Closing bell: Sensex witnesses 292.76-pt hike, Nifty above 10700

09 May, 2018, 01:00 | Author: Shannon Aguilar
  • Markets open higher on positive global cues Sensex surges over 140 points

Indian shares edged up on Tuesday, aided by a surge in ICICI Bank on hopes of improvement in the private-sector lender's asset quality after it announced March-quarter results post market hours on Monday.

However, investors took heart from the management's commentary that the bulk of the bad loans problem is behind it and the focus now shifts to recoveries and resolution, brokers said.

The Sensex touched a high of 35,388.87 points and a low of 35,136.01 during the intra-day trade. Major gainers were ICICI, SBIN, Axis Bank, Powergrid, Bharti Airtel, NTPC, Maruti, Adani Ports, Coal India, TCS, Hindustan Unilever, and ITC rising upto 6.60 percent.

The Sensex succumbed to profit-booking by investors ahead of Karnataka elections this week, with the gauge sinking to the day's low of 35,136.

The BSE's Sensex ended 292.76 points higher at 35,208.14, while Nifty ended at 10,715.50.

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Sectoral indices, led by bank, healthcare, consumer durables, power, FMCG, capital goods and PSU, were in the positive zone, rising by up to 0.88%. On the BSE, 1,509 shares declined, 1,175 shares gained while 126 shares remained unchanged.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 97.15 crore, while the domestic institutional investors purchased stocks worth Rs 923.25 crore. The major losers were Mahindra and Mahindra, Larsen and Toubro and Infosys.

The US market ended 0.39% higher on Monday.

Asian markets closed mostly higher following firm leads from Wall Street overnight.

Besides, investors were concerned over a further rise in global crude oil prices as a result of United States moving away from the 2015 Iran Nuclear Deal.

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