Sensex, Nifty begin 2020 on positive note as financial, IT stocks advance

Sensex, Nifty begin 2020 on positive note as financial, IT stocks advance

MUMBAI: The BSE benchmark sensex settled within the green on the primary trading day of 2020 on Wednesday, tracking gains in index heavyweights Infosys, HDFC twins and Larsen & Toubro.
The 30-share BSE sensex ended the day higher by 52.28 points, or 0.13 per cent, at 41,306.02. The broader NSE Nifty closed 14.05 points, or 0.12 per cent, higher at 12,182.50.
PowerGrid was the highest gainer within the sensex pack, spurting 2.76 per cent, followed by NTPC, M&M, L&T, Hindustan Unilever, HDFC, and Infosys.
On the opposite hand, Titan fell the foremost by 2.76 per cent, followed by IndusInd Bank (1.72 per cent), and Bajaj Auto (1.21 per cent).
Experts said investor sentiment was boosted by positive macro numbers amid lack of worldwide cues.
"Indian markets started the New Year on a positive note without much cues on global front as markets remained closed. Sentiments remained positive on report that India's accounting deficit (CAD) narrowed to 0.9% of GDP, or $6.3 billion, within the September 2019 quarter, on account of lower deficit," said Narendra Solanki, head fundamental research (Investment Services) - AVP Equity Research, Anand Rathi Shares & Stock Brokers.

In the first session of the year, major indices lost initial gains and traded marginally higher with investors and traders seeing buying into mid and little cap stocks, Rathi added.
On sectoral front, IT, FMCG and pharma traded in green while Auto, Metals, Financials remained weak.