Sensex adds 115 points, Nifty mounts 10,245; ICICI Bank, M&M gain 3%, Wipro drags IT sector in red

Indian stock markets closed higher on Tuesday following the gains in the late afternoon trade with Sensex rising over 100 points and Nifty nearing the 10,250-level at the close before the commencement of RBI’s first bi-monthly policy meeting in FY19 starting tomorrow. All the sectoral indices of National Stock Exchange ended in green barring the Nifty IT index with PSU banking index surging the most. During the day, the key equity indices Sensex and Nifty hovered in negative territory broadly from 10:30 am to 2:30 pm. In the intraday deals, the benchmark Sensex shuttled between a high of 33,402.94 and a low of 33,153.83.

BSE Sensex gained 115.27 points or 0.35% to finish at 33,370.63 whereas NSE Nifty added 33.2 points or 0.33% to settle at 10,245 on Tuesday. Shares of M&M and ICICI Bank emerged as the lead gainers among the components of BSE Sensex on Tuesday. The stock of ICICI Bank jumped 3.49% to a day’s high of Rs 271.05 before settling up 2.94% at Rs 269.6 while the stock of concluded 2.92% higher at Rs 769.4.

Other than ICICI Bank and M&M, shares of Yes Bank, Power Grid, Bharti Airtel, State Bank of India, IndusInd Bank, Axis Bank, Tata Motors, Kotak Mahindra Bank and Reliance Industries were the major gainers among the Sensex scrips on Tuesday rising up to 2.11%. While shares of Wipro, ONGC, Adani Ports, HDFC Bank lost up to 2.02%. Other blue-chip shares which also gained during the day include Indiabulls Housing Finance, Bajaj Finserv, HPCL, Indian Oil Corporation, BHEL, BHPC, Cummins India, Sun TV, Bosch, MRF, SAIL, ICICI Prudential.

Among the constituents of Nifty PSU Bank index, shares of Syndicate Bank, Bank of India, Union Bank of India, Bank of Baroda, State Bank of India, Oriental Bank of Commerce, Canara Bank, Indian Bank, Andhra Bank, IDBI Bank, Allahabad Bank rose 1 to 3% while PNB ended down 0.83%.

Among the group ‘A’ shares of BSE, stocks of Delta Corp and HCC shot up 13.2% and 9.94% respectively whereas shares of Vakrangee and Tech Mahindra lost 5% and 3.7% respectively.

Shares of ICICI Bank, Tata Steel, Reliance Industries, Infibeam Incorporation, State Bank of India and Delta Corp topped the turnover and shares of Jaiprakash Associates, Reliance Communications and Suzlon were the most traded stocks among the total scrips listed on National Stock Exchange.