Equity indices pared some gains and came off the day’s high in afternoon trade with the Nifty giving up 11,600 mark on August F&O expiry. On sectoral front, realty, banks, auto and pharma stocks gained while FMCG and metals shares declined.
The S&P BSE Sensex ended 39.5 points or 0.10% higher at 39,113 levels while NSE’s Nifty ended at 11,574, up 24 points or 0.21%.
Real estate stocks ended higher after the Maharashtra government on Wednesday announced a cut in stamp duty and other levies for buying and selling of properties in urban and rural areas.
The Nifty Bank extended rally for the fifth straight day, ended 1% higher, while Nifty FMCG ended 0.2% lower.
Broader markets managed to post gains with the Midcap index ending 0.2% higher and the Smallcap index gaining 0.5%. Both the indices ended higher for the ninth straight session and this is the longest winning streak for the midcap index in seven months.
The India Volatility Index (VIX) ended 2.2% lower at 18.9.
On the economy front, the Goods and Services Tax (GST) Council will hold its 41st meeting today, 27 August 2020 to discuss the single-point agenda of compensation to states for revenue losses under the indirect tax regime.
Meanwhile, European markets and US futures declined as investors looked ahead to a speech by the US Federal Reserve chairman.
