Nifty snaps 7-day decline, banks, metals, auto gain

MUMBAI – The Nifty witnessed a roller-coaster ride on the Delhi election verdict day and finally closed on positive terrain for the first time after seven days of decline. All major sectoral indices, barring IT and pharmaceuticals, ended in positive terrain, with banks, metals and auto leading the decline.

A lot had to do with Tuesday's verdict that saw the Arvind Kejriwal-led Aam Aadmi Party decimate the BJP and Congress in the Delhi elections. Kejriwal will take oath as the Chief Minister on February 14. His party won 67 out of 70 assembly seats.

The next major event for the market is the Union Budget on February 28.

The 50-share index ended at 8,565.55, up 39.20 points or 0.46 per cent. It touched a high of 8,646.25 and a low of 8,470.50 in trade today.

The S&P BSE Sensex ended at 28,350.56, up 123.17 points or 0.44 per cent. It touched a high of 28,633.72 and a low of 28,044.49 in trade today.



The S&P BSE Midcap Index was up 0.49 per cent and the S&P BSE Smallcap Index edged 0.02 per cent lower.

Among the sectoral indices, the S&P BSE Metal Index gained 1.83 per cent, the S&P BSE Bankex rallied 1.95 per cent up and the S&P BSE Auto Index advanced 1.79 per cent.

The S&P BSE IT Index was down 0.89 per cent and the S&P BSE Healthcare Index edged 0.01 per cent lower.

Tata Motors (up 3.88 per cent), ACC (up 3.85 per cent), ICICI Bank (up 3.70 per cent), SBI (up 3.67 per cent) and Tata Steel (up 3.18 per cent) were among the Nifty gainers.

TCS (2.68 per cent), HCL Tech (2.64 per cent), HDFC (2.40 per cent), Sun Pharma (1.96 per cent) and Tech Mahindra (1.96 per cent) were among the index losers.

The market breadth was negative on the NSE with 549 gainers against 551 losers.

(All figures are provisional)