Bharat Forge climbed 3 percent.
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IT, consumer durables, healthcare and oil and gas stocks cut a sorry figure as investors preferred to stay light on positions ahead of the RBI review.
It’s a positive start for Indian stocks Tuesday morning, with investors tracking gains in global markets on the back of positive comments about the USA economy by the Federal Reserve chair Janet Yellen and that rate hikes would be gradual. The market breadth on BSE was positive in the ratio of 866: 482, while 66 scrips remained unchanged.
The 30-scrip Sensitive Index (Sensex) provisionally ended 10.99 points or 0.04 percent up. The mid-cap index was higher by 0.52 percent and small-cap stocks were up by 0.89 percent.
Those which lost were Bharti Airtel (2.62 per cent), Lupin (2.08 per cent), Maruti Suzuki (2.01 per cent), Sun Pharma (1.67 per cent), Axis Bank (1.60 per cent), Hero MotoCorp (1.42 per cent) and Coal India (1 per cent).
Nearly all the sectors were trading in green.
During the meeting, finance ministry officials highlighted the reform initiatives of the government which include new bankruptcy code, creation of interest rate setting monetary policy committee and amendments to the Debt Recovery Tribunal (DRT) and Sarfesi Acts. The Central Bank also retained the growth projection at 7.6% for FY17 citing corporate profits and surge in consumption.
The Nifty is trading at 8,225.30 points in the morning. There were 29 stocks advancing against 22 stocks declining on the index.
However, Tata Motors, M&M, GAIL, Cipla, ITC and BHEL rose by up to 1.51 per cent.
State Bank of India, the country’s biggest lender, jumped over 4 per cent and was the top Nifty50 gainer, followed by private lender ICICI Bank.
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Among the Asian markets, Japan’s Nikkei was up by 0.93 per cent, while China’s Shanghai Composite Index ended lower by 0.32 per cent and Hong Kong’s Hang Seng ended lower by 0.14 per cent.
