Markets Remain Stable Amid Weak Global Cues

Indian Market remained stable for the third day despite weak signs of global markets. The Indian benchmark indices closed at day’s high on Wednesday with the Sensex gained 0.26 per cent, at 66,169 and the Nifty closed higher 0.26 per cent, at 19,728. 

Domestic indexes began on a bearish tone and extended losses in the first few hours, owing to mixed global cues. However, the market recovered all of its losses in the afternoon session and finished around the day's high.

Except Nifty Finance and Nifty Bank, all the major indices closed in green. 

Top winners on the Nifty were Coal India, ITC, Larsen & Toubro, Cipla and LTIMindtree, while losers were Titan Company, Grasim Industries, Hero MotoCorp, SBI and BPCL.

Dixon Technologies stock reached a new 52-week high of Rs 5,258 on 27 September. The stock has now rallied for three days in a row, having gained roughly 10 per cent. This week's trading volume remained strong with about 10 lakh shares traded on the exchange, compared to a monthly average of 4 lakh shares.

Ujjivan Small Finance Bank rallied up to 9 per cent  and closed at Rs 54.50 or 8.89 per cent higher. Punjab National Bank, Union Bank and UCO Bank gained more than 2 per cent.

Vedanta lost more than 6.7 per cent after Moody downgraded its rating on the concern of unsecured bonds leading to high risk of debt restructuring.

IPOs also had a profitable day with Signature Global listed with 16 per cent premium and closed at 19 per cent gain and Sai Silk listed with 4 per cent premium and gained more than 10 per cent at closing.