Markets extend rally; ONGC, Tech Mahindra, M&M surge over 3%

Markets extend rally; ONGC, Tech Mahindra, M&M surge over 3%

 All the sectoral indices on the NSE were trading in the green on Tuesday, with PSU Bank gaining over 2.5% and Private Bank over 1%.


Equity benchmark indices Sensex and Nifty extended gains in afternoon trade on Tuesday. The Sensex rose 278 points and was trading at 35,121 while the Nifty was trading 65 points higher at 10,587.

All the sectoral indices on the NSE were trading in the green on Tuesday, with PSU Bank gaining over 2.5% and Private Bank over 1%.


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Among stocks, ONGC, Tech Mahindra, and M&M advanced 3%, while SBI, Axis Bank, and ICICI Bank gained over 2% and led the gains in the banking indices. Indiabulls Housing Finance led the losers’ brigade with a decline of ~3%, with Cipla, Eicher Motors, and PowerGrid being the other top losers.

Real estate and hospitality company Delta Corp spiked 6% and Federal Bank ~8% after posting their second-quarter results. Both companies have reported numbers that are in line with estimates.

Shares of Jet Airways were trading up 5.5%, while those of InterGlobe Aviation and SpiceJet gained 5% and 3%, respectively, on the back of lowered global crude oil price.

The market breadth, meanwhile, was positive with 1,307 shares advancing, 416 shares declining, and 336 shares remaining unchanged on the NSE.


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What’s more, a total of 28 securities were trading at a 52-week high, while 71 securities were trading at their 52-week low.

Further, India Vix was down 7.65%, while Nifty mid-caps and small-caps were also trading up 1% in the green.

Moreover, the rupee showed marginal gains and was trading at 73.67 against the dollar after opening at 73.79.


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Reference : indiainfoline

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