Markets

Sensex Rises 175 Points; Nifty Ends Above 12000

(RTTNews) - Indian shares shrugged off mixed global cues to end higher on Wednesday, with auto, banking and metal stocks leading the surge after survey results from IHS Markit showed that India's services sector activity recovered in November amid a rise in new business intakes and job creation.

The services Purchasing Managers' Index, or PMI, rose to 52.7 in November from 49.2 in October.

The benchmark S&P BSE Sensex climbed 174. 84 points, or 0.43 percent, to 40,850.29, while the broader NSE Nifty index ended up by 43.10 points, or 0.36 percent, at 12,037.30.

Tata Motors soared 7 percent after announcing the rollout of the first unit of its premium hatchback Altroz.

Yes Bank shares surged nearly 6 percent ahead of a board meeting next week to decide on capital infusion.

Hindalco, Vedanta and ICICI Bank rallied 3-4 percent while Bajaj Finserv, IOC, Coal India, Reliance Industries and Larsen & Toubro dropped 1-2 percent.

CSB Bank, formerly Catholic Syrian Bank, made a strong debut, with the stock rallying 54 percent over the issue price of Rs. 195 to close at Rs. 300.35 on the NSE.

Global cues were mixed, with Asian markets following Wall Street to end lower while European stocks rallied on a Bloomberg report that the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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