Sensex and Nifty opened higher on Tuesday following the optimism among the investors after few companies reported a better-than-expected second quarter earnings earlier yesterday.
Sensex and Nifty opened higher on Tuesday following the optimism among the investors after few companies reported a better-than-expected second quarter earnings earlier yesterday. BSE Sensex gained 112.54 points to 32,619.26 points and NSE Nifty added 33.7 points to start at 10,218.55 points. The stock of Reliance Industries edged slightly lower after hitting a fresh record high of Rs 947.1. RIL failed to cross the market cap of Rs 6 lakh crore, at the day’s high price it reached Rs 5,98,051.98 crore. Shares of Axis Bank which were under selling pressure since last week witnessed a marginal recovery. The benchmark Sensex advanced 156.24 points to hit the day’s high at 32,662.96 whereas the broader Nifty jumped 34.25 points to mark the day’s high at 10,219.1 points.
Shares of ONGC, Tata Steel, NTPC, HUL, Axis Bank, Asian Paints were the major gainers on Sensex, advanced up to 2.3% while Sun Pharma, Tata Motors, M&M lost up to 0.8%. The stocks of heavyweight companies such as ICICI Bank, HDFC Bank, HUL, Axis Bank, ONGC, Tata Steel contributed the most to the Sensex gains. Collectively these six stocks alone added about 79 points to the index while RIL and Tata Motors capped the gains.
Shares of HDFC Bank, Infosys, Asian Paints gained up to 1.14% on BSE ahead of their second-quarter earnings while Ambuja Cements and Zee Entertainment soared up to 1.17% on NSE. Other major companies which are also scheduled to report their Q2 earnings includes ABB India, Can Fin Homes, ICICI Prudential Life Insurance Company, Mahindra CIE Automotive, Rallis India, Raymond, Artson Engineering, Ashirwad Steels And Industries, Bengal And Assam Company, Chambal Fertilizers And Chemicals, GHCL, GKW, HBL Power Systems, Indian Metals And Ferro Alloys, International Paper Appm, Jenson And Nicholson, Jk Agri Genetics, Phillips Carbon Black, Radico Khaitan, Saregama India, TTK Prestige, Vertex Securities, Visa Steel.
US stocks declined on Monday as each of the major Wall Street indexes retreated from a record, weighed down by a drop in technology and industrial shares. The Dow Jones Industrial Average fell 54.25 points or 0.23 % to 23,274.38, the S&P 500 lost 10.19 points or 0.40% to 2,565.02 and the Nasdaq Composite dropped 42.23 points or 0.64% to 6,586.83.