Stock Tips: Sensex rise 100 pts; PSU Bank Index soars

Equity indices trade with a positive bias. PSU Bank index gains 3 percent in the late morning deals. Tuesday’s gains were led by ICICI Bank, State Bank of India, HDFC, HDFC Bank and Axis Bank.

At 11:15 AM, the BSE Sensex was trading at 34,010, up 92.82 points, while the NSE Nifty50 index was trading at 10,453.45, up 32.05 points. The BSE Mid-cap and the BSE Small-cap indices rose 0.79 percent and 1.02 percent, respectively.

Shares of Tata Consultancy Services (TCS) fell 5.02 % on the NSE after the promoter Tata Sons sold 1.5 percent stake in IT major via block deals.

Shares of Bank of India rose 9.99% on the back of recovery of Rs. 7000 cr from other banks.

In economic front, Consumer Price Index or retail inflation eased to 4.44 percent in the month of February 2018, from 5.05 percent in January 2018. Industrial output widened 7.5 percent in January, up from 7.1 percent in December.

Hindustan Petroleum Corporation (+4.46%), Wipro (+1.69%), Bharat Petroleum Corpn  (+3.40%), Infratel (+1.7%) and Sun Pharma (+1.99%) were the top gainers on Nifty50 during the time On the other hand TCS (-4.99%), NTPC (-1.72%), Coal India (-1.56%) Maruti Suzuki (-0.75%) and Zee Entertainment (-0.74%) were the top losers on Nifty 50, in today’s trade.

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