Market Update: Sensex, Nifty50 in green as private banks, financials and metals surge
The Sensex jumped almost 1000 points and the Nifty50 is back above the 17100-mark intraday, as private banks, financial services and metals propel the surge in the market.
Snapping two days fall, the Indian markets have been trading in the green on Tuesday. The Sensex jumped almost 1000 points and the Nifty50 is back above the 17100-mark intraday, as private banks, financial services and metals propel the surge in the market.
The surge in the banking and financial stocks during Tuesday’s session was perhaps because of the Reserve Bank of India’s monetary policy meet decision that is slated on Wednesday. The experts are divided that the central bank may either maintain the status quo or increase the benchmark rates.
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At around 01:22 pm, the BSE Sensex gained over 952 points or 1.68 per cent to 57699, while the Nifty50 surged over 233 points or 1.38 per cent to 17146 intraday. Trailing the benchmarks, even broader markets witness strength intraday today as both mid and small-cap indices up around 1 per cent.
An important contributor to the Nifty50’s surge, the Nifty Bank jumped 783 points or 2.19 per cent to 36518-level at around 01:30 pm, led by Kotak Bank and ICICI Bank.
As many as 45 stocks are in the green and 5 are in the red on the Nifty50 intraday today. Tech Mahindra gained most by over 4 per cent, followed by Hindalco up over 3 per cent. While Wipro, HDFC, Infosys each gained between 2-2.5 per cent intraday today.
On the contrary, Bajaj Auto becomes the biggest loser in otherwise positive market down around 3 per cent, followed by Tata Steel fell nearly 1 per cent intraday today. Hero Moto, Axis Bank, NTPC each slipped marginally in strong market intraday today.
All sectoral indices are in the green, with Nifty Bank, Financial Services, Metal each gained over 2 per cent intraday today, followed by followed by FMCG and Auto sectors. Similarly, Media and Realty stocks on the NSE are powering the surge in the broader markets intraday today.
02:25 PM IST