Sensex jumps 234 points to regain 39,000-mark, Nifty up 74 points; Yes Bank, Tata Motors, Sun Pharma among top gainers
Market benchmark BSE Sensex rose by 234 points to close at 39,131.04 on Tuesday, extending gains for the second straight day as Reliance Industries, Yes Bank, Larsen & Toubro and Infosys advanced
The 30-share BSE Sensex swung 329 points during the day between an intra-day high of 39,173.89 and a low of 38,845.27
The broader NSE Nifty ended 72.70 points or 0.63 percent up at 11,661.05
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 percent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender
Mumbai: Equity benchmark BSE Sensex on Tuesday rose by 234 points, extending gains for the second straight day as index major Reliance Industries, Yes Bank and Tata Motors advanced.
The 30-share index closed at 39,131.04 points, showing a rise of 234.33 points or 0.60 percent. It touched an intra-day high of 39,173.89 and a low of 38,845.27 during the day.
The broader NSE Nifty ended 74.25 points or 0.64 percent up at 11,662.60. During the day, the index hit a high of 11,670.05 and a low of 11,573.95.
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 percent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
Tata Motors jumped 5.53 percent after reports suggested that its British brand JLR has secured a loan guarantee from the UK government.
Sun Pharma, NTPC, PowerGrid, Tata Steel, Axis Bank, L&T, HUL, Asian Paints, RIL and SBI rose up to 2.57 percent.
Infosys rose by 0.71 percent, continuing its rise for a second day after its quarterly results.
Among others, Dewan Housing Finance Corp rebounded by 4 percent after a massive selloff on Monday. The company stressed that it was working with stakeholders and creditors to ensure resolution of liquidity issues, without any haircut to the lenders.
On the other hand, TCS, M&M, HCL Tech, Kotak Bank, TechM, Bharti Airtel and HDFC Bank fell up to 1.86 percent.
"Indian markets are showing resilience as we move into earnings season," said Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management.
The market has clearly factored in dismal earnings, but is cheering the decline in interest rates, improving liquidity as well as incremental positive news on the resolution of some of the large stressed assets, he pointed out.
"Investors seems to take comfort from positive data from RBI on India's services export receipts which grew 15.5 percent in May-19," Narendra Solanki, Head Fundamental Research (Investment Services) - AVP Equity Research, Anand Rathi Shares & Stock Brokers.
Broader BSE midcap and smallcap indices followed benchmarks, closing up to 0.69 percent higher.
Sectorally, BSE realty, oil and gas, consumer durables, power, utilities, energy and capital goods indices ended in up to 1.98 percent higher.
While, BSE IT and teck indices settled up to 0.59 percent lower.
Market breadth was negative as 1,300 scrips declined while 1,162 advanced.
Bond yields slid for a fifth straight day to 6.34 percent, a 2.5-year low mark on the hopes of further rate cuts post three consecutive rate cuts announced by the RBI so far in 2019, he said, adding that yields have come off by almost a percentage point since the beginning of the fiscal year.
Elsewhere in Asia, Shanghai Composite Index and Nikkei ended in the green, while Hang Seng and Kospi settled in the red.
Equities in Europe were trading higher in their respective early sessions.
On the currency front, the Indian rupee depreciated 17 paise to 68.72 (intra-day) against the US dollar as crude oil prices continue to rise. The global oil benchmark Brent crude futures were trading 0.36 percent higher at $66.72 per barrel.
BSE MidCap rose by 323.16 points or 1.28 percent to end at 25,489.70 while BSE SmallCap gained 252.82 points to rise by 0.91 percent to 28,108.92
Sensex went up by 514.34 points to end at 59,005.27 while Nifty ended at 17,562.00 after a gain of 165.10 points.
Sensex fell by 524.96 points to end at 58,490.93 while Nifty ended at a loss of 188.25 points at 17,396.90.