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Sensex gains 150 pts, Nifty rises to 10,785; YES Bank, Reliance Industries, Infosys top gainers

YES Bank (2.87%), Reliance Industries (1.35%) and Infosys (1.27%) were the top Sensex gainers.

Sensex gains 150 pts, Nifty rises to 10,785; YES Bank, Reliance Industries, Infosys top gainers

The Sensex and Nifty opened higher in trade today led by gains in banking and oil and gas stocks. While the Sensex rose 150.44  pts to 36,004 Nifty gained 48 pts to 10,785. Of 30 Sensex stocks, 27 were trading in the green.

YES Bank (2.87%), Reliance Industries (1.35%) and Infosys (1.27%) were the top Sensex gainers. Top Sensex losers were Bharti Airtel (0.51%), HCL Tech (0.34%) and HDFC (0.11%).

On Monday, after a volatile session, the 30-share index settled 156.28 points, or 0.43 per cent, down at 35,853.56, while the broader NSE Nifty fell 57.35 points, or 0.53 per cent, to finish at 10,737.60.

Meanwhile, the mid cap and small cap indices were trading 83 points and 88 points higher in early trade. Market breadth was positive with 994 stocks trading higher compared to 330 falling on the BSE.

Banking stocks led the gains with the BSE bankex rising 206 points to 30,755.

Information technology index also gained 193 pts to 14,254.

The Indian rupee opened higher by 16 paise at 70.77 per dollar on Tuesday versus previous close 70.93.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 732.46 crore on Monday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 527.49 crore, provisional data available with BSE showed.

The ICICI Securities stock was trading lower in early trade after the investment services arm of ICICI Group reported a 34.3 per cent decline in consolidated profit to Rs 101.1 crore for the third quarter ended December 31.

In comparison, the company's profit stood at Rs 153.9 crore in the October-December quarter of 2017-18. The stock fell 4.08% or 11 points to 264.70 on the BSE.

The Tata Metaliks stock was trading 1.56% lower to 627 level after the firm said its profit after tax (PAT) fell by 1.78 per cent to Rs 39.63 crore during the quarter ended December 31, 2018.

The company clocked Rs 40.35-crore PAT during the corresponding quarter in the financial year 2017-18, Tata Metaliks said.

Its total income stood at Rs 547.63 crore, higher as compared to Rs 490 crore in October-December 2017.

Global markets

Asian markets bounced back from slight early losses on Tuesday after senior economic officials said Beijing will cut taxes and keep monetary policy flexible to help weather China's slowdown.

Japan's Nikkei 225 index, reopening after a market holiday, added 0.9 percent to 20,544.64. The Kospi in South Korea jumped 1.5 percent to 2,095.58. Hong Kong's Hang Seng rebounded 1.9 percent to 26,793.29. It closed 1.4 percent lower on Monday. The Shanghai Composite index was up 1.0 percent at 2,560.17 and Australia's S&P ASX 200 rose 0.5 percent to 5,801.40. Shares rose in Taiwan, Singapore and Indonesia but fell in the Philippines.

Stocks took small losses Monday after China reported a drop in exports in December, but the market didn't come close to matching the plunges it took in the last few months.

On Monday the S&P 500 fell 13.65 points, or 0.5 percent, to 2,582.61. The Dow Jones Industrial Average fell 230 points Monday morning, but finished with a loss of 86.11 points, or 0.4 percent, to 23,909.84.

The Nasdaq composite retreated 65.56 points, or 0.9 percent, to 6,905.92. The Russell 2000 index of smaller-company stocks shed 14.57 points, or 1 percent, to 1,432.81.

Edited by Aseem Thapliyal

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