Share markets on Tuesday: Twenty out of 30 Sensex stocks finished the session higher.
Domestic stock markets closed on a positive note on Tuesday aided by sustained buying across pharma, FMCG and IT stocks, as investors await the outcome of assembly election results.
Bombay Stock Exchange (BSE) benchmark index Sensex settled at 35,150.01, up 190.29 points or 0.54 per cent from the previous close, and the Nifty50 barometer of the National Stock Exchange (NSE) gained 60.70 points or 0.58 per cent to end at 10,549.15.
Investors are now looking forward to the announcement of the government regarding the next Reserve Bank of India (RBI) governor - likely to be done later in the day.
Here are 10 things to know about Tuesday's trading session:Thirty eight out of 50 Nifty stocks closed in the positive zone, with Yes Bank being the top gainer on the index.
Shares of the lender settled 8.9 per cent higher.Other major gainers on the 50-scrip index Nifty were Sun Pharma (+6.22 per cent), Asian Paints (+3.82 per cent), Kotak Bank (+3.39 per cent) and Bajaj Finserv (+3.09 per cent).Twenty out of 30 Sensex stocks finished the session higher.
Yes Bank (+7.29 per cent), Sun Pharma (+5.75 per cent), Asian Paints (+4.03 per cent), SBI (+2.85 per cent), Axis Bank (+2.42 per cent) and ITC (+1.82 per cent)were the top advancers.The rupee pared some early losses and traded at at 71.81 per US dollar, down 49 paise, after Finance Secretary A N Jha said the government was likely to make an announcement regarding Urjit Patel's successor as RBI governor.
The local currency had plummeted 110 paise after his unexpected resignation on Monday.
.Mr Patel's resignation came after a month-long tussle over policy with the government that has raised concerns about the central bank's independence as a national election nears.According to Viral Berawala, CIO, Essel Mutual Fund, "Markets had already discounted the state election results on Monday and short covering was witnessed during the day leading to markets closing positive.
Among sectors, pharma and PSU banks saw a smart recovery".At the time of writing this report, Congress was leading in the BJP-ruled states of Rajasthan and Chhattisgarh and was locked in a close fight in Madhya Pradesh.Globally, Brent crude oil futures slipped below $60 per barrel mark, slipping 0.32 per cent to 59.78 per barrel.The benchmark 10-year bond yield was down 7 basis points on the day at 7.52 per cent after initially rising as high as 7.71 percent.On Monday, foreign portfolio investors (FPIs) bought net shares worth Rs 116.22 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 145.80 crore, provisional data available with BSE showed.
(With agencies inputs)For the latest News Live Updates on Election Results from each assembly constituency in Madhya Pradesh, Rajasthan, Mizoram, Chhattisgarh, Telangana, like us on Facebook or follow us on Twitter for updates.