ADVERTISEMENT
Sensex Closes 317 Points Higher, Nifty Reclaims 10,750: 10 Things To Know
19 Nov 2018, 04:12 PM IST 
The Sensex and Nifty closed higher for a third session in a row.
- Top gainers on the 50-scrip Nifty were Yes Bank, ITC, Tata Motors, IndusInd Bank and Vedanta, closing with gains between 4.7 per cent and 7.8 per cent.
- The overall breadth of the markets favoured the upside, with 922 stocks ending higher on the NSE versus 807 that finished lower. On the BSE, 1,331 stocks advanced while 1,272 declined.
- The Nifty FMCG - a sectoral index on the NSE comprising consumer goods stocks - finished with a gain of 1.7 per cent, led by Dabur and ITC which rose 2.5 per cent and 2.9 per cent respectively.
- Shares in exporters such as IT and pharma companies rose, with the Nifty IT and pharma indices gaining 0.9 and 1.1 per cent respectively, despite the rupee moving higher against the dollar. The rupee strengthened to 71.62 per dollar as against the previous close of 71.92 on Friday. Any appreciation in the rupee against the greenback limits the profitability for exporters.
- Analysts awaited the outcome of the ongoing meeting of the RBI board with the government due later in the day.
- Monday's meeting marks the first since the extent of a deep rift between the central bank and the government became public.
- The government is pressing the RBI for easing of lending and capital rules for banks, providing more money to non-banking financiers, financing support for small businesses and giving the Centre greater access to surplus reserves the central bank has built.
- The major thing to look out for from the meeting is if they come out with any respite for non-banking financial companies' liquidity situation, news agency Reuters cited Saurabh Jain, assistant vice-president-research at SMC Global Securities, as saying.
- In terms of stock-specific action, Jet Airways shares closed 6.9 per cent lower, after Tata Sons said on Friday it was only in preliminary talks with the struggling carrier but had not made a proposal to acquire a stake.
- On Friday, foreign institutional investors (FIIs) bought shares worth Rs 844.82 crore, while domestic institutional investors (DIIs) sold shares worth Rs 372.24 crore, provisional data showed.
(With agency inputs)