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Sensex recovers 190 points, Nifty above 10,500

Benchmark Indices Pared All Early Losses To End With Robust Gains Tuesday As Investors Shrugged Off Urjit Patel’s Shock Exit From The RBI And Dismissed Jitters Over State Election Results.

PTI | Updated on: 11 Dec 2018, 04:05:49 PM
Sensex recovers 190 points, Nifty above 10,500


Benchmark indices pared all early losses to end with robust gains Tuesday as investors shrugged off Urjit Patel’s shock exit from the RBI and dismissed jitters over state election results. The 30-share Sensex climbed 190.29 points, or 0.54 per cent, to end at 35,150.01, after falling over 500 points during the day. Similarly, the broader NSE Nifty rose 60.70 points, or 0.58 per cent, to 10,549.15. The Sensex had plunged 714 points Monday in its worst session in two months on pre-poll jitters.

Top gainers that led the recovery included Yes Bank, Sun Pharma, Asian Paints, SBI, Axis Bank, ITC, M&M, Kotak Bank, Coal India, TCS and ONGC, rising up to 7 per cent.

Also read | Rupee plunges 110 paise to 72.42 per US dollar in early trade

Meanwhile, top losers were Hero MotoCorp, Bharti Airtel, HDFC Bank, L&T and HUL, falling up to 1.58 per cent.

The rupee pared some early losses after Finance Secretary A N Jha said the government was likely to make an announcement regarding Urjit Patel’s successor as RBI governor.

The currency had plummeted 110 paise after Patel’s unexpected resignation Monday. It was trading at 71.81 per US dollar, down 49 paise.

Meanwhile, the Congress was leading in the BJP-ruled states of Rajasthan and Chhattisgarh and was locked in a close fight in Madhya Pradesh while the TRS forged ahead in Telangana and the MNF in Mizoram, trends indicated on Tuesday as votes for elections in the five states were counted.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 116.22 crore Monday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 145.80 crore, provisional data available with BSE showed. Brent crude oil futures slipped below USD 60 per barrel mark, slipping 0.32 per cent to 59.78 per barrel.

Also read | Bonanza for govt employees, Centre's contribution to NPS raised to 14% , withdrawal made tax free

Elsewhere in Asia, Korea’s Kospi fell 0.04 per cent, Japan’s Nikkei dropped 0.34 per cent; while, Hong Kong’s Hang Seng rose 0.07 per cent and Shanghai Composite Index gained 0.37 per cent.

In Europe, Frankfurt’s DAX jumped 0.86 per cent and Paris’ CAC 40 rose 0.84 per cent in early deals. London’s FTSE too gained 0.37 per cent.

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First Published : 11 Dec 2018, 04:05:30 PM