Stock market bounces back; banks, metals shine
Sensex was up 599.34 points, or 0.83 per cent at 73,088.33, while the Nifty was up 151.20 points or 0.69 per cent at 22,147.
Supported by positive Asian and European markets, domestic bourses erased Monday’s declines and closed Tuesday’s trading session on a higher note. The Sensex at the BSE closed 172 points or 0.59 per cent higher at 29,410 and the Nifty at the NSE ended 56 points or 0.61 per cent up at 9,101.
In the broader markets, BSE Midcap and BSE Smallcap indices jumped 0.7 per cent and 0.6 per cent respectively.
Among the BSE sectoral indices, Telecom index closed with the biggest gain, up 1 per cent. Bankex, Auto, Consumer Durables and Power indices were other notable gainers, all up around 0.8 per cent each. Oil & Gas and Realty indices slumped 0.3 per cent and 0.4 per cent respectively.
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On Monday, the Sensex at the BSE had closed 184 points or 0.63 per cent down at 29,237 and the Nifty at the NSE had closed 63 points or 0.69 per cent lower at 9,045.
Top gainers in the Sensex-30 pack: Axis Bank (up 3.2 per cent), HDFC (up 2 per cent), Tata Motors (up 1.5 per cent), Asian Paints (up 1.3 per cent) and ICICI Bank (up 1.3 per cent).
Top losers in the Sensex-30 pack: ONGC (down 1.1 per cent), ITC (down 0.5 per cent), Lupin (down 0.5 per cent), Reliance Industries (down 0.4 per cent) and Coal India (down 0.3 per cent).
Among the Asian markets, Japan’s Nikkei 225 index plummeted 1.1 per cent, Singapore’s Straits Times Index plunged 1 per cent, Hong Kong’s Hang Seng index lost 0.6 per cent each, Korea’s KOSPI shed 0.1 per cent, and China’s Shanghai Composite index declined 0.4 per cent.
European markets were trading in the positive zone. CAC 40, FTSE 100 and DAX indices lost 0.1 per cent, 0.1 per cent and 0.7 per cent respectively.
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