Key market indices further inch up on global cues

Key market indices further inch up on global cues
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Markets end higher for 2nd day on buying in banking counters; Declining dollar index and bond yields provided short-term relief

Mumbai: Equity benchmarks ended higher on Wednesday amid buying in banking counters and a firm trend in global markets. Continuing its previous day rally, the 30-share BSE Sensex climbed 91.62 points or 0.15 per cent to settle at 61,510.58. During the day, it jumped 361.94 points or 0.58 per cent to 61,780.90. The broader NSE Nifty gained 23.05 points or 0.13 per cent to end at 18,267.25.

"Following the global trend, domestic indices continued to cautiously build gains as investors braced for the Federal Open Market Committee (FOMC) meeting minutes. The declining dollar index and falling bond yield provided short-term relief, while the FIIs' unpredictability kept investors at bay," said Vinod Nair, head (research) at Geojit Financial Services.

"Markets held on to modest gains in a volatile session ahead of the key FOMC minutes. Investors preferred to stay on the sidelines despite tomorrow being a November F&O series expiry day," said Prashanth Tapse, research analyst at Mehta Equities Ltd.

Foreign Institutional Investors (FIIs) offloaded shares worth Rs697.83 crore on Tuesday, as per exchange data. In the broader market, the BSE smallcap gauge climbed 0.54 per cent and midcap index advanced 0.20 per cent. Among sectoral indices, oil & gas climbed 0.68 per cent, metal 0.65 per cent, financial services 0.53 per cent, energy 0.53 per cent, healthcare 0.42 per cent, and utilities 0.32 per cent.

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