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MARKETS LIVE 1: Todays Sensex up 100 pts expected for tomorrow

MARKETS LIVE: Sensex up 100 pts; Nifty tests 11,650; PSU Bank shares gain

EVENT HIGHLIGHTS

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The benchmark indices pared losses to trade higher, with PSU Bank stocks lifting the indices.

At 12:20 PM, the S&P was trading at 38,744, up 100 points, or 0.26 per cent, with the highest contribution by Reliance Industries, ITC, Infosys, ICICI Bank, and Bajaj Finance. The broader Nifty50 was ruling at 11,626, up 32 points, or 0.28 per cent.

Among sectoral indices, Media index was the top gainer, up 1.60 per cent while PSU Bank index had also inched 1.33 per cent higher.

In the broader market, the S&P MidCap index was trading 50 points higher at 15,199.01, while the S&P SmallCap index was trading at 14,837.34, up 33 points, or 0.22 per cent.
 
BUZZING STOCKS


Bharti Airtel shares were quoting firm, up 1 per cent, at Rs 325 on the BSE in early morning deal as the stock turns ex-date for rights issue today (on Tuesday). READ MORE

Shares of Avenue Supermarts were trading lower for the seventh straight day, down 2 per cent, at Rs 1,304, to hit five-month low on the BSE on concerns of flat operating margin in the March quarter (Q4FY19). READ MORE

Shares of HEG hit a 52-week low of Rs 1,839, down 5 per cent on Tuesday as institutional investors reduced their stake in the company in the March quarter. The stock has fallen 9 per cent in past two days. READ MORE

Global cues

Asian shares were little changed on Tuesday, with concerns China may slow the pace of policy easing curbing the market’s enthusiasm. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan’s Nikkei average eased 0.2 per cent.

The US stocks ended almost flat during the overnight trade on Monday ahead of Q4 results by major companies including Amazon, Boeing and Facebook. The S&P500 ended 2.4 points or 0.1 per cent higher at 2,908. Dow Jones ended 48 points or 0.18 percent lower at 26,511 and Nasdaq inched 17 points or 0.22 per cent up at 8,015.

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