The Indian stock market ended with smart gains on Tuesday as the Sensex and Nifty hit its highest level since October 13, 2016. The Nifty Bank index, which gained 2.2%, was the top performing sectoral gauge led by ICICI Bank. This was the indices biggest single day jump since May 25 of this year.
The buying was so fierce that not a single sectoral index on the BSE ended with losses; finance, banking, capital goods, metal, industrial, pharma, FMCG, realty and auto stocks ended among the top gainers. Even the mid-cap and the small-cap stocks participated in today’s rally.
Finally, the BSE Sensex ended with a gain of 521 points at 28,051. The BSE Sensex opened at 27,657 touched an intra-day high of 28,054 and low of 27,653.
The NSE Nifty closed with a gain of 158 points at 8,678. The NSE Nifty opened at 8,556 hitting a high of 8,685 and low of 8,556.
The Sensex surged over 500 points while the Nifty50 reclaimed the crucial level at 8,650. Meanwhile, strong gains in global markets also supported the rally in the domestic equity market.
Investors now await a government meeting on the GST for clarity on rates. The three-day meeting of the GST Council, comprising federal and state finance ministers, will decide the main tax rate and those for different sectors.
Among the 50-stocks of Nifty, Adani Ports, ICICI Bank, HDFC, Tech Mahindra, Tata Steel, HCL Tech, Yes Bank and BHEL were among the gainers on NSE, whereas Bharti Infratel, Asian Paints, ONGC and BPCL were among the losers today.
The India VIX (Volatility) index was down 7.13% at 14.5375. Out of 1,492 stocks traded on the NSE, 356 declined and 1,093 advanced today.
The rupee was trading up 18 paise at 66.70 per US dollar.
On the global front, Asian stock markets rose on Tuesday ahead of China’s release of quarterly growth data and a policy meeting of the European Central Bank later in the week. Japanese shares recovered from a weak start to end modestly higher ahead of the earnings season starting later this week. Hang Seng and Shanghai Composite closed 1% each, while Nikkei 225 closed marginally higher.
European shares were trading in green, up by over 1%.
The buying was so fierce that not a single sectoral index on the BSE ended with losses; finance, banking, capital goods, metal, industrial, pharma, FMCG, realty and auto stocks ended among the top gainers. Even the mid-cap and the small-cap stocks participated in today’s rally.
Finally, the BSE Sensex ended with a gain of 521 points at 28,051. The BSE Sensex opened at 27,657 touched an intra-day high of 28,054 and low of 27,653.
The NSE Nifty closed with a gain of 158 points at 8,678. The NSE Nifty opened at 8,556 hitting a high of 8,685 and low of 8,556.
The Sensex surged over 500 points while the Nifty50 reclaimed the crucial level at 8,650. Meanwhile, strong gains in global markets also supported the rally in the domestic equity market.
Investors now await a government meeting on the GST for clarity on rates. The three-day meeting of the GST Council, comprising federal and state finance ministers, will decide the main tax rate and those for different sectors.
Among the 50-stocks of Nifty, Adani Ports, ICICI Bank, HDFC, Tech Mahindra, Tata Steel, HCL Tech, Yes Bank and BHEL were among the gainers on NSE, whereas Bharti Infratel, Asian Paints, ONGC and BPCL were among the losers today.
The India VIX (Volatility) index was down 7.13% at 14.5375. Out of 1,492 stocks traded on the NSE, 356 declined and 1,093 advanced today.
The rupee was trading up 18 paise at 66.70 per US dollar.
On the global front, Asian stock markets rose on Tuesday ahead of China’s release of quarterly growth data and a policy meeting of the European Central Bank later in the week. Japanese shares recovered from a weak start to end modestly higher ahead of the earnings season starting later this week. Hang Seng and Shanghai Composite closed 1% each, while Nikkei 225 closed marginally higher.
European shares were trading in green, up by over 1%.
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