Sensex Surges Over 200 Points, Nifty Above 11,000

NDTV Profit Team

25 Sep 2018, 11:16 AM IST

Stock Market on Tuesday: MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.2%.

The domestic equity markets swung between gains and losses on Tuesday ahead of the scheduled meeting of the Finance Minister Arun Jaitley with the chiefs of public sector banks. In early trade, the S&P BSE Sensex fell 240.92 points to 36,064.10 and Nifty50 lost 84.55 points to touch its day's low at 10,882.85 level. However, by 11 am, the markets recouped their losses to firmly trade in the green. At 11:03 am, the 30-share Sensex traded at 36,538.25, up 233.23 points or 0.64 per cent and the 50-share Nifty was at 11,026.45, with a gain of 59.05 points or 0.54 per cent.

The top five Sensex gainers were Yes Bank, Axis Bank, Sun Pharma, Asian Paints and Maruti Suzuki, which were up between 2.47 per cent - 4.13 per cent.

Twenty eight out of 50 Nifty stocks gained in trade.

Barring Nifty Realty index, all sectoral indices of the NSE traded in the green, led by pharma, banks, auto and IT stocks.

Mr Jaitley will meet the heads of public sector banks to review their performance and take stock of the sector reeling under non-performing assets and scams.
The Reserve Bank of India said on Monday that it would buy Rs 10,000 crore ($1.38 billion) of government bonds in an open market operation, amid efforts by authorities to reassure investors over a brewing debt crisis in the non-banking financial sector (NBFC).

On Monday, foreign portfolio investors sold net equities of Rs 523.94 crore while domestic institutional investors purchased net shares of Rs 1,527.67 crore, according to provisional data from the NSE. The Sensex had closed at 36,841.60 after falling 536.58 points and the Nifty at 10,967.40, down 175.70 points.

Meanwhile, Asia stocks struggled on Tuesday as a fresh round of US-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth, according to a report by news agency Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.2 per cent. But Japan's Nikkei bucked the trend and edged up nearly 0.2 per cent. (With agencies inputs)