Indian benchmark indices snapped two days losing streak and closed at two months high.
Post the sideways movement till the afternoon session Indian markets broke out in the concluding half an hour where Nifty and Sensex closed 0.65% up at 8289 and 26900 levels respectively.
Broader markets maintained out performance where mid cap and small cap indices closed 0.8% and 0.7% higher. Market bias remained positive with 1662 advances and 1151 declines.
NSE Nifty jumped 52.55 points to 8288.60, while BSE SENSEX surged 173.01 points to 26899.56.
BSE Metal and BSE Industrials were the top performers with the indices gaining by 1.42% and 1.57%.
PSU Bank Index gained impressively even as all sectoral indices close in green indicating a broad-based rally in markets today
BSE consumer durables and BSE Auto were the other sectoral index that gained more than 1% on Tuesday.
Tata motors, Adani Ports, Tata Steel, Asian Paints, HDFC Bank, GAIL, ICICI Bank and Hero moto Corps were the stocks that gained more than 1% in today’s session. Tata Motors and Adani Ports were the top performers clocking more than 3% gains each.
Nifty traded near 8294 levels and closed just below the crucial level at 8289. Nifty has managed to close above its 200 days EMA at 8242.
Going forward the immediate resistance at 8298-8300 levels remain intact which is also its 100 days EMA level. On the downside 8260 followed by 8228 will act as the immediate supports for now.
IndusInd bank: The stock traded volatile owing to the results declared on Tuesday. The other income was up by 21% at Rs 1,017 crore, Net profit is up by 29% and NII is up at 34% The Gross NPAs were up at 0.94% vs 0.90% (YoY)
MRF/ CEAT/ Apollo Tyres/ JK Tyres: Tyres stocks sizzled on bourses in the second half of the day closer to the market closing hour. The stocks gained in the range of 3.8% to 6%.
Tata Motors: The stock was the highest gainer in Sensex today.
BEL: The stock gained momentum once the reports came out of the stocks going to be split on January 27.
ABB: The stock was in news today as the company is expected to team up with Power grid for a project worth over 4350 Crore.
The rupee was trading at 68.18 against the US dollar.
The market breadth was in favour of advances. About 1658 shares advanced against 1142 declining shares on the Bombay Stock Exchange.
Top 5 Nifty Gainers: Tata Motors (3.24%), Adani Ports & Sez (3.09%), Tata Steel (2.12%), Asian Paints (1.72%) and HDFC Bank (1.68%).
Top 5 Nifty Losers: Axis Bank (-1.25%), Dr. Reddys Lab (-0.64%), ONGC (-0.50%), Lupin Ltd. (-0.49%) and NTPC (-0.43%)
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