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Sensex ends 185 pts higher, RIL up 3.5%, SBI 2%
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SME Times News Bureau | 19 Nov, 2019
Sensex and Nifty closed nearly
0.50 per cent higher on Tuesday led by index heavyweights. Reliance
Industries gained 3.59 per cent, State Bank of India nearly 2 per cent
and HDFC Bank by 1 per cent.
A total of 26 of the Nifty 50
stocks ended lower as against 24 which advanced. Sharp gains were seen
in telecom and PSU Bank stocks.
The Sensex closed 185.51 points
or 0.46 per cent higher at 40,469.70 after flip-flopping between the
high of 40,544.13 and a low of 40,290.21.
The Nifty also added 55.60 points or 0.47 per cent to end at 11,940.10.
Bharti
Airtel advanced by 8.66 per cent to Rs 444 apiece on the NSE, while
Vodafone Idea zoomed up by 38.20 per cent to Rs 6.15 a share. Gains in
the telecom stocks came after reassuring statements from the government
on the crises faced by the sector.
"We have seen a rapid move in
the sentiment into the telecom sector from extreme pessimism to frenzy
buying especially for Vodafone Idea and Bharti Airtel," said Santosh
Meena, Senior Analyst, TradingBells.
"..Everyone on the street
was worried about the huge loss posted by the telcos after the Supreme
court verdict on AGR issue but the market took this as 'worst is over'
scenario," Meena added.
Nifty PSU index ended nearly 4 per cent
higher over investors renewed confidence in the sector after the SC
order in the Essar Steel case last week.
Oriental Bank of
Commerce, up 20 per cent and Syndicate Bank, up 13 per cent. Central
Bank of India gained over 7 per cent followed by Union Bank, J&K
Bank, up in the range of 7 to 10 per cent. PNB and SBI advanced in the
range of 1 to 3 per cent.
This comes after the Supreme Court last
week cleared the way for global steel giant ArcelorMittal's Rs 42,000
crore acquisition of debt-laden Essar Steel, after a two-year-long legal
battle that tested India's bankruptcy law.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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