Domestic benchmarks ended Thursday’s trade on a positive note, taking the number of winning streaks for the fifth day in a row, as monthly derivative contracts expired amid weak global cues. The S&P BSE Sensex finished at 39,113.47, up 39.55 points or 0.10 per cent while the NSE Nifty inched up 9.65 points or 0.08 per cent to close at 11,559.25 levels.
Gainers on the BSE charts were led by IndusInd Bank (up over 6 per cent), followed by M&M, SBI, HDFC, Axis Bank, Sun Pharma and Maruti.
On the other hand, ONGC was the top laggard (down by over 1 per cent). Bajaj Auto, RIL, Kotak Bank and UltraTech Cement were among other top laggards.
On the broader front, the S&P BSE MidCap ended flat at 15,155.04, up by 0.01 per cent, whereas SmallCap was up by 0.35 per cent at 15,025.51.
After opening higher, the markets continued to trade in the positive zone in the afternoon session as traders were encouraged by RBI Governor Shaktikanta Das” statement that the new resolution framework is expected to give durable relief to borrowers amid the COVID-19 crisis, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.
However, market participants turned cautious as August futures and options (F&O) contracts expired, traders said.
Further, global investors are awaiting cues from US Federal Reserve Chairman Jerome Powell”s speech at the central bank”s annual Jackson Hole symposium. Officials in the past have used the meeting, being held online this year, to make market-moving announcements.
Bourses in Hong Kong, Tokyo and Seoul settled with losses, while Shanghai was in the positive territory.
Stock exchanges in Europe were trading on a negative note in early deals.
Global oil benchmark Brent crude was trading 0.04 per cent higher at USD 46.18 per barrel.
Meanwhile, the rupee soared 48 paise to close at 73.82 against the US dollar after the RBI Governor said the central bank has not exhausted its ammunition to deal with the pandemic-induced stress.
Speaking at a webinar, Das also said rather than becoming averse to lending, banks have to improve their risk management and governance frameworks, and also build sufficient resilience.