ICICI Bank, Axis Bank and Bajaj Finance were the biggest boosts to Sensex
Domestic stock markets trimmed most of intraday gains on Tuesday but managed to close higher for a third day in a row. The NSE Nifty 50 index rose as much as 0.52 per cent during the session to its best level recorded since late February, and the S&P BSE Sensex benchmark climbed up 0.54 per cent to 39,008.89. A drop in heavyweights Reliance Industries and HDFC Bank countered hopes around US-China trade talks and potential coronavirus treatments.
The Sensex ended 44.80 points – or 0.12 per cent – higher at 38,843.88, and the Nifty settled at 11,478.65, up 12.20 points – or 0.11 per cent – from its previous close.
SBI, ICICI Bank and Bajaj Finance were the biggest boosts to Sensex. However, the gains were capped owing to weakness in Reliance Industries, Infosys and Larsen & Toubro.
Meanwhile, analysts awaited the release of official data on the country’s GDP due next week for more clarity on the damage caused by the coronavirus pandemic.
Tata Motors was the top Nifty gainer, the stock rose 5 per cent 128. Bajaj Finance, State Bank of India, Tech Mahindra, Eicher Motors, Asian Paints, Bajaj Finserv and IndusInd Bank were also among the gainers.
On the flipside, GAIL, NTPC, Sun Pharma, Tata Steel, Dr Reddy’s Labs, Shree Cements and Nestle India were among the top losers.
The overall market breadth was negative as 1,462 shares closed lower while 1,355 ended higher on the BSE.
