BIZNAMA
The benchmark domestic equity indices staged a strong comeback today, with both the indices rising around one and a half percent supported by buying across all sectors and positive global cues. The 30-share index at the Bombay Stock Exchange, Sensex, climbed 1,089 points, or 1.49 percent, to close at 74,227. The National Stock Exchange Nifty-50 rose 374 points, or 1.69 percent, to settle at 22,536.
The broader market indices at the BSE also logged gains. The Mid-Cap index advanced over 1.8 percent and the Small-Cap index jumped over 2.1 percent.
In the Sensex index, barring PowerGrid, which dropped 0.14 percent, all other companies ended in positive territory. Among the top gainers, Titan rose almost 3.3 percent, Bajaj Finance advanced over 3.2 percent, and SBI Bank increased three percent.
In sectoral indices at the BSE, all 21 sectors registered an upsurge. In the top gainers, Oil and Gas added over 2.5 percent, Realty rose over 2.4 percent, and Consumer Durables as well as Telecommunication gained over 2.3 percent each.
The overall market breadth at the BSE was positive as shares of 3,093 companies advanced, 871 declined, and 119 remained unchanged. At the National Stock Exchange, 17 companies hit their 52-week high, while 22 hit their 52-week low.
Mirroring the Asian peers, the 30-stock Sensex settled at 74,227.08, up by 1089.18 points or 1.49 per cent. Nifty50 gained 374.25 points or 1.69 per cent to close at 22,535.85.
In the broader markets, BSE Midcap and Smallcap jumped around 1.87 per cent and 2.18 per cent, respectively.
Among sectors, the Nifty Financial Services, FMCG, IT, PSU Bank, Auto, and Realty indices advanced up to 2 per cent.
From the Asian markets, Japan’s Nikkei 225 surged 6 per cent, Shanghai Composite Index jumped 1.58 per cent, and Hong Kong’s Hang Seng index rose 1.51 per cent on Tuesday.
Except for PowerGrid, all the Sensex constituents closed with gains. Among the top gainers were Titan up by 3.25 per cent, Bajaj Finance up 3.21 per cent, Larsen & Toubro up 3.07 per cent, State Bank of India up 3 per cent, and Axis Bank up by 2.91 per cent.
Apart from global indicators, investors are awaiting the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting’s decision scheduled for tomorrow, along with India Inc’s Q4 earning and macroeconomic data later in the week.
However, analysts suggest that the Reserve Bank of India’s likely 25-basis points (bps) rate cut on Wednesday may not provide the necessary upside trigger to the markets as investors remain fixated on the broader impact of the escalating US-led trade war.