Sensex up over 200 points, Nifty holds 11,000; metals surge
Shares began the day on another strong note, with the Nifty hitting a fresh milestone of 11,000 in the first few minutes of trade. The Sensex gained over 100 points.
At 09:16 hrs IST, the Sensex is up 134.91 points or 0.38% at 35932.92, and the Nifty up 43.00 points or 0.39% at 11009.20. The market breadth was positive as 523 shares advanced, against a decline of 246 shares, while 152 shares are unchanged.
Axis Bank gained around 2 percent on the back of its December quarter performance.
BHEL, Coal India, IOC and Yes Bank gained the most, while Hero MotoCorp, Asian Paints, HUL, and Zee Entertainment were the top losers.
The Indian rupee opened lower at 63.90 per dollar on Tuesday versus previous close 63.87.
"Any rally around or move above 64 is meeting with customer selling. For today, expect a range of 63.70-63.90 to hold."
Shares of Axis Bank gained 2 percent intraday on Tuesday as investors cheered the bank’s December quarter financial performance.
The bank’s earnings beat analyst expectations, with improvement in asset quality performance.
Profit during the quarter grew by 25.3 percent year-on-year to Rs 726.4 crore despite fall in other income & operating income, driven by lower provisions and higher net interest income.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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