Index heavyweights such as HDFC, HDFC Bank, ICICI Bank, Reliance Industries, Infosys, Kotak Mahindra Bank, TCS and Hindustan Unilever (HUL) were among the top index contributors.
Buoyed by the upbeat global cues, BSE Sensex and Nifty 50 were trading 2 per cent higher on Tuesday led by buying in banks and financial stocks. BSE Sensex was trading 600 points or 1.81 per cent higher at 33,829, while Nifty 50 reclaimed its crucial 10,000-mark, to trade at 10,046. All the 30 Sensex stocks were trading with healthy gains, with Tata Steel as top Sensex gainer, up 4.5 per cent, followed by ICICI Bank, HDFC, Bajaj Finance, IndusInd Bank, Infosys, SBI and RIL. “We have opened above 9950 which is a positive indication – if we can maintain above the levels of 10050, we can go up to 10300. The support for the market continues to remain at the 9700 level,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
HDFC twins top index contributor: Index heavyweights such as HDFC, HDFC Bank, ICICI Bank, Reliance Industries, Infosys, Kotak Mahindra Bank, TCS and Hindustan Unilever (HUL) were among the top index contributors.
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All Nifty sectoral indices in green: All 11 Nifty sectoral indices were trading with gains. Nifty Bank, Nifty Private Bank and Nifty Financial Services were all up over 3 per cent. Similarly, Nifty FMCG index was also trading higher led by gains in Godrej Consumer Properties, Marico, ITC, Godrej Industries and Emami.
FII and DII data: On Monday, Foreign institutional investors (FIIs) sold shares worth Rs 2,960.33 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,076.38 crore on net basis, according to the provisional data available on the NSE.
Corporate earnings: HPCL, NMDC, Ashiana Housing, Bhansali Engineering Polymers, Bliss GVS Pharma, Globus Spirits, Ipca Laboratories, Bank of Maharashtra, Manali Petrochemical, Navin Fluorine International and Schneider Electric Infrastructure are among 25 companies that are scheduled to announce their March quarter earnings today.
Global markets: Asian stock markets jumped in Tuesday’s trade following a late Wall Street surge in overnight trade. US Federal Reserve announced to support financial markets through the coronavirus pandemic which cheered investors. The Nikkei 225 in Japan surged 2.86% while the Topix index advanced 2.49%. The MSCI Asia ex-Japan index traded 0.92% higher. US stock indices ended higher on Monday following an announcement by the US Fed regarding its corporate bond purchasing program. The Dow Jones Industrial Average rose 0.62% to 25,763.16, the S&P 500 gained 0.83% to 3,066.59 and the Nasdaq Composite added 1.43% to 9,726.02.
Coronavirus cases continue to surge: Coronavirus cases in India have reached to 3,43,091 and the death toll stands above 9,900. Out of which there are 1,53,178 active cases in India while 1,80,012 COVID 19 positive patients have recovered.