Sensex reclaims 41,000-mark on upbeat global sentiment, banking

ANI Mumbai, Maharashtra Dec 13, 2019, 06.14 PM(IST)

File photo of Bombay Stock Exchange (BSE) building in Mumbai. Photograph:( Reuters )

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All sectoral indices at the National Stock Exchange (NSE) were in the positive terrain except for Nifty pharma, which dropped by 0.1 per cent.

Equity benchmark indices closed nearly one per cent higher on Friday amid fresh hopes of a trade deal between the United States and China along with a decisive victory of Boris Johnson-led Conservative Party in Britain's elections.

The BSE S&P Sensex surged ahead by 428 points at 41,010 while the Nifty 50 ticked up by 115 points at 12,087.

All sectoral indices at the National Stock Exchange (NSE) were in the positive terrain except for Nifty pharma, which dropped by 0.1 per cent.

But Nifty PSU bank was up by 4.08 per cent, metal by 2.33 per cent and auto by 1.72 per cent.A decisive victory of Britain's Conservative Party strengthens the prospects of a smooth Brexit, ending the three-and-a-half years of political instability in Britain.

Banking stocks gained the most amid reports that lenders are likely to get payments from Essar Steel resolution this month.

Axis Bank climbed up by 4.1 per cent to Rs 752.25 per share while State Bank of India gained by 3.5 per cent, IndusInd Bank by 3.3 per cent and Yes Bank by 2.9 per cent.

Metal stocks witnessed healthy profits with Vedanta gaining by 3.7 per cent, Hindalco by 3.5 per cent and Tata Steel by 2.7 per cent.

Automaker Maruti Suzuki was up by 3.4 per cent to close at Rs 7,242 per share.

However, those which lost were Dr Reddy's, Bharti Airtel, Kotak Mahindra Bank and UPL.

Meanwhile, Asian markets jumped on news regarding the US-China trade deal.Reports said the US and China have reached an agreement over the terms of a phase-one trade deal.

The new tariffs to take force on December 15 onwards have been set aside, the reports said.Japan's Nikkei spurted by 2.55 per cent, Hong Kong's Hang Seng rose by 2.21 per cent and South Korea's Kospi index lifted up by 1.54 per cent.