Sensex, Nifty start on positive note ahead of F&O expiry
Business | May 30, 2019 9:55 ISTElsewhere in Asia, bourses in China, Japan and Korea were trading on a negative note in their respective early sessions.
Elsewhere in Asia, bourses in China, Japan and Korea were trading on a negative note in their respective early sessions.
FII sold equity worth Rs 501.11 crore on Tuesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 269.22 crore, provisional data available with stock exchanges showed.
Market mood has been euphoric since the BJP-led National Democratic Alliance (NDA) won the general elections.
The market is witnessing a board-based rally expecting better outlook for the economy in the next one-two quarter, experts said.
In the previous session, the BSE Sensex surged over 1,000 points to touch the 40,000-mark for the first time ever following the BJP's stellar electoral show, but could not sustain the momentum as investors chose to cash in on the gains.
Meanwhile, market regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election-related events lined up.
Tracking significant gains in the markets on Monday, as many as 66 stocks touched their 52-week high levels on the BSE. Some of the stocks that touched 52-week highs include Bajaj Finance, DCB Bank, Federal Bank, HDFC Bank, ICICI Bank, SRF, Titan, Kotak Mahindra Bank and PVR. Of the total scrips traded, 1,998 advanced, 631 declined and 184 remained unchanged.
Meanwhile, market regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election-related events lined up.
In the previous session on Thursday, the BSE bourse closed 278.60 points, or 0.75 per cent, higher at 37,393.48.
Elsewhere in Asia, bourses were trading significantly lower after the near collapse of trade talks with China last week.
RIL, Tata Motors, HDFC twins, Axis Bank, Bharti Airtel, ICICI Bank and TCS were the top gainers, rising up to 1.04 per cent.
In the previous session on Monday, the BSE bourse settled at 38,600.34, down 362.92 points or 0.93 per cent. The broader NSE Nifty ended the day at 11,598.25, losing 114 points or 0.97 per cent.
In the previous session, the BSE bourse settled 50.12 points, or 0.13 per cent, lower at 38,981.43; and the broader Nifty slipped 23.40 points, or 0.20 per cent, to close at 11,724.75.
The gainers in the lot include HCL Tech, HDFC Bank, Asian Paints, Infosys, Hindustan Uniliver, Axis Bank and ONGC.
Top losers in the Sensex pack included Tata Steel, Vedanta, Maruti, SBI, Coal India, Tata Motors, Sun Pharma, HUL, RIL, IndusInd Bank, Axis Bank, HDFC duo, ICICI Bank, M&M, Kotak Bank, and Infosys, falling up to 2.89 per cent.
On Wednesday, Sensex had ended above the psychological mark of 39,000 after it gained sharply during the end of the trade session post last three days fall, the Nifty had begun the session on a positive note and then consolidated in course of the day's trading.
In the previous session Thursday, the BSE bourse settled 135.36 points, or 0.34 per cent, lower at 39,140.28.
After hitting a lifetime high (intra-day) of 39,487.45, the 30-share index was trading 136.38 points or 0.35 per cent higher at 39,412.02.
According to Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, Q4FY19 earnings season will remain crucial for further upside in the market.
According to Rajesh Gopinathan, chief executive officer and managing director at TCS, this is the strongest revenue growth that the firm have had in the last fifteen quarters.
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