Nifty reclaims 10,850 mark; IndusInd Bank, Yes Bank stocks down

The rally was led by Infosys, Reliance Industries, HDFC twins, Axis Bank, and TCS.

Jan 09, 2019 04:01 IST India Infoline News Service

Equity benchmark indices extended their rally for the fourth consecutive session in Wednesday’s trade. Today’s rally was led by Infosys, Reliance Industries, HDFC twins, Axis Bank, and TCS.

The Sensex was up 208 points at 36,189, while the Nifty rose 58 points at 10,859. The market breadth was positive with 993 shares advancing, 501 shares declining, and 552 remaining unchanged.

The Indian rupee opened higher 15 paise to 70.05 against the greenback.

All sectoral indices were trading higher on the NSE. Media, metal, IT, and auto were up ~1% each.

IndusInd Bank stock slipped in morning trade ahead of Q3 results. The bank may post a decline in profits on yoy basis due to provisions for the IL&FS exposure.

Shares of Tata Motors rose 1% on the back of strong JLR sales for the month of December.

Infosys, Axis Bank, Tata Motors, UPL, and Sun Pharma were the top gainers on the Nifty50, while Infratel, Tata Steel, Yes Bank, IndusInd Bank, and SBI were trading in the red.

Volatility index India VIX is down 2.34 % to 15.33.

The most active stocks were Infosys, Axis Bank, Yes Bank, Grasim, SBI, and RCom.

Elsewhere, Asian stocks rallied following gains in the US amid optimism on the potential for progress in trade talks between Washington and Beijing.

The S&P 500 jumped to a three-week high on Tuesday, led by Apple, Amazon, Facebook and industrial shares on bets that the United States and China would strike a deal to end their trade war.

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