Sensex gains by almost 300 points; Vinati Organics zooms by 10 per cent, BEL slips
On Tuesday, the markets experienced sideways improvement with active gains in the broader markets. Sensex closed at 39,044.35, gaining by 287.72 points or 0.74 per cent while Nifty rose by 81.75 points or 0.71 per cent to close at 11,521.80.
Banking and pharma indices contributed the most towards market gains but the rally continued in small-cap more than in mid-cap across diverse sectors.
The shares of ADF Foods hit its upper circuit during Tuesday’s trading session after the ace investor Ashish Kacholia bought 1,48,871 shares of the company through a bulk deal.
Market reports say that Chemcon Speciality Chemicals Pvt Ltd is expected to launch its initial public offering on September 21, 2020.
In the global markets, Asian indices such as Shanghai index, Hang Seng, and KOSPI gained by 0.51 per cent, 0.38 per cent, and 0.65 per cent, respectively. As investors are getting ready for the new government to be formed later this week, profit booking was seen in Japanese markets after the three-day rally. Meanwhile, Nikkei closed down by 0.44 per cent.
Indices in the European markets such as FTSE 100, Dax, and CAC 40 were seen trading higher by 0.85 per cent, 0.22 per cent, and 0.24 per cent, respectively.
The Indian rupee ended with losses in today's session despite positivity in equity markets. The rupee ended at 73.64 against the US dollar as compared to Monday's close of 73.48.
Sensex gainers consists of IndusInd Bank that went up by 4.03 per cent, Bharti Airtel rose by 2.33 per cent, Axis Bank gained by 2.17 per cent, Bajaj Finance increased by 2.15 per cent, ICICI Bank jumped 2.14 per cent, Sun Pharmaceutical Industries increased by 2.07 per cent, etc.
Sensex losers included Titan Company, which went down by 1.20 per cent, Maruti Suzuki fell by 1.02 per cent, ITC declined by 0.85 per cent, Asian Paints decreased by 0.67 per cent, Mahindra & Mahindra fell by 0.35 per cent, HCL Technologies plunged by 0.31 per cent, Bajaj Auto decreased by 0.29 per cent, etc.
Amongst sectoral indices on BSE, Healthcare index gained by 1.93 per cent, Telecom index was up by 1.94 per cent, Bankex gained by 1.73 per cent while Finance index closed up by 1.37 per cent. BSE Realty index was the only index to close in red, down by 0.58 per cent.
BSE Small-Cap index gained by 1.44 per cent and BSE Mid-Cap index rose by 0.85 per cent.