Sensex ends 91 points higher; Nifty settles at 10402

11 April, 2018, 12:27 | Author: Terri Saunders
  • Sensex closes 25 points higher Nifty holds 10,400 level banking oil & gas stocks sink

The signs of easing global trade war concerns made investors more confident about taking positions. Nifty however, managed to finish above the 10,400-milestone.

Global oil prices remained elevated, after steep gains in the previous session.

Optimism about the upcoming earnings season also supported markets.

The Sensex opened higher and went further to hit a high of 33,949.98 and finally settled 91.71 points, or 0.27 per cent, higher at 33,880.25.

Persistent capital inflows by domestic institutional investors and retail investors kept the market in fine nick, analysts said.

On Tuesday, foreign institutional investors sold scrips worth Rs 684.99 crore, while the domestic institutional investors purchased stocks worth Rs 653.65 crore, provisional data with the exchanges showed. The Street has been consolidating on the positive sentiment of investors since mid last week and the Sensex has gained more than 1,000 points in the period.

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Axis Bank soared as much as 5.4 percent after its board accepted managing director and CEO Shikha Sharma's request to shorten her tenure to December 31, 2018.

In contrast, Tata Motors, M&M, Hero MotoCorp, HDFC Bank, IndusInd Bank, HDFC Ltd, Kotak Bank, Sun Pharma, Dr Reddy's, NTPC, Maruti Suzuki and Bajaj Auto ended in the negative terrain largely on profit-booking. Balrampur Chini Mills surged 4.8 percent and Bajaj Hindusthan jumped nearly 7 percent. Today's opening can be termed as flat, as the fall in the market indices was marginal, with the overall outlook looking positive.

SBI gained about 1 percent after launching its United Kingdom subsidiary.

ICICI Bank rallied 2.8 percent to extend gains despite doubts about the strength of its corporate governance practices.

Australian stocks were down 0.25 per cent and Japan's Nikkei dipped 0.1 per cent.

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