This Article is From Jan 07, 2020

Sensex Ends 193 Points Higher, Nifty Reclaims 12,000: 10 Things To Know

India, the world's third-biggest oil consumer, imports about 80 per cent of its oil needs, making it highly susceptible to crude price swings.

Sensex Ends 193 Points Higher, Nifty Reclaims 12,000: 10 Things To Know

Gains across sectors - led by banking, financial services and metal shares - pushed the markets higher

  1. The Sensex ended 192.84 points - or 0.47 per cent - higher at 40,869.47 and the Nifty settled at 12,052.95, up 59.90 points - or 0.50 per cent - from the previous close. Both indexes had gained as much as 1.1 per cent during the session.
  2. Thirty three stocks on the 50-scrip index ended higher. Top percentage gainers were Vedanta, Zee Entertainment, UltraTech Cement, UPL and Reliance Industries, ending between 1.69 per cent and 3.65 per cent higher.
  3. On the other hand, Bharti Infratel, Bharat Petroleum, Infosys, Bharti Airtel and Power Grid - finishing the session with losses between 0.93 per cent and 1.81 per cent - were the top Nifty laggards. HDFC Bank, Reliance Industries and HDFC contributed the most to the gain in Sensex.
  4. HDFC Bank closed up 1.58 per cent, a day after the mortgage lender reported a 25 per cent rise in deposits for the quarter.
  5. Analysts said some volatility on account of US-Iran issues cannot be ruled out in the near term.
  6. "We do not have much clarity again from US-Iran issues, there is still uncertainty staying as a cloud," said Anand James, chief market strategist at Geojit Financial Services.
  7. Equities in other Asian markets rebounded with MSCI's broadest index of Asia-Pacific shares outside Japan adding 0.6 per cent, recouping almost all of Monday's losses, and Japan's Nikkei rallying 1.3 per cent.
  8. Shares had fallen sharply on Monday as Iran and the US traded threats after an US air strike killed a top Iranian commander. The mood calmed a little as the session passed with no new aggression.
  9. Oil surrendered hefty gains as some speculated Iran would be unlikely to strike against the US in a way that would disrupt supplies, and its own crude exports. Brent crude futures - the global benchmark for crude oil - fell 54 cents to $68.37 a barrel, having been as high as $70.74 on Monday. 
  10. India, the world's third-biggest oil consumer, imports about 80 per cent of its oil needs, making it highly susceptible to crude price swings.

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