Sensex rises 150 points on easing US-China tensions; Nifty tops 11,500
In the 30-share pack Sensex, IndusInd Bank was the biggest gainer, up 2.08 per cent at Rs 540.10. It was followed by SBI, Axis Bank, Bajaj Finance, ICICI Bank and M&M that gained in the range of 1-2 per cent.
By ETMarkets.com | Updated:
Sensex rises 130 points, Nifty tops 11,500; Allcargo Logistics rallies 20%
NEW DELHI: Domestic equity indices maintained their upward momentum on Tuesday after reports said US-China tensions have eased, which also lifted Asian markets, but risks around the economy and ongoing health crisis kept investors on their toes.
The positive tone across the markets follows reports that top US and Chinese officials see progress being made in resolving concerns around the Phase 1 trade deal reached between the two countries in January.
At 09.26 am, BSE flagship Sensex was up 150 points or 0.39 per cent at 38,949 while NSE benchmark Nifty added 45 points or 0.39 per cent to 11,511. Banks, metal and auto saw buying while IT and media stocks were under pressure.
In the 30-share pack Sensex, IndusInd Bank was the biggest gainer, up 2.08 per cent at Rs 540.10. It was followed by SBI, Axis Bank, Bajaj Finance, ICICI Bank and M&M that gained in the range of 1-2 per cent.
Nestle India was the biggest loser, down 0.94 per cent to Rs 16,380. HCL Technologies, UltraTech Cement, Bajaj Auto and Sun Pharma were among other top losers in the pack, down up to a per cent.
Broader market indices were faring better than their headline peers as Nifty Smallcap added 1.10 per cent while Nifty Midcap climbed 0.90 per cent. Broadest index on NSE, Nifty 500 was up 0.56 per cent.
Nifty PSU Bank was the biggest sectoral gainer on NSE, rising 1.31 per cent. It was followed by Nifty Auto, Nifty Financial Service and Nifty Bank gains of about a per cent. Nifty IT was down 0.13 per cent.
Globally, Asia's stock markets were mostly higher as investors cheered signs of progress in US-China trade negotiations and following a fresh Wall Street rally.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.32 per cent to its highest since early January and sits just a fraction below a two-year high.
Japan's Nikkei was trading 1.5 per cent higher and banking stocks led Australia's S&P/ASX 200 up 0.58 per cent.
The Hang Seng Index in Hong Kong was an outlier in early trade, slipping 0.27 per cent while the Shanghai Composite was 0.15 per cent firmer.
The positive tone across the markets follows reports that top US and Chinese officials see progress being made in resolving concerns around the Phase 1 trade deal reached between the two countries in January.
At 09.26 am, BSE flagship Sensex was up 150 points or 0.39 per cent at 38,949 while NSE benchmark Nifty added 45 points or 0.39 per cent to 11,511. Banks, metal and auto saw buying while IT and media stocks were under pressure.
In the 30-share pack Sensex, IndusInd Bank was the biggest gainer, up 2.08 per cent at Rs 540.10. It was followed by SBI, Axis Bank, Bajaj Finance, ICICI Bank and M&M that gained in the range of 1-2 per cent.
Nestle India was the biggest loser, down 0.94 per cent to Rs 16,380. HCL Technologies, UltraTech Cement, Bajaj Auto and Sun Pharma were among other top losers in the pack, down up to a per cent.
Broader market indices were faring better than their headline peers as Nifty Smallcap added 1.10 per cent while Nifty Midcap climbed 0.90 per cent. Broadest index on NSE, Nifty 500 was up 0.56 per cent.
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Nifty PSU Bank was the biggest sectoral gainer on NSE, rising 1.31 per cent. It was followed by Nifty Auto, Nifty Financial Service and Nifty Bank gains of about a per cent. Nifty IT was down 0.13 per cent.
Globally, Asia's stock markets were mostly higher as investors cheered signs of progress in US-China trade negotiations and following a fresh Wall Street rally.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.32 per cent to its highest since early January and sits just a fraction below a two-year high.
Japan's Nikkei was trading 1.5 per cent higher and banking stocks led Australia's S&P/ASX 200 up 0.58 per cent.
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The Hang Seng Index in Hong Kong was an outlier in early trade, slipping 0.27 per cent while the Shanghai Composite was 0.15 per cent firmer.
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