AGL 37.90 Increased By ▲ 0.18 (0.48%)
AIRLINK 174.51 Increased By ▲ 5.86 (3.47%)
BOP 9.35 Increased By ▲ 0.26 (2.86%)
CNERGY 6.66 Decreased By ▼ -0.19 (-2.77%)
DCL 10.00 Decreased By ▼ -0.05 (-0.5%)
DFML 40.65 Increased By ▲ 0.01 (0.02%)
DGKC 92.75 Decreased By ▼ -0.49 (-0.53%)
FCCL 38.35 Increased By ▲ 0.43 (1.13%)
FFBL 80.90 Increased By ▲ 2.18 (2.77%)
FFL 13.72 Increased By ▲ 0.26 (1.93%)
HUBC 117.90 Increased By ▲ 3.80 (3.33%)
HUMNL 15.23 Increased By ▲ 0.28 (1.87%)
KEL 5.74 Decreased By ▼ -0.01 (-0.17%)
KOSM 8.33 Increased By ▲ 0.10 (1.22%)
MLCF 46.05 Increased By ▲ 0.56 (1.23%)
NBP 74.50 Decreased By ▼ -0.42 (-0.56%)
OGDC 194.10 Increased By ▲ 1.17 (0.61%)
PAEL 32.35 Increased By ▲ 0.11 (0.34%)
PIBTL 8.28 Decreased By ▼ -0.29 (-3.38%)
PPL 169.80 Increased By ▲ 2.42 (1.45%)
PRL 33.81 Increased By ▲ 2.80 (9.03%)
PTC 22.50 Increased By ▲ 0.42 (1.9%)
SEARL 103.66 Increased By ▲ 2.83 (2.81%)
TELE 8.49 Increased By ▲ 0.04 (0.47%)
TOMCL 35.15 Increased By ▲ 0.31 (0.89%)
TPLP 11.43 Increased By ▲ 0.19 (1.69%)
TREET 19.20 Increased By ▲ 0.57 (3.06%)
TRG 61.20 Increased By ▲ 0.46 (0.76%)
UNITY 32.65 Increased By ▲ 0.67 (2.1%)
WTL 1.65 Increased By ▲ 0.04 (2.48%)
BR100 11,385 Increased By 95.7 (0.85%)
BR30 34,613 Increased By 473.2 (1.39%)
KSE100 105,922 Increased By 817.7 (0.78%)
KSE30 32,822 Increased By 267.4 (0.82%)

Indian shares closed higher for a fourth straight session on Wednesday as financials climbed on growing expectations of a likely cut in the cash reserve ratio by the central bank while a pullback in Reliance Industries and autos capped gains.

The NSE Nifty 50 rose 0.04% to 24,467.45, while the BSE Sensex added 0.14% to 80,956.33.

Seven of the 13 major sectors advanced. The broader, more domestically focussed small- and midcaps added about 1% each.

High-weightage financials gained 1.1%, led by a 1.85% rise in top-weighted HDFC Bank. State-owned lenders advanced 2.25%.

Analysts have pointed to the growing possibility of the Reserve Bank of India lowering the CRR - the amount of cash reserves that banks are required to maintain with the RBI – to 4% from 4.5%.

Lower reserves will mean the banks have more money to lend, helping improve liquidity in the economy.

The RBI is also expected to hold rates steady at its policy meeting on Friday due to elevated inflation, but its commentary will likely be pivotal for markets following a sharp growth slowdown in the September quarter.

Indian shares end higher for third straight session on HDFC, Reliance gains

Meanwhile, Reliance Industries - the second heaviest stock in Nifty 50 - fell 1.1%, dragging energy index 0.7% lower. The oil-to-telecom conglomerate had gained about 4% in the previous three sessions.

The auto index also snapped a three-session winning streak, losing 0.7%.

While the tone remained positive for part of the session, profit-booking in select heavyweights limited the upside, said Ajit Mishra, senior vice president of research at Religare Broking.

“We expect the consolidation to continue in the next session, though the overall sentiment should stay positive.”

Among individual stocks, domestic defence firms jumped after the country’s defence acquisition council approved five proposals worth about $2.6 billion to enhance the Armed Forces’ operational capability.

Bharat Dynamics and Data Patterns gained about 5.7% each while Paras Defence rose 3%.

Newly-listed Swiggy added 3.2% after at least three brokerages remained positive on the online food delivery platform’s future earnings outlook.

Comments

200 characters