ICICI Bank 7% rally swings Sensex, Nifty in green; PC Jeweller drops 16%, bankers shine

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Published: May 8, 2018 5:00:31 PM

The sharp surge in the shares of ICICI Bank led the key equity indices Sensex and Nifty to finish marginally higher in green on Tuesday as domestic markets swung into losses ahead of Donald Trump's decision on US nuclear deal with Iran.

The benchmark Sensex settled at 35,216.32 and broader Nifty 50 concluded at 10,717.8, each up by 0.02% on Tuesday. (Image: Reuters)

The sharp surge in the shares of ICICI Bank led the key equity indices Sensex and Nifty to finish marginally higher in green on Tuesday as domestic markets swung into losses ahead of Donald Trump’s decision on US nuclear deal with Iran. With respect to the decision, crude oil prices dipped a bit on Tuesday retreating from their respective 4-year peaks. The global indicator of NSE Nifty, SGX Nifty was trading little changed, down 0.09% at 10,731.5 on the Singapore Exchange on Tuesday. Shares of ICICI Bank emerged as the second-most traded stocks among all the listed scrips on NSE and contributing heavily to the respective upticks in Sensex and Nifty.

The stock of ICICI Bank surged as much as 8.67% to a day’s top of Rs 314.5 before closing up 6.86% at Rs 309.25 on Tuesday. Shares of ICICI Bank were the top contributors to BSE Sensex on Tuesday, at the end of the day, ICICI Bank stock alone added about 129.59 points to the Sensex which pared off the losses made by HDFC Bank, Infosys, L&T, M&M. Other than ICICI Bank, shares of SBI, Axis Bank and Power Grid were the major gainers among the components of BSE Sensex.

The benchmark Sensex settled at 35,216.32 and broader Nifty 50 concluded at 10,717.8, each up by 0.02% on Tuesday. Shares of PC Jeweller (closed down 16.55% at Rs 200.5), Jubilant Foodworks, PNB Housing Finance, State Bank of India, Axis Bank, TCS, Reliance Industries, Exide Industries and HDFC were among the top 10 turnovers on NSE along with ICICI Bank on second place.

Out of 2,810 total traded companies, 1,173 scrips advanced, 1,506 declined while 131 remain unchanged at the end of Tuesday’s trading on BSE. Other than PC Jeweller, shares of PNB Housing Finance and Trident were the top losers among the ‘A’ group shares on BSE.

European stock markets are mostly lower after a day of gains in Asia, as a decision by US President Donald Trump looms on whether to pull out of the US nuclear deal,” Associated Press said in a report. Among the regional Asian markets, Japan’s Nikkei inched up 0.2% to 22,508.69, Hong Kong’s Hang Seng rose 1.4% to 30,402.81, China’s Shanghai Composite advanced 0.8% to 3,161.50 whereas South Korea’s Kospi lost 0.5% to end at 2,449.81 on Tuesday.

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