Sensex ends 60 pts higher, retreats from 42K level

Mumbai, Jan 16 (PTI) Market benchmarks Sensex and Nifty on Thursday managed to close with gains but slipped from fresh life-time peaks hit during early trade as investors focussed on signing of US-China initial trade deal.

During the session, the 30-share BSE index breached the 42,000 mark for the first time before settling 59.83 points, or 0.14 per cent, higher at 41,932.56. It hit a record intra-day high of 42,059.45.

Likewise, the broader Nifty scaled its lifetime (intra-day) high of 12,389.05. It ended 12.20 points, or 0.10 per cent, up at 12,355.50.

Nestle India was the top gainer in the Sensex pack, rising 3.23 per cent, followed by Kotak Bank, HUL, Bharti Airtel, RIL, TCS, PowerGrid and Titan.

On the other hand, NTPC, Hero MotoCorp, Tata Steel, Tech Mahindra and Axis Bank finished in the red.

According to traders, domestic market turned positive as global investors heaved a sigh of relief after the US and China on Wednesday signed the first phase of a trade deal, concluding more than a year of tough negotiations between the two largest economies of the world.

Bourses in Hong Kong, Tokyo and Seoul ended higher. While Shanghai closed in the red.

European markets too started on a positive note.

Brent crude oil futures rose 0.52 per cent to USD 64.33 per barrel.

The rupee depreciated 11 paise to 70.93 per US dollar (intra-day). PTI ANS MKJ