New Year: Equities begin 2020 on a positive note led by metal stocks
Among stocks, JSW Steel gained by 1.15% to trade at Rs 273.15 per share while Vedanta moved up by 0.98% and Tata Steel by 0.73%. Adani Ports added gains of 1.97% and engineering major Larsen & Toubro ticked up by 1.5%
Mumbai: Equity benchmark indices started calendar 2020 on a firm note with most sectoral indices in the green during early hours on Wednesday.
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A day earlier, finance minister Nirmala Sitharaman announced a Rs 102 lakh crore infrastructure project pipeline for the next five years at a time when overall economic growth is slowing.
The move is likely to help the country nearly double the size of GDP to five trillion dollars by 2025.
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At 10:15 am, the BSE S&P Sensex was up by 79 points to 41,333 while the Nifty 50 edged higher by 20 points at 12,189.
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Most sectoral indices at the National Stock Exchange were in the positive zone with Nifty metal up by 0.52%, IT by 0.39% and realty by 0.2%.
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Among stocks, JSW Steel gained by 1.15% to trade at Rs 273.15 per share while Vedanta moved up by 0.98 per cent and Tata Steel by 0.73%. Adani Ports added gains of 1.97% and engineering major Larsen & Toubro ticked up by 1.5%.
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The other prominent gainers were index heavyweight Reliance Industries, Bharti Infratel, Wipro and IndianOil Corporation. However, among the losers were IndusInd Bank, Eicher Motors, Coal India, ONGC and Nestle India.Â