Stock markets edge up in volatile trade on derivatives expiry, rise for 3rd day

Mumbai: Benchmark equity indices Sensex and Nifty eked out gains on Thursday to extend the winning run for a third straight day in a highly volatile trade amid the scheduled monthly derivatives expiry and muted trend in the US markets.

The 30-share BSE Sensex closed 86.53 points or 0.13 per cent higher at 66,988.44, registering its third day of gains.

Stock markets witnessed heavy volatility due to the monthly expiry of derivatives contracts and oscillated between gains and losses during the day. Sensex hit a high of 67,069.89 and a low of 66,610.35 in day trade.

Despite heavy volatility, the combined market valuation of all listed companies on the leading stock exchange BSE continued to remain above the USD 4-trillion mark for the second day in a row. The market valuation of all listed companies on the BSE reached the USD 4-trillion milestone for the first time ever on Wednesday.

The broader Nifty50 of the National Stock Exchange edged up 36.55 points or 0.18 per cent to close at 20,133.15.

Analysts said that investors were awaiting GDP and other macro numbers scheduled for release after market hours.

"Asian stocks mostly rose on Thursday to clock their strongest performance in 10 months, as investor sentiment warmed on a relatively benign global interest rates outlook and signs of economic recovery. European stocks rose mildly," said Deepak Jasani, Head of Retail Research, HDFC Securities.

In the broader market, the BSE smallcap gauge climbed 0.96 per cent and midcap index jumped 0.83 per cent.

Among the indices, healthcare rallied 1.66 per cent, consumer durables rallied 1.61 per cent, realty jumped 1.52 per cent, industrials (1.48 per cent), capital goods (1.39 per cent) and consumer discretionary (0.77 per cent).

Utilities and bankex were the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled with gains.

European markets were trading in positive territory. The US markets ended mostly lower on Wednesday.

Global oil benchmark Brent crude climbed 0.84 per cent to USD 83.80 a barrel.

Foreign institutional investors (FIIs) bought equities worth Rs 71.91 crore on Wednesday, according to exchange data.

The BSE benchmark jumped 727.71 points or 1.10 per cent to settle at 66,901.91 on Wednesday. The Nifty climbed 206.90 points or 1.04 per cent to reclaim the 20,000-mark after a gap of over two months. It ended at 20,096.60.