Sensex gains further on global cues
Rising for a third straight session, the BSE benchmark Sensex on Tuesday added another 166 points on the back of strong buying in banking, metal and energy stocks amid positive global cues.
After rallying nearly 300 points during the day, the BSE gauge settled 165.94 points, or 0.42 per cent, higher at 39,950.46. The index hit an intraday high of 40,066.31.
Similarly, the broader NSE Nifty rose 42.90 points, or 0.36 per cent, to settle at 11,965.6. During the day, the index touched a high of 12,000.35 and a low of 11,904.35. On Tuesday, shares of Tata Motors, ONGC, YES Bank, IndusInd Bank and Vedanta were the gainers in the Sensex pack. The stock of the mining major closed 2.3 per cent higher at ₹169.25
Banking stocks rallied on positive sentiments after a report said that the stock of systemwide non-performing assets declined to 9.3 per cent in March 2019, much faster than the RBI’s estimate and steeply down from 11.5 per cent the year before.
Top gainers in the Sensex pack were Tata Motors, ONGC, YES Bank, IndusInd Bank and Vedanta — rising up to 2.71 per cent.
On the other hand, Sun Pharma, M&M, L&T, Coal India and HUL fell up to 3 per cent.
Sectorally, metal, oil and gas and banking indices rose as much as 1.33 per cent. “The markets traded on a positive note following favourable global cues in Asian markets as sentiments turned upbeat after the US announced a deal with Mexico and investors turned hopeful of further progress on US-China trade talks,” said Narendra Solanki, Head — Fundamental Research (Investment Services), AVP Equity Research, Anand Rathi Shares and Stock Brokers.
In Asia, Shanghai Composite Index rallied 2.58 per cent, Hang Seng ended 0.76 per cent higher, Nikkei rose 0.33 per cent and Kospi gained 0.59 per cent.
Bourses in Europe were also trading higher in their early deals. Brent crude futures, the global oil benchmark, fell marginally to $62.24 per barrel.