Sensex, Nifty Close Higher For Third Day In A Row: 10 Things To Know
- The Sensex ended 130Â points - or 0.4 per cent - higher at 35,980, while the Nifty finished at 10,802, up 30 points from the previous close.
- Top gainers on the 50-scrip benchmark index were Sun Pharma, ICICI Bank, State Bank of India (SBI), Tata Motors and Yes Bank, closing between 2.5 per cent and 4.2 per cent higher.
- The Nifty Bank and Nifty PSU Bank - sectoral indices on the NSE comprising banking and state-run banking stocks - settled 0.8 per cent and 2.8 per cent higher respectively.
- The government on Monday said it estimated GDP growth at 7.2 per cent for 2018-19, a notch lower from the central bank's projection of 7.4 per cent. Most private economists have lowered the country's growth forecast to around 7 per cent for the current fiscal year, citing weakening consumption and slowdown in credit offtake.
- Reserve Bank of India Governor Shaktikanta Das said the central bank will ensure that there is enough liquidity in the system to meet the needs of the economy. He also said the RBI is yet to decide on whether to pay an interim dividend to the government.
- Analysts suspected some profit booking during Tuesday's session. "We see a bit of caution ahead of the start of another earnings season," news agency Reuters quoted Siddhartha Khemka, head of retail research at Motilal Oswal Securities, as saying.
- Tata Consultancy Services will kick off the earnings season by reporting its results for the October-December period on Thursday. Another IT major Infosys will report its quarterly performance the next day.
- Shares in Jet Airways closed 0.3 per cent lower, as the cash-strapped airline met a group of lenders including State Bank of India (SBI). The airline wants to use falling crude oil prices to assure banks and improve its cash flows.
- Vedanta shares finished 1.1 per cent higher, after the Supreme Court cleared the way for the company to reopen its copper smelter in Tamil Nadu by refusing to stay an order from the country's environmental court.
- Shares of Bandhan Bank and Gruh Finance closed 3.68 per cent and 16.60 per cent lower respectively, a day after the private sector bank announced acquisition of the mortgage provider in a share-swap deal.
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