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Post-Session: Sensex jumps 130 pts; Nifty reclaims 10,800 level

Share Source By

Dion Global

08 Jan 2019

Indian benchmark equity indices ended higher for the third straight session Tuesday on widespread buying towards the fag-end amid fresh inflows by foreign funds and positive global cues. Both indices were traded in the negative zone through the session as investors booked profits in recent gainers amid weakness in the rupee due to rise in global crude prices. Market was choppy through most of the session as investors turned cautious and logged gains ahead of Q3 earnings of bluechip companies such as TCS and Infosys later this week amid fresh weakness in the rupee which again breached the Rs 70-mark against a dollar. However, losses were capped on Central Statistics Office's positive advanced estimates of national income for 2018-19. The domestic economy is expected to grow at 7.2 per cent in 2018-19 against 6.7 per cent in the previous fiscal mainly due to improvement in the performance of agriculture and manufacturing sectors, the CSO had said Monday. The shares of public sector undertaking (PSU) banks continued their upward journey with PSU Bank index hitting a four-month high on Tuesday on the expectation of decline in bad loans. Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday expressed satisfaction over the performance of the banking sector saying bad loans have declined, particularly of state-owned banks. Various initiatives taken by the government have yielded results, with the bad loans of public sector banks declining by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018.

The 30-benchmark indices closed at 35980.93 up by 130.77 points or by 0.36 per cent and then NSE Nifty was at 10802.15 up by 30.35 points or by 0.28 per cent. The BSE Sensex touched intraday high of 36037.35 and intraday low of 35753.95 The NSE Nifty touched intraday high of 10818.45 and intraday low of 10733.25.

The top gainers of the BSE Sensex were Sun Pharmaceutical Industries Ltd. (Rs. 447.15,+3.98%), ICICI Bank Ltd. (Rs. 380.20,+3.46%), State Bank of India (Rs. 305.10,+3.18%), YES Bank Ltd. (Rs. 192.30,+2.86%), Tata Motors Ltd. (Rs. 96.10,+2.40%), among others.

The top losers of the BSE Sensex were Kotak Mahindra Bank Ltd. (Rs. 1230.00,-1.41%), NTPC Ltd. (Rs. 146.95,-0.98%), Housing Development Finance Corporation Ltd. (Rs. 1955.00,-0.81%), HDFC Bank Ltd. (Rs. 2102.85,-0.81%), Hindustan Unilever Ltd. (Rs. 1770.60,-0.79%), among others.

Among sectors, BSE Bankex index was at 30952.41 up by 401.05 points or by 1.31%. ICICI Bank Ltd. (Rs. 380.20,+3.46%), State Bank of India (Rs. 305.10,+3.18%), YES Bank Ltd. (Rs. 192.30,+2.86%), City Union Bank Ltd. (Rs. 193.60,+2.16%), Axis Bank Ltd. (Rs. 650.90,+2.11%). On the flip side, BSE Power index was at 1980.46 down by -5.89 points or by -0.3%. Siemens Ltd. (Rs. 1046.10,-1.29%), Bharat Heavy Electricals Ltd. (Rs. 71.35,-1.25%), NTPC Ltd. (Rs. 146.95,-0.98%), Torrent Power Ltd. (Rs. 262.15,-0.78%), Power Grid Corporation of India Ltd. (Rs. 197.35,-0.53%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2931 , shares advanced were 1357 while 1376 shares declined and 198 were unchanged.