Private Banks Help Sensex, Nifty Recoup Monday’s Losses
A financial trader monitors data on computer screens on the trading floor. (Photographer: Jasper Juinen/Bloomberg)

Private Banks Help Sensex, Nifty Recoup Monday’s Losses

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Closing Bell: Sensex, Nifty End Higher

Indian equity benchmarks ended higher and recovered from yesterday’s losses.

The S&P BSE Sensex ended 0.62 percent or 238.69 points higher at 38,9839.22 and the NSE Nifty 50 ended at 11,671.95, up 0.58 percent. The broader market index represented by the NSE Nifty 500 Index ended 0.45 percent higher.

The market breath, however, was tilted in favour of sellers.

Ten out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty PSU Bank Index’s 1.4 percent gain. On the flipside, the NSE Nifty Media Index was the only sectoral loser, down 0.2 percent.

Private Banks Help Sensex, Nifty Recoup Monday’s Losses

Stocks Moving On heavy Volumes

Linde India

  • Stock rose as much as 10 percent to Rs 516.05.
  • Trading volume was more than eight times its 20-day average.

Lakshmi Vilas Bank

  • Stock fell as much as 5 percent to Rs 92.55.
  • Trading volume was more than five times its 20-day average.

Firstsource Solutions

  • Stock rose as much as 6.7 percent to Rs 51.90.
  • Trading volume was more than five times its 20-day average.

Coromandel International

  • Stock fell as much as 5.1 percent to Rs 434.20.
  • Trading volume was more than four times its 20-day average.

Europe’s Stocks Edge Higher Amid Lack of Trade Deal

European shares fluctuated, amid a lasting deadlock on Brexit, and weakness on Wall Street amid scant detail on the U.S. and China finalising a trade pact.

Private Banks Help Sensex, Nifty Recoup Monday’s Losses

Tech Mahindra To Acquire Stake In Infotek Software

Tech Mahindra Ltd.’s board approved acquisition of 18 percent stake in Infotek Software for Rs 13 crore, according to its stock exchange filing.

Shares of the company rose 0.9 percent to Rs 794.25 after the announcement.

Sterlite Technologies At Over 20-Month Low

Shares of Sterlite Technologies fell as much as 12.6 percent to trade at over a 12-month low at Rs 188.70.

Moody’s Investors Service withdrew Sterlite Technologies’ B1 corporate family rating and the stable outlook on the rating, according its statement. Moody’s said that it had decided to withdraw the rating for its own business reasons.

Trading volume was almost triple its 20-day average, Bloomberg data showed. The Relative Strength Index was below 30, indicating that the stock may be oversold.

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