Introduction
Indian shares rose on Tuesday, breaking a four-day losing streak and taking the Nifty 50 index above 18,000 for the first time since December. The broader NSE Nifty index closed 1.25% higher at 18,133.55 points after rising for two straight sessions for its biggest jump in nearly six weeks. Banking stocks led gains in the sector as ICICI Bank Ltd rose 6.9%, while State Bank of India gained 2.6%.
Indian shares snapped a four-day losing streak on Tuesday, rising for a second consecutive session and taking Nifty 50 back above the 18,000 level, as banking stocks rallied ahead of quarterly results.
Indian shares snapped a four-day losing streak on Tuesday, rising for a second consecutive session and taking Nifty 50 back above the 18,000 level, as banking stocks rallied ahead of quarterly results.
The broader NSE index ended 1.25% higher at 19,003 points during regular trade hours while the SENSEX gained 0.88%. The Sensex rose 1.22% in intra-day trading to close at 24891 points while BSE Sensex gained 1% to end at 2974 points after flirting with 30k mark earlier in the day
The NSE Nifty 50 index closed up 1.05% at 18,133.55 points, having gained 4.5% so far this month.
The NSE Nifty 50 index closed up 1.05% at 18,133.55 points, having gained 4.5% so far this month.
The benchmark Sensex rose 0.66% to 32,041 levels after closing flat on Friday as investors remained cautious ahead of the second quarter results from leading companies like IT major HCL Technologies and Tata Motors among others due later in the day on Sunday.
The benchmark was led by gains in the banking sector index, which rose 2.2%, while the broader NSE index closed 1.25% higher.
The benchmark was led by gains in the banking sector index, which rose 2.2%, while the broader NSE index closed 1.25% higher. The S&P BSE Sensex rose 0.53% to settle at 24,530 while the Nifty50 advanced to 18,065 from its previous close of 17,931 around 11:40 am IST
ICICI Bank Ltd rose 6.9%, while State Bank of India gained 2.6%.
ICICI Bank Ltd rose 6.9%, while State Bank of India gained 2.6%.
The Nifty 50 index closed up 1.05% at 18,133.55 points on Monday after a weak opening in which it lost 0.3%, as investors took profit on Friday’s rally that was sparked by a sharp decline in oil prices and concerns over trade tensions between China and the U.S., among others issues (read: Why do I feel so bearish about the stock market?).
The Sensex has gained 4.5% so far this month as compared with 3 per cent at the beginning of June which helped it end 2018 with an increase of almost 20 per cent from its lowest point during December last year when it settled at 36,694 points on December 31st 2017 (read: 10 stocks to buy now).
ndian shares rise; financials lead
Indian shares rose, as the banking and power sectors were among the top gainers.
The Nifty 50 index rose 2% on Monday to 18,060 from 17,835 it had touched on Friday. It has gained 4.5% so far this month while the Sensex is up 3%.
The broader NSE Bank index was up 2.2%, while its rival S&P BSE Retailer Index was up 1%.
Conclusion
The Nifty 50 index closed up 1.05%, having gained 4.5% so far this month, as ICICI Bank Ltd rose 6.9%, while State Bank of India gained 2.6%.
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