Developed By: iNFOTYKE
Sensex, Nifty extend gains for 2nd day, Yes Bank soars 11 pc
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 per cent.
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 72.70 points or 0.63 per cent up at 11,661.05.
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 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
Tata Motors jumped 5.53 per cent 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 per cent. Infosys rose by 0.71 per cent, continuing its rise for a second day after its quarterly results. Among others, Dewan Housing Finance Corp rebounded by 4 per cent after a massive selloff 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 per cent.
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 resolution of some of the large stressed assets, he pointed out.
Sectorally, BSE realty, oil and gas, consumer durables, power, utilities, energy and capital goods indices ended in up to 1.98 per cent higher.
While, BSE IT and teck indices settled up to 0.59 per cent lower. Market breadth was negative as 1,300 scrips declined while 1,162 advanced.
Elsewhere in Asia, Shanghai Composite Index and Nikkei ended in the green, while Hang Seng and Kospi settled in the red.
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 per cent higher at USD 66.72 per barrel. (PTI)