Key indices ended sharply higher amid good buying support in private sector banks and oil sector stocks. The barometer index, the S&P BSE Sensex, rose 331.27 points or 0.95% to 35,144.26, as per the provisional closing data. The Nifty 50 index rose 100.30 points or 0.96% to 10,582.50, as per the provisional closing data. The Sensex ended above 35,000 mark after regaining that level in mid-afternoon trade.
Among secondary barometers, the BSE Mid-Cap index rose 0.39%. The BSE Small-Cap index rose 0.19%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1324 shares rose and 1288 shares fell. A total of 148 shares were unchanged.
Coal India rose 0.72%. The company's consolidated net profit jumped 732.73% to Rs 3084.70 crore on 26.28% rise in total income to Rs 24209.33 crore in Q2 September 2018 over Q2 September 2017. The announcement was made after market hours yesterday, 12 November 2018.
Tata Motors fell 3.55%. Tata Motors Group global wholesales in October 2018, including Jaguar Land Rover, were at 1,09,597 units, higher by 6%, as compared to October 2017. The announcement was made after market hours yesterday, 12 November 2018.
Most private sector banks rose. ICICI Bank (up 2.67%), Axis Bank (up 2.11%), RBL Bank (up 1.69%), Yes Bank (up 1.35%), Kotak Mahindra Bank (up 0.65%), HDFC Bank (up 0.34%) and City Union Bank (up 0.27%), edged higher. IndusInd Bank (down 0.39%) and Federal Bank (down 1.31%), edged lower.
Public secor banks were mixed. Allahabad Bank (down 10.1%), Bank of India (down 7.16%), Andhra Bank (down 2.71%), Central Bank of India (down 1.26%), UCO Bank (down 0.99%), IDBI Bank (down 0.75%), Vijaya Bank (down 0.71%), Dena Bank (down 0.59%), Bank of Baroda (down 0.5%) and Syndicate Bank (down 0.43%), edged lower. State Bank of India (up 0.09%), Punjab & Sind Bank (up 0.17%), Indian Bank (up 0.27%), Corporation Bank (up 0.92%), Bank of Maharashtra (up 1.38%), Union Bank of India (up 1.72%), Canara Bank (up 2.1%) and United Bank of India (up 3.76%), edged higher.
On the economic front, India's industrial production grew 4.5% in September compared with the upward revised 4.7% in August, data released by the statistics office showed. August growth had initially been estimated at 4.3%.
Inflation as measured by the Consumer Price Index stood at 3.31% in October compared to 3.70% in September, showed government data released on Monday.
Overseas, European equity markets opened higher on Tuesday, following a pullback in stocks stateside. Investors are keeping a close eye on oil prices, after new comments from President Donald Trump. He said that the group of oil producers OPEC should not cut supply to prop up the market.
Asian shares ended mixed on the back of US stocks closing sharply lower Monday. In US, the Dow Jones Industrial Average tumbled 600 points as crude oil prices extended their retreat while a firmer US dollar also sparked worries about the competitiveness of US corporations in an increasingly challenging economic environment.
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