NEW DELHI: Optimism over in-line earnings of blue-chip companies boosted equity benchmarks Sensex and Nifty for the third consecutive day on Tuesday.
Healthy buying across sectors in the wake of a fresh rise in the rupee against the dollar and a cool-off in crude oil prices helped market sentiment. The rupee traded 20 paise higher at 73.62 around 4:10 pm even as oil prices eased on expectations of an increase in US crude inventories.
The 30-share Sensex jumped 297 points, or 0.85, to 35,162, with 21 stocks in the green, while NSEs Nifty50 finished 72 points, or 0.69 per cent, higher at 10,584.
The BSE Midcap (up 1.14 per cent) and Smallcap (up 1.68 per cent) indices outperformed benchmark Sensex.
Lets walk you through the highlights of the day's proceedings:
Sensex movers & shakers
M&M jumped 4 per cent to lead Sensex gainers, followed by Adani Ports and ONGC, each rising over 3 per cent. State Bank of India, ICICI Bank, Axis Bank and Reliance Industries rose over 2 per cent each. HDFC Bank, Bajaj Auto, Maruti Suzuki, Infosys and IndusInd Bank were the top five index losers, falling between 0.37 per cent to 0.77 per cent.
New MD gives ICICI Bank big lift
Shares of private lender ICICI Bank jumped after Reserve Bank of India (RBI) approved the appointment of Sandeep Bakhshi as MD & CEO. In a BSE filing, the bank said RBI has given its nod for Bakhshis appointment for three years with effect from October 15, 2018. ICICI Bank's former MD and CEO Chanda Kochhar quit the post on October 4, six months before her current tenure were to end.
Aviation stocks flew high
Shares of most aviation companies surged amid a fresh fall in global crude oil prices on expectations of an increase in the US crude inventories. Shares of Jet Airways (up 8.41 per cent), IndiGo (up 5.68 per cent), Global Vectra Helicorp (up 4.93 per cent) and SpiceJet (up 4.24 per cent) clocked decent gains.
Top 10 gainers on BSE
Rupa & Co (up 20 per cent), Sprayking Agro Equipment (up 20 per cent), Ruby Mills (up 20 per cent), SPML Infra (up 19.96 per cent), GTPL Hathway (up 19.96 per cent), Mindteck (India) (up 19.95 per cent), Mangalam Timber Products (up 19.90 per cent), North Eastern Carrying Corporation (up 19.80 per cent), Choice International (up 19.75 per cent) and Energy Development Company (up 19.68 per cent) were among the top gainers on BSE.
67 stocks in the oversold zone
Momentum oscillator Relative Strength Index, or RSI, showed 67 stocks in the oversold zone on BSE. Adlabs Entertainment, Bombay Dyeing, K Miles Software, Indosolar, Amsons Apparels, Jackson Investments and Crescent Leasing entered the oversold territory, while Ashari Agencies, Jai Mata Glass, Mishtann Foods, Rama Paper Mills, Abans Enterprises and Sportking India were among the 30 stocks that entered the overbought zone.
371 stocks showed bullish crossovers
Momentum indicator moving average convergence divergence, or MACD, showed 371 stocks had completed a bullish crossover, signalling their readiness to rally. Among them were Ashok Leyland, Jain Irrigation, IDFC Bank, HDIL, NBCC (India), Havells India and HPCL. Meanwhile, 15 stocks showed bearish crossovers, which included GRM Overseas, Lesha Industries, Frontline Securities, Bayer Cropscience, Parnax Lab and Duncan Engineering.
100 stocks defied market trend
As many as 117 stocks, including Crisil, Kwality, Rajesh Exports, 8K Miles Software Services, Adlabs Entertainment, Ashapura Intimates Fashion, Arihant Foundations & Housing, Essel Propack and Greenply Industries, defied market sentiment to dive and touch 52-week lows on BSE. On the other hand, 39 stocks, including Atul, Coastal Corporation, Crown Tours, Dalal Street Investments, HEG and Grandeur Products, hit 52-week highs.
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