Indian stock markets ended on a positive note for the second straight session on Tuesday with Sensex rising over 100 points following a sustained uptick in the shares of blue-chip bankers such as State Bank of India, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank.
Indian stock markets ended on a positive note for the second straight session on Tuesday with Sensex rising over 100 points following a sustained uptick in the shares of blue-chip bankers such as State Bank of India, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank. In today’s market dealing, Asian markets extended yesterday’s gain on reports that the United States and China were in discussion to avoid the trade war with Japan’s Nikkei index surging about 2.3% while US dollar fell against a basket of currencies. A market-wide uptick was seen in the domestic equities with mid-caps, small-caps and PSU bank shares leading the charge.
Shares of India’s largest bank by assets and second-largest bank by market capitalisation State Bank of India emerged as the top gainer among the components of BSE Sensex. The stock of State Bank of India added 3.04% to Rs 253.85 on BSE today. While the shares of Bharti group closed in negative territory with shares of Bharti Airtel down 2% at Rs 413.05 and Bharti Infratel down 2.02% at Rs 337 on NSE.
The S&P BSE Sensex advanced 107.98 points or 0.33% to settle at 33,174.39 whereas NSE Nifty concluded flatly at 10,184.15 on Tuesday. All the components of benchmark Nifty PSU Bank index finished in green barring Canara Bank with stocks of IDBI Bank, Indian Bank, Union Bank of India, Punjab National Bank, State Bank of India, Bank of India, Oriental Bank of Commerce and Andhra Bank rising 2 to 6%. During the day, BSE Sensex rallied as many as 304.63 points to mark a day’s top of 33,371.04.
All the sectoral indices of National Stock Exchange ended in red with Nifty PSU Bank index gaining the most followed by Nifty Metal and Nifty Bank. About 1,844 shares advanced while 807 stocks declined out of the total traded scrips 2,807 on Bombay Stock Exchange. As many as 30 shares hit their respective 52-week highs including Jubilant Foods, Nestle and Titan Company.
Among the ‘A’ group shares on BSE, stocks of Sobha, PNB Housing Finance, NIIT, JM Financial and GIC Housing Finance rose 6 to 9% while shares of Kwality Ltd, Vakrangee, Cummins India, Oil India and Fortis Healthcare dropped 3 to 9%. Amid the Nifty blue-chips, shares of Indian Oil Corporation, Indiabulls Housing Finance, Hindustan Petroleum, Hindalco, State Bank of India, Bosch, UPL, Bajaj Finance, Eicher Motors, Aurobindo Pharma, Axis Bank, Vedanta, Tata Steel, IndusInd Bank, Asian Paints, Lupin and Maruti Suzuki surged 1 to 5%.