Sensex snaps three-day losing run; HDFC twins shine
The Hindu
Equity benchmark index Sensex ended a three-session losing streak to close nearly 450 points higher on Tuesday, helped by intense buying in index majors HDFC twins, ICICI Bank and Axis Bank amid a mixed trend in the global markets.
Equity benchmark index Sensex ended a three-session losing streak to close nearly 450 points higher on Tuesday, helped by intense buying in index majors HDFC twins, ICICI Bank and Axis Bank amid a mixed trend in the global markets.
Besides, a firm trend in financial, realty, teck and IT counters also supported the domestic equities, traders said.
The 30-share BSE Sensex jumped 446.03 points or 0.71% to settle at 63,416.03 points. During the day, it advanced 497.54 points or 0.79% to 63,467.54 points.
NSE Nifty climbed 126.20 points or 0.68% to end at 18,817.40 points.
"Short covering ahead of Wednesday's F&O expiry may have triggered a sharp rebound in key benchmark indices despite a lacklustre trend in Asian and European indices.
"Investors have once again bet big on India's sound economic fundamentals by latching to banking and realty shares and shrugged off negative catalysts like hawkish Fed, mounting Chinese growth concerns, Russian crisis and erratic monsoon so far," said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.
State Bank of India was the best performer in the Sensex chart, rising 1.59 per cent, followed by HDFC, Axis Bank, HDFC Bank, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, NTPC and Bajaj Finserv.
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