, 2015
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