Sensex, Nifty Extend Winning Streak In Special Trading Sessions, TCS And Nestle Lead

Image Credit: Reuters

New Delhi: The special trading sessions on Saturday saw Indian equity markets extending their winning streak as the benchmark indices ended higher in both of the special sessions. While the BSE Sensex closed above 74,000, up 342 points (0.46 per cent) the NSE Nifty 50 advanced 35.9 points or 0.16 per cent, to end at 22,502.

During the day, the Sensex rose as much as 0.33 per cent to 74,162.76. Ajit Mishra, senior vice president, research, Religare Broking Ltd, said the benchmark indices experienced a dull special trading session but managed to end with marginal gains.

“Although the mixed performance among major stocks is limiting momentum in the index, the broader market's strength and gains in select heavyweights are providing ample opportunities,” Mishra added.

The national bourses on Saturday conducted a special trading session for an easy switch over to a disaster recovery site. Power Grid, Nestle, Asian Paints, IndusInd Bank, and TCS were the top gainers. JSW Steel, Axis Bank, ICICI Bank and ITC were the top losers.

As per market experts, Dow Jones closing in record territory above 40,000 will continue to provide global support for equity markets. Meanwhile, the FIIs selling declined and on Friday, FIIs turned buyers.

As on May 17, FPI selling stood at Rs 28,241 crore as per NSDL data, according to market experts. In the cash market, FII selling stood at Rs 35,532 crore.