Closing bell: Sensex rises 204 points, Nifty settles at 10,729 led by Infosys, TCS

The BSE Sensex closed 203.81 points up at 35,716.95, while the Nifty 50 ended 43.25 points higher at 10,728.85. Here are the highlights from the markets

Benchmark indices BSE Sensex and NSE’s Nifty 50 gained for the third straight say on Wednesday led by IT stocks such as Infosys and TCS, which rose over 4%. following positive cues from global markets ahead of key G20 and Opec meetings. Asian stocks traded mixed as investors mulled comments from Federal Reserve officials and the chances of a breakthrough in the US-China trade dispute. Shares posted modest losses in Australia, South Korea and China, were little changed in Japan and edged higher in Hong Kong. Overnight in the US, the S&P 500 Index climbed for a second day. Oil prices rose ahead of an OPEC meeting next week where the members are expected to decide some form of supply cut to counter an emerging glut.

3.37 pm IST
Closing bell: Sensex, Nifty rise for 3rd day
The BSE Sensex closed 203.81 points, or 0.57%, up at 35,716.95, while the Nifty 50 ended 43.25 points, or 0.40%, higher at 10,728.85. However, the BSE Midcap and Smallcap indices fell 0.50% and 0.48%, respectively.
Fourteen out of the 19 sectoral indices on BSE posted losses with telecom falling most at 2.8%. Realty, oil and gas, capital goods, industrials and metal declined between 1% to 1.9%. IT and teck gained most at 3.58% and 2.88%, respectively. Consumer durables, energy and finance also rose.
TCS, Infosys, Reliance, IndusInd Bank and Power Grid were among the major gainers on the key indices, whereas Yes Bank, Bharti Airtel, Tata Motors, BPCL and ONGC were top gainers.

9.23 pm IST
Election fog clouds Indian stocks’ outlook: Reuters poll
The outlook for Indian stocks for 2019 has been downgraded for the first time this year, according to a Reuters poll of strategists who expect the market to recoup its recent losses only once uncertainty around next year’s elections fade. With state elections slated over coming months and a general election scheduled for May, Indian shares could remain subdued until the results become clear, according to a Nov 13-26 poll of 50 strategists.
2.54 pm IST
Yes Bank shares fall nearly 10%
Yes Bank shares traded 9.66% down at Rs 165.45 per share. The bank said that it was not involved with the fund management of its promoter firms YES Capital (India) Pvt Ltd and Morgan Credits Pvt Ltd. The bank’s clarification came in response to an Economic Times report on Wednesday, which said that these firms routed debt money as equity into private finance companies.
Moody’s Investors Service on Tuesday downgraded Yes Bank’s rating, citing corporate governance concerns and impact of leadership change on the bank’s growth plan.

source: livemint.com