Closing Bell: Nifty, Sensex end higher for 5th consecutive session; metal shares shine, banking stocks decline

The Indian markets ended in the green for the 5th consecutive session on Thursday. Domestic equity benchmarks Nifty and the S&P BSE Sensex closed above crucial support of 18, 200 and 61,200.   

The broader Nifty closed above 18,250 and 30 share Sensex settled above 61,200 and the indices bounced nack in the last hour after trading falt in the afternoon session 

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Metal shares such as Tata Steel and JSW Steel did well throughout the day as Tata Steel remained top gainer on both the indices. Among other shares, which gained in an otherwise flat session in which the benchmarks hovered around their opening figures, were Coal India, Sun Pharma, UPL, L&T, Mahindra & Mahindra, Powergrid, Bajaj Finserv and TCS. Wipro, Asian Paints, HDFC Bank, IndusInd Bank, Kotak Bank, HCL Tech and Maruti were those which dragged the market the most on Thursday.   

Among Nifty indices, almost all broader market indices ended in the green, while FMCG, IT, banking and financial services remained under pressure.   

Speaking about the market performance, Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers, said Indian markets opened flat to marginally positive despite negative Asian market peers after higher inflation reading from the US and China's bank lending declining to more than expected in December.  

"During the afternoon session markets managed to trade in green albiet with a narrow range. Traders were positive, as Commerce and Industry Minister said start-ups of the country will help India transition from an assembly economy to a knowledge-based economy. Adding more relief, a private report stated that digital platforms help unlock up to 30 per cent more value for micro entrepreneurs who are associated with them by helping overcome challenges like market access and credit,”he added.