Nifty Extend Gains As RBI Decides To Transfer Surplus To Govt
Closing Bell: Nifty Extend Gains As RBI Decides To Transfer Surplus To Govt
The broader Nifty rose 47 points to 11,105 levels. The headline index nifty settled higher for a third straight session on Tuesday led by gains in Tata Motors, Tata Steel, NTPC, IndusInd Bank and Vedanta amid easing tension in the China-US trade war. Markets have also gained on the back of the Reserve Bank of India (RBI) decided to transfer a surplus of Rs 1.76 lakh crore to the government.
Sectoral indices were mixed for the day. The PSU Bank index rose the most, up 2.5 percent followed by Nifty Metal, Nifty Auto and Nifty Realty. However, Nifty IT declined 1.3 percent on the rising rupee. Nifty Pharma and Nifty Media indices also fell around 0.2 percent each.
Tata Motors was top gainer in the Nifty 50 basket of shares, the stock rose ~9 percent to close at Rs. 120.35. Britannia Industries, Britannia, Ultratech Cement, UPL, and IndusInd Bank were also among the gainers. On the flipside, Bharti Airtel, India bulls Housing Finance, Infosys, Tech Mahindra and Grasim Industries were among the losers.
Market Update: Nifty off day’s high; PSU bank, auto, metal stocks rally
The broader NSE Nifty was up 0.30% at 11,091 on Tuesday. The headline index nifty were trading at below day’s high in Tuesday’s afternoon session, with gains in public sector bank, auto, and metal stocks lifting the indices.
Almost all the Nifty sectoral indices were trading in the green. Nifty PSU Bank gained the most 2.1 per cent while Nifty IT index, down 1.25 per cent, weakend on the account of the Rupee opening higher against the US dollar.
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