MUMBAI: Indian equity market started the New Year on a good word, with BSE benchmark Sensex rising over 186 points on Tuesday because of banking shares rally following the Reserve Bank's feedback that the banking sector is on a recovery trail amid receding impaired property load.
The 30-share BSE Sensex closed at 36,254.57, rising 186.24 points or zero.52 in step with cent.
Similarly, the NSE Nifty ended at 10,910.10, gaining 47.55 points or zero.44 in step with cent.
Besides financials, stocks of telecom, IT, auto and pharma were in call for.
Leading the Sensex chart, Bharti Airtel stocks rose 2.76 in step with cent, adopted by way of HDFC (2.01 in step with cent) and Yes Bank (1.38 in step with cent).
Other gainers within the Sensex pack were HDFC Bank, SBI, Axis Bank, ICICI Bank, Infosys, Hero Motocorp, Tata Motors, SunPharma, Bajaj Finance, TCS, PowerGrid, ITC, Bajaj Auto, Maruti, Coal India, Larsen & Toubro and RIL - rising up to 1.three in step with cent.
Among the losers were Mahindra and Mahindra, Tata Steel, ONGC, HUL, IndusInd Bank, Kotak Mahindra Bank, NTPC, Asian Paints, Vedanta, HCL Tech - falling up to three.75 in step with cent.
Analysts attributed the upward thrust in banking shares to the Reserve Bank Governor Shaktikanta Das' remark that the banking sector is on "course to recovery" because the afflicting non-performing property recede.
The asset high quality of banks confirmed improvement with gross non-performing property' (GNPAs) ratio declining to 10.eight in step with cent in September 2018 from 11.five in step with cent in March 2018, the Reserve Bank of India (RBI) stated in its Financial Stability Report Monday.
Asian bourses are closed Tuesday because of the New Year.
The 30-share BSE Sensex closed at 36,254.57, rising 186.24 points or zero.52 in step with cent.
Similarly, the NSE Nifty ended at 10,910.10, gaining 47.55 points or zero.44 in step with cent.
Besides financials, stocks of telecom, IT, auto and pharma were in call for.
Leading the Sensex chart, Bharti Airtel stocks rose 2.76 in step with cent, adopted by way of HDFC (2.01 in step with cent) and Yes Bank (1.38 in step with cent).
Other gainers within the Sensex pack were HDFC Bank, SBI, Axis Bank, ICICI Bank, Infosys, Hero Motocorp, Tata Motors, SunPharma, Bajaj Finance, TCS, PowerGrid, ITC, Bajaj Auto, Maruti, Coal India, Larsen & Toubro and RIL - rising up to 1.three in step with cent.
Among the losers were Mahindra and Mahindra, Tata Steel, ONGC, HUL, IndusInd Bank, Kotak Mahindra Bank, NTPC, Asian Paints, Vedanta, HCL Tech - falling up to three.75 in step with cent.
Analysts attributed the upward thrust in banking shares to the Reserve Bank Governor Shaktikanta Das' remark that the banking sector is on "course to recovery" because the afflicting non-performing property recede.
The asset high quality of banks confirmed improvement with gross non-performing property' (GNPAs) ratio declining to 10.eight in step with cent in September 2018 from 11.five in step with cent in March 2018, the Reserve Bank of India (RBI) stated in its Financial Stability Report Monday.
Asian bourses are closed Tuesday because of the New Year.
Indian bourses begin 2019 on bullish note; Sensex soars 186 points
![Indian bourses begin 2019 on bullish note; Sensex soars 186 points]()
Reviewed by Kailash
on
January 01, 2019
Rating:
