Indian Markets snapped 3-day losing streak on Wednesday - LuvKush Finserve

Markets snapped a 3-day losing streak on Wednesday led by oil and gas shares with Reliance Industries leading the gains. The Sensex rose 22.44 points to end at 19,568.22 while the Nifty ended up 4.4 points at 5,923.85. Oil & gas, real-estate, healthcare, metal indexes gained while IT, consumer durables and technologies lead the declines on the BSE. The gainers on the Sensex included Reliance Industries gaining 2.6%, Sun Pharma added 2%, GAIL was up 1%, ONGC rose 2% while Maruti Suzuki added 1.3% on the BSE.

Reliance Industries ended up 2.6% amid speculation the company may announce a potential tie-up with Reliance Communications Ltd in today's AGM. Sun Pharma Industries Ltd rose 2% after Meda AB said it was not involved in discussions with a potential buyer, contradicting reports that the two companies were in talks.

The laggards were Wipro and Infosys falling over 1% each, ITC declined 1%, Coal India dropped 0.5% while Bajaj Auto fell 0.6% on the BSE. Shares of Just Dial, which made their stock market debut, ended at Rs 612 after the company received huge reponse for its IPO.

Shares of cement stocks ended lower as cement prices have eased and concerns over slowdown in demand following the onset of monsoon rains. The broader markets ended higher with mid-caps and small-caps gaining nearly 0.1% on the BSE.

Source : Equity Bulls

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