Sensex Ends 136 Points Higher; Banking Stocks Witness Buying

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Indian share markets continued to trade in the green during the closing hours of the trading session and ended the day on a positive note. Gains were largely seen in the banking sector and telecom sector.

At the closing bell, the BSE Sensex stood higher by 136 points (up 0.4%) and the NSE Nifty closed higher by 26 points (up 0.2%). The BSE Mid Cap index ended the day up by 0.3%, while the BSE Small Cap index ended the day up by 0.4%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 0.5% and the Nikkei was trading down by 0.1%. The Shanghai Composite stood lower by 1.3%.

European markets were trading on a positive note. The FTSE 100 was up by 0.20%. The DAX, was up by 0.27% while the CAC 40 was up by 0.19%

The rupee was trading at 68.78 to the US$ at the time of writing.

In the news from FMCG sector, Hindustan Unilever Ltd (HUL) share price was in focus today after the company said it has signed an agreement with Vijaykant Dairy and Food Products Ltd (VDFPL) and its group company to acquire ‘Adityaa Milk’ brand ice cream and frozen desserts and front-end distribution network across geographies for an undisclosed sum.The company said that this proposed acquisition is in line with HUL’s strategic intent to strengthen its position in the rapidly growing ice cream and frozen dessert market in India.

As per the company statement, VDFPL will manage the business until the transaction is completed, and will also continue to manufacture for HUL for an agreed period of time.

HUL Chairman and Managing Director Sanjiv Mehta said ice creams and frozen desserts is an exciting category for the company and it sees great potential for growth and the acquisition will complement the company’s existing portfolio of Kwality Wall’s.

HUL share price closed today’s trading session down by 1.7% on the BSE.

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