Domestic Equity Market has shown a positive sign on Tuesday led by gains in banks and financial services stocks. Investors followed 'sell on rally, buy on dip' approach. Net Selling of FII/FPI was at Rs.108.24 crore while net selling of DII was at Rs.529.69 crore. The Sensex gained 280.15 points, or 0.56 percent to 50,051.44 levels with shares of Ultratech Cement, IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI, Reliance were the gainers with having gains of 3.06%, 2.28%, 2.25%,2.11%, 2.06%,2.02%, 1.48%, 1.32% respectively while shares of ONGC, Powergrid, ITC, NTPC, Mahindra & Mahindra, HDFC, HUL, Kotak Bank were the losers with a loss of 2.28%, 1.97%, 1.70%, 1.14%, 1.05%, 0.99%, 0.63%, 0.60% respectively. The Nifty ended at 14,814.75, up 78.35 points, or 0.53 percent with Indexes like Bank, Realty, Pharma, Auto, IT, Energy were the gainers with having gains of 1.73%, 1.05%, 0.48%, 0.47%,0.27%, 0.07% whereas Metal, FMCG, Media Indexes were the losers with having loss of 0.66%, 0.39%, 0.29% respectively.
TOP STOCKS IN NEWSCAST:
IndusInd Bank surged over 2% as Moody's has upgraded its outlook for IndusInd Bank from "negative" to "stable", citing the Indian private lender’s improvement in funding and capital.
HDFC Bank rose over 2% as Brokerage firm Jefferies has given a ‘buy’ rating for HDFC Bank, stating that the momentum on client acquisition is buoyant despite COVID-19 and will help grow through cross-sells.
Axis Bank gained 2% as Private sector lender Axis Bank has revised interest rates on fixed deposits (FDs).The Bank offers FDs across different tenures, ranging from 7 days to 10 years.
Reliance surged over 1 % as Reliance Jio is expected to launch a 5G Smartphone and laptop at its annual general meeting (AGM).