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Key equity benchmarks continued to trade within a tight range, ending Wednesday’s trade marginally in the green after Reliance Industries recovered from a four-session losing streak, while ICICI Bank rose a day ahead of its quarterly earnings results.
While the market was somewhat under pressure on investors clearing their positions before the monthly expiry in the derivatives segment, a better global trend supported the market. Sentiment also remained weak after the RBI disappointed investors by staying cautious on future monetary easing.
"Sensex gained marginally by 14 points to close at above 20,000. Markets were range bound and action was stock specific ahead of January F&O expiry. PSU banks witnessed sharp declines after lower than expected quarterly result and lack of continuity in the future direction of RBI interest rate
Overseas investors were keen in the regional stocks as rupee strengthened over three-month high at Rs 53.36 on the back of increased dollar inflow and upcoming disinvestment in public sector companies.
The market was supported on firming Asian trend and higher opening in Europe following a powerful performance on Wall Street, where the Dow closed near its record high.
Reliance Industries, a market trend-setter and index heavy advanced 1.87 per cent to Rs 899.05, ended a four-day losing streak.
Private lender ICICI Bank shot up by 1.11 per cent to Rs 1,214.25 ahead of quarterly earning results and Reserve Bank of India cutting key interest rate cut.
(With inputs from agencies)
At 12.42 PM, the Sensex fell a marginal 6.31 points to 19984.59, and the Nifty was trading flat at 6049.95. DLF and Axis Bank continue to rule the 50-stock Nifty with 3.34 percent and 2.32 percent gains.
At 11.03 AM, the Sensex was up 39.98 points at 20030.88, and the Nifty moved up 9.95 points at 6059.85. However, ITC and HDFC were noticeable losers; each trading with over 1 percent cut
At 09.24 AM, the Sensex was up 43.95 points at 20034.85, and the Nifty rose 17.10 points to 6067.00.
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