Sensex, Nifty climb almost 1% on positive global cues

Sensex surges over 300 points, Nifty climbs above 10300 ahead of IIP, inflation data

Healthy macro-economic data, along with healthy buying in banking, consumer durables, oil and gas and healthcare stocks lifted the key Indian equity indices during the mid-afternoon trade session on Tuesday. Yes Bank rose 1.85% to emerge as the biggest gainer among Sensex scrips.

The 30-share BSE Sensex was down 21.04 points at 33,835.74 and the 50-share NSE Nifty declined down 16 points to 10,410.90.

The Sensex has so far touched a high of 34,077.32 points and a low of 33,790.09 points during the intra-day trade.

European markets recoup opening losses to trade mildly higher. The S&P 500 Index rose on Friday and the Nasdaq Composite Index soared to a fresh record high after United States non-farm payrolls data topped forecasts. All PSU Banks are in the green except PNB which is trading at 97.50 (-0.5%).

RBI yesterday barred banks from issuing guarantees in the form of letters of undertaking (LoU) as it clamped down on the import financing route used by fugitive jeweller Nirav Modi and his uncle Mehul Choksi for allegedly committing India's biggest bank fraud.

However, oil major ONGC dropped by 1.53 per cent after crude prices surged.

YES Bank, SBI, ICICI Bank, and Maruti Suzuki India helped the BSE Sensex pare morning losses.

The losers were Coal India by 2.46 pc to Rs 297.20, SBIN by 1.34 pc to Rs 249.75, Tata MotorsDVR by 0.80 pc to Rs 191.05 and Powergrid by 0.46 pc to Rs 193.95.

Gitanjali Gems cracked 4.90% to Rs 13.60 after National Stock Exchange (NSE) levied penalty on the company for failure to file financial results for quarter ending December. Auto, pharma, metal, and FMCG stocks were the laggards on the bourses. "Broad market indices like the BSE mid-cap and small-cap indices gained less, thereby underperforming the main indices", Jasani added.

In Asia, Hong Kong's Hang Seng was down 0.16 per cent, Japan's Nikkei fell 0.16 per cent and China's Shanghai Composite index slipped 0.17 per cent in early trade. France CAC, Germany DAX, and Britain FTSE are up 0.3 percent each.



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