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Nov 19, 2019 03:36 PM IST | Source:

Closing Bell: Nifty ends above 11,900, Sensex up 185 pts; PSU banks major gainers

The Sensex was up 185.51 points at 40,469.70, while Nifty was up 72.70 points at 11,957.20.

  • November 19, 2019 04:30 PM IST

    Vinod Nair, Head of Research, Geojit Financial Services:

    Market turned positive due to buoyancy from telecom stocks supported by tariff hike plans. Positive vibes also witnessed in PSU banks having exposure to distressed assets. Gains in Pharma, energy and infra stocks pushed markets higher while losses in Auto, metals and consumer stocks limited the gain. Fear of downgrade in FY20 earnings due to slow pace in consumption demand and industrial growth may consolidate the market in the near term.

  • November 19, 2019 03:35 PM IST
  • November 19, 2019 04:19 PM IST

    Ajit Mishra, Vice President, Research, Religare Broking:

    On the global front, investors are awaiting for US-China trade deal, as it would induce some volatility in the markets. Meanwhile, we continue to remain cautious on the markets in the near-term as it hovering around peak levels.

  • November 19, 2019 04:08 PM IST

    Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures:

    Bulls continue to show resilience as buying activity continues. Banking is taking leadership during this phase of consolidation which is a good sign. Market breadth was tad negative but nothing alarming. Profit booking so far from 12k levels is shallow which suggests underlying strength in the market. Markets are much healthier now as the participation is wider. we continue to remain overall positive on the index and believe the index is poised to hit fresh all-time highs above 12,100 zone.

  • November 19, 2019 03:48 PM IST

    Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking:

    For the coming session, traders need to keep a tab on above mentioned levels; but with a positional view, our bias still remains bullish and we advise traders to create longs in any such intraday declines. We reiterate that it’s a matter of time, we would see index traversing this intermediate barrier of 11950 to head towards all-time highs.

    Although, indices are consolidating with no major momentum, bundle of individual stocks did extremely well for themselves. The Pharma space was clearly on a roll, especially some beaten down mid-cap names. Also, some of the marquee names from the Metal pack had shown good traction. We expect such individual themes to play out well during the remaining part of the week as well.”

  • November 19, 2019 03:32 PM IST

    Market Close: The benchmark indices ended higher on the back of buying seen in the PSU bank, infra and energy stocks.

    At close, the Sensex was up 185.51 points at 40,469.70, while Nifty was up 55.60 points at 11,940.10. About 1140 shares have advanced, 1371 shares declined, and 190 shares are unchanged. 

    Bharti Infratel, Bharti Airtel, Axis Bank, Reliance Industries and Power Grid Corp were among major gainers on the Nifty, while losers were Yes Bank, M&M, Zee Entertainment, TCS and Tata Steel.

  • November 19, 2019 03:26 PM IST

    India Ratings & Research affirmed IND AA- rating to the SAIL's long term bond of Rs 6507 crore, while revised the outlook to negative from stable.

  • November 19, 2019 03:07 PM IST

    IDBI Bank share price rises 7%: IDBI Bank share price rose 7 percent on November 19 after the company divested its stake in IDBI Asset Management to Muthoot Finance

  • November 19, 2019 02:52 PM IST

    Promoters sell remaining stake in Yes Bank: Morgan Credits, Rana Kapoor, YES Capital sold remaining 0.8% stake in company from November 13-14.

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