Market Recovers from Early Loss, Nifty Bank Outperforms
Indian shares rebounded from early losses to end higher in volatile trade on Tuesday, with banking stocks leading the gains. The Sensex closed at 38,939.22, up by 238.69 points, whereas NSE’s Nifty50 ended the day at 11,671.95, up by 67.45 points on Tuesday. Nifty Bank which advanced 30,113 level to close with gains of 268 points or 0.90 %, with Yes Bank, ICICI Bank and RBL Bank as index toppers Among the top Nifty gainers were Yes Bank, Tata Motors, Wipro, Coal India and ICICI Bank. On the flip side, IndiaBulls-HF, Asian Paint, Bharti Airtel, Infosys and UPL were the losers. Among index heavy weights stocks, ITC and ICICI Bank contributed the most to Sensex gains while Infosys and Asian Paints were the biggest draggers. IT stocks also ended higher for the day with Nifty IT index reached at 16,121.60, up 0.58% with major gains in Wipro and HCL Technologies. Among leading stocks, Yes Bank gained 4.50% after the bank under proposal to raise funds via equity. Shares of ITI rose over 5.32% after reporting a 20% increase in FY19 turnover. Asian Paints fell 3.11% after CLSA downgraded the stock to SELL from OUTPERFORM. Read the full article









