Sensex, Nifty tick higher on global cues; banking, finance stocks in demand
Equity indices ended higher on Tuesday as investors poured money into banking and finance counters amid a positive trend in global markets.
IndusInd Bank topped the gainers'chart on the Sensex, spurting 4.03 per cent, followed by Bharti Airtel, Axis Bank, Bajaj Finance, ICICI Bank, Sun Pharma, HDFC and Kotak Bank.
On the other hand, Titan, Maruti, ITC, Asian Paints, M&M, HCL Tech and Bajaj Auto were among the laggards, shedding up to 1.20 per cent.
Mid and small-cap stocks extended their gains as participants wagered on increased inflows into the segment following changes in asset classification norms for multi-cap mutual funds.
Global equities were buoyed by encouraging industrial output data from China, which also propelled yuan to a 16-month high.
The 30-share benchmark index ended at 39044.35 up by 287.72 points or by 0.74 % and then NSE Nifty was at 11521.8 up by 81.75 points or by 0.71 %.
Sensex touched intraday high of 39102.25 and intraday low of 38753.68 The NSE Nifty touched intraday high of 11535.95 and intraday low of 11442.25
Among the sectors, Bankex index was at 25541.57 up by 434.37 points or by 1.73%. IndusInd Bank Ltd. (Rs. 633.50,+4.03%), RBL Bank Ltd. (Rs. 185.35,+2.38%), Axis Bank Ltd. (Rs. 449.65,+2.17%), ICICI Bank Ltd. (Rs. 371.45,+2.14%), Federal Bank Ltd. (Rs. 54.25,+1.69%),.
Realty index was at 1749.55 down by -10.17 points or by -0.58%. Prestige Estates Projects Ltd. (Rs. 254.70,-3.72%), Sunteck Realty Ltd. (Rs. 277.00,-3.62%), Brigade Enterprises Ltd. (Rs. 170.50,-1.67%), Godrej Industries Ltd. (Rs. 896.35,-1.15%), Phoenix Mills Ltd. (Rs. 631.00,-1.13%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3190 , shares advanced were 1735 while 1263 shares declined and 192 were unchanged.
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