Sen­sex gains fur­ther on global cues

The Hindu Business Line - - MARKET RADAR -

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.


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