Sensex, Nifty trade at six-month high on global cues; check what’s moving markets today

Out of 30 Sensex stocks, four IT stocks were trading in the red

Extending gains from the previous session, BSE Sensex and Nifty were trading at their six-month highs on Tuesday, taking cues from the firm global market. The 30-share Sensex was trading 140 points or 0.36 per cent higher at 38,938, while the Nifty 50 reclaimed 11,500 to trade at 11,505. Index heavyweights such as HDFC, ICICI Bank, HDFC Bank, State Bank of India (SBI), Bajaj Finance and Axis Bank were among the index contributors. “The markets have opened above the 11500 level which is a positive sign. As long as we trade above the 11300 zones, we are in a strong impulsive market. The bulls are clearly in charge. We should target 11700 as the next price point and there is a possibility that we achieve this target during the course of this week,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

IndusInd Bank, SBI top Sensex gainers: Among 30 Sensex stocks, 18 scrips were trading in the green. IndusInd Bank and SBI were top index gainers, up 2.74 per cent and 2.16 per cent, respectively. Bajaj Finance, ICICI Bank, Axis Bank, Bajaj Finserv were among other gainers, up over 1 per cent.

IT stocks fall: Out of 30 Sensex stocks, four IT stocks were trading in the red. HCL Tech was down 1.29 per cent, Tech Mahindra down 0.65 per cent, Infosys 0.26 per cent while TCS was down 0.24 per cent. Nestle India, UltraTech Cement, RIL were among other losers.

Nifty PSU Bank index up 2%: Trend among sectoral indices was positive with Nifty PSU Bank index up 2 per cent. Nifty Financial Services and Nifty Auto indices were also up nearly 1 per cent.

Broader market: The broader markets again outperformed the equity benchmarks. The S&P BSE MidCap was up 0.47 per cent or 71 points to trade at 15,089, while S&P BSE SmallCap was ruling at 14,933, up 0.53 per cent or 79 points.

Global market: Asian stock markets were trading mostly higher on Tuesday. Japan’ Nikkei was up 1.83 per cent while China’s Shanghai Composite was down 0.19 per cent. In overnight trade on Wall Street, S&P 500 and Nasdaq made a record closing. The Dow Jones Industrial Average rose 1.35 per cent, the S&P 500 gained 1 per cent, and the Nasdaq Composite added 0.6 per cent.

FII and DII data: On Monday, foreign institutional investors (FIIs) bought shares worth Rs 219.07 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 335.64 crore on a net basis, according to the provisional data available on the NSE.