Sensex rose 5.8% this year, against a 3.2% rise in Nifty; Axis Bank inclusion may blunt Sensex edge
YES Bank raises base rate; HDFC Bank, Axis hike deposit rates.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
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The broader Nifty, after touching a high (intra-day) of 10,555.50 points, finished at 10,539.75, up 84.80 points, or 0.81 per cent.
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
The NSE Nifty cracked below the 10,800-mark to hit a low of 10,753.05 intra-day, before closing at 10,762.45 with a loss of 59.40 points, or 0.55 per cent.
India's GDP for the three-month period ended September 30 grew 7.4%.
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The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
The progress on US debt ceiling talks, domestic inflation numbers and second quarter earnings of companies are expected to keep investors busy in the truncated trading week ahead.
The BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
The one common theme across companies that have rewarded shareholders is consumption.
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'We have seen a host of businesses across sectors generate economic value and wealth for investors.'
After two years of growth in the 4 per cent to 5 per cent range, the gross domestic product is expected to increase more robustly in 2015, growing to an expected 6.4 per cent.
Most of the index heavyweights are yet to declare their results.
Analysts expect the indices to dip further if the global macros do not stabilise
Analysts mostly prefer domestic plays beside select films with foreign exposure.
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
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The reason is believed to be a 19% increase in interest cost.
Investors have kept their eyes on US-China trade talks and are optimistic about a positive outcome.
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
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Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
The 30-share BSE Sensex closed down 162 points at 28,338 and the 50-share Nifty was down 67 points at 8,463.
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each.
The India Meteorological Department on Tuesday said the monsoon this year is expected to be 'above normal.'
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
Sensex in green in afternoon trade.
Budget in the medium term aims to kick-start the investment cycle.
Despite the rally, on the basis of valuations, Indian markets aren't too expensive, says Christopher Wood, managing director and equity strategist at CLSA.
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