Markets continued to register a positive upward force on Tuesday following the gains in the late afternoon trade with BSE Sensex closing higher by 115.27 points at 33,370.63, while the NSE Nifty 50 gained 33.20 points to close at 10,245.00 ahead of the starting of RBI’s first bi-monthly policy meeting in the fiscal 2019 starting tomorrow.
PSU Banking stocks gain 1.65 percent as Reserve bank allows banks to spread bond trading losses. Shares of Bank of Baroda rose 2.80%, Union Bank (+2%), BOI (+2.95%), SBI (+1.95%), however, Punjab National Bank lose 0.83% at Rs. 95.80, on NSE.
Nifty IT Index down 0.72 percent. Shares of Tech Mahindra were down (-3.80%), Wipro (-1.86%), HCL Tech (-1.12%).Mindtree (-1.01%)
Motherson Sumi System Limited signs agreement to acquire Reydel Automotive Group for USD 201 million from Cerberus effective on which it’s stock surged to the extent of 4.5%, but at closing hours it ended up +2.77% at Rs. 332.35, on NSE.
Shares of Tata Communication gained 2.17% at Rs. 651.70 on partnership with Mahanagar Gas, while shares of Galaxy Surfactants Limited plunged below issue price after USFDA issues 13 observations for its plants. Stock of Galaxy Surfactants went down 2.62% at Rs. 1,453.00 on NSE.
Top five Nifty Gainers on NSE: IndiaBulls HF (+4.59), ICICI Bank (+3.19), Mahindra and Mahindra (+2.93), Bajaj Finserv (+2.78), Hindustan Petroleum (+2.53).
On the Other hand, TechMahindra (-3.80%), Wipro (-1.86%), Hilando (-1.61%), Titan Company (-1.57%) and ONGC (-1.47%) were major losers on NSE.
Shares of ICICI Securities are scheduled to get listed on NSE and BSE on Wednesday, 4 April 2018. The IPO was opened for subscription between March 22 and March 26. ICICI Securities had fixed a price band of Rs.519-520 per share.