Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
2-min read

Sensex Rises For 2nd Day; Banks Rally On RBI Breather

The Sensex Tuesday resumed lower and slipped further to hit a low of 33,153.83 on a bearish trend in other Asian markets, tracking overnight losses at the Wall Street on weakness in technology shares and trade tension between the US and China.


Updated:April 3, 2018, 5:57 PM IST
Sensex Rises For 2nd Day; Banks Rally On RBI Breather
Representational Image.

Mumbai: Indian equities after trading range-bound for a better part of Tuesday's session finally ended higher, with banking shares leading the way after the RBI allowed lenders to spread provisions for bond losses over the next four quarters.

Both benchmark indices Sensex and Nifty managed to close higher for the second straight session following a fag-end rush for buying stocks. The 30-share Sensex ended with a gain of 115.27 points and the broader Nifty closed 33.20 points higher.

Besides banks, auto, PSU and power stocks led the rally on bourses, despite weak global cues. Banking shares gained after the Reserve Bank allowed lenders to spread provisions for bond losses in the third and fourth quarters of the previous fiscal over the next four quarters.

Also, the appreciating rupee against the US dollar supported the market uptrend. "Market traded range-bound throughout the day due to volatility in the global market. But towards the close, pace picked up supported by moderation in yield and growth in core sector. Yield declined amid central bank allowing the banks to spread their bond trading losses which gave a positive sentiment to banking stocks...," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.

Investors are gradually shifting focus to upcoming Q4 results and RBI policy outcome which will dictate the market outlook in the near term, he added. The Sensex Tuesday resumed lower and slipped further to hit a low of 33,153.83 on a bearish trend in other Asian markets, tracking overnight losses at the Wall Street on weakness in technology shares and trade tension between the US and China.

Later towards the fag-end, it staged a comeback to recover losses to scale a day's high of 33,402.94, before settling 115.27 points, or 0.35 percent, higher at 33,370.63. The gauge had gained 286.68 points in the first session of the new fiscal on Monday.

The 50-share Nifty after moving between 10,171.05 and 10,255.35 on alternate bouts of selling and buying, concluded 33.20 points, or 0.33 percent, higher at 10,245. Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 413.16 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 689.75 crore on Monday, provisional data released by the stock exchanges showed.

Shares of Bank of India rose 3.11 percent, followed by Syndicate Bank 2.75 percent, Bank of Baroda 2.29 percent, Indian Bank 2.44 percent, UCO Bank 1.60 percent, State Bank of India 1.60 percent and Bank of Maharashtra 1.82 per cent on the BSE. Other gainers were Power Grid 1.93 percent, Bharti Airtel 1.83 percent, Tata Motors 1.34 percent, Reliance Industries 0.68 percent, Asian Paints 0.64 per cent and Sun Pharma 0.48 percent.

Other banks like Yes Bank, IndusInd Bank, Axis Bank and Kotak Bank also ended in the positive zone, rising by up to 2.11 percent. Among the losers were: Wipro 2.02 percent, ONGC 1.28 percent, Adani Ports 0.86 per cent, HDFC Bank 0.74 percent, Bajaj Auto 0.60 percent, NTPC 0.47 percent and L&T 0.46 percent on profit-booking.

In the BSE sectoral pool, power index stayed on top, up 1.57 percent, followed by infrastructure by 1.17 percent, PSU by 1.11 percent, bankex by 1.08 percent, auto by 0.85 percent, healthcare by 0.67 percent, oil and gas 0.62 percent, metal 0.49 percent and realty 0.48 percent. Broader markets beat the benchmarks, with the small-cap index firming up 1.35 percent and mid-cap 0.92 percent.

In Asia, Japan's Nikkei was down 0.45 percent and Shanghai's Composite Index shed 0.84 percent, while Hong Kong's Hang Seng gained 0.29 percent. In the eurozone, Frankfurt's DAX fell 1.41 percent, while Paris CAC shed 0.85 percent in early deals. London's FTSE down 0.72 percent.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Tarun Bhardwaj
Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
Indiabulls Hsg 550.75 -0.11
HDFC 2,100.00 -0.84
Reliance 1,278.00 -0.80
Yes Bank 79.45 3.79
HDFC Bank 2,227.70 -0.08
Company Price Change %Gain
SBI 290.95 0.38
Indiabulls Hsg 551.10 -0.04
Yes Bank 79.45 3.79
Maruti Suzuki 5,975.15 2.74
SpiceJet 143.50 3.02
Top Gainers
Company Price Change %Gain
UPL 549.05 4.14
Yes Bank 79.45 3.79
Power Grid Corp 211.15 2.92
Maruti Suzuki 5,975.05 2.73
IndusInd Bank 1,439.10 2.73
Company Price Change %Gain
Yes Bank 79.45 3.79
Power Grid Corp 211.25 2.85
Maruti Suzuki 5,975.15 2.74
IndusInd Bank 1,438.25 2.70
Axis Bank 675.55 1.86
Top Losers
Company Price Change %Gain
TCS 2,165.10 -1.78
Vedanta 144.40 -1.47
HCL Tech 1,062.75 -1.25
BPCL 351.20 -0.92
HDFC 2,100.00 -0.84
Company Price Change %Gain
TCS 2,163.50 -1.87
Vedanta 144.30 -1.54
HCL Tech 1,061.65 -1.37
HDFC 2,098.75 -0.91
Reliance 1,277.40 -0.85

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results