Sensex closes 172 points higher while Nifty crosses 9,100 mark
Central Bank of India performed poorly on the BSE, while Eicher Motors surged on the NSE.
The markets closed on a positive note on Tuesday as the Bombay Stock Exchange Sensex was up 172.37 points ending at 29,409.52, and the National Stock Exchange Nifty easily crossed the 9,100-mark. The rise comes a day after the Asian markets fell over anxiety about United State President Donald Trump’s failure to replace Barack Obama’s Affordable Care Act.
Dishman Pharmaceuticals gained 46.35 points and ended at 278.20 points making it the top gainer on Sensex. Among the banking indices, Axis Bank led the bourse with a 3% jump followed by ICICI Bank (+1.26%) and HDFC (+2.01%). Central Bank of India performed poorly on the BSE and fell 3.76%, followed by Godrej properties (-3.49%) and JK Tyre (-3.25%).
Other BSE sectoral indices that performed well were power (+0.7%) and healthcare (0.66%). Meanwhile, the information technology and drug makers indices also recovered from the losses they experienced from the last two sessions. HCL Technologies was up 0.5% and Aurobindo Pharma Limited was up 1.36%. Bharti Infratel rose as much as 1.98% on Tuesday and Bharti Airtel surged 0.61%.
The top five gainers on Nifty were Eicher Motors, which went up nearly 4%, Axis Bank (+3.5%), Tata Motors (+3%), Zee Entertainment Enterprises Limited (+2.7%) and Tata Power (+2.18%). Tech Mahindra, Kotak Bank, ONGC, Coal India and Hero Motors were the top losers on the NSE.
The dollar rose on Tuesday after a four-month low, leaving the rupee to fall 34 paise to 65.06.
Analysts predict larger gains for India as the earnings season starts next month. “Markets are waiting for the results season. Structurally, we have got most of the reforms getting in place and things are positive on the political front,” Siddharth Sedani, vice president, equity advisory at Anand Rathi, said.