Sensex up almost 175 points, set to end on firm note
- by Emilio Sims
- in Money
- — Mar 29, 2017
The Sensex has touched a high of 29,442.18 points and a low of 29,301.22 points during the intra-day trade.
At the closing bell, Nifty ended at 9106, with gain of 61 points and BSE Sensex closed at 29409, an increase of 172 points.
Market gave a poor account of itself as the Sensex tumbled over 184 points on Monday (March 27) to end at 29,237, with heavyweight RIL struggling in the wake of the Sebi ban, which barred the company from equity derivatives trading for one year.
MUMBAI The rupee hit a almost 1-1/2 year high against the dollar on Monday, tracking gains in Asian currencies after U.S. President Donald Trump's failure to pass a healthcare reform bill raised concerns about the chances of a U.S. fiscal stimulus.
Indian shares rebounded on Tuesday after falling notably in the previous session amid uncertain US policy outlook and forecasts of a weak monsoon this year. In Europe, most shares slipped.
The top five gainers on Nifty were Eicher Motors, which went up almost 4%, Axis Bank (+3.5%), Tata Motors (+3%), Zee Entertainment Enterprises Limited (+2.7%) and Tata Power (+2.18%).
Indian markets bounced back on Tuesday snapping earlier losses.
"Both global and domestic factors are riding the market today", said Vinod Nair, head of research at Geojit Financial Services. Infratel, Idea, Aurobindo Pharma, HCL Tech and Axis Bank are among the gainers, whereas Tech Mahindra, ONGC, Gail, Coal India, Hero MotoCorp and ITC are losing on the NSE. "The European indices like FTSE 100, CAC 40 and DAX too traded lower". Axis Bank came on the top, rallying 3.23 percent after the private bank informed the bourses that it has raised senior notes in the global market. Dishman Pharmaceuticals and Chemicals soared 20 percent after the company received approval from the U.S.
Aurobindo Pharma surged 1.40 per cent as the company received final approval from the U.S. health regulator for injections used for the treatment of skin infections.
Major players that supported the recovery were Axis Bank, Sun Pharma, Tata Motors, Wipro, HDFC Ltd, Asian Paints, NTPC and ICICI Bank, gaining by up to 1.96 per cent. The market breadth turned positive as 1,448 stocks ended higher, 1,391 lower and 215 ruled steady. FPIs purchased shares worth Rs 577.88 crore on Monday, as per provisional data.
