INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Stocks closed in green for third straight day on Tuesday even as market players turned cautious ahead of start of December
A solid start in European markets on hopes that Washington and Beijing are closer to a trade deal, coupled with rejuvenated Italian bank
stocks, buoyed sentiment back home
Otherwise, most Asian shares were knocked off by a shock profit warning from technology giant Samsung.
In a session that was marked by high
volatility, bank stocks were lead index gainers, with ICICI Bank contributing to over 50 per cent of Sensex's upmove.
The 30-share index
settled higher by 131 points, or 0.36 per cent, at 35,981 while its NSE counterpart Nifty rose 30 points, or 0.28 per cent, to close day at
10,802.
In Sensex bloc, 16 advanced and 14 declined
Sun Pharma turned out to be lead hitter, up 3.98 per cent
ICICI Bank, SBI, YES Bank, Tata Motors and Axis Bank were among other gainers, climbing up to 3.46 per cent.
ICICI Bank shares scaled fresh
52-week highs of Rs 381.60 in intraday trade today.
In 50-share Nifty pack, 24 stocks ended in green while 26 lost.
Midcap stocks
underperformed benchmark Sensex and slipped 0.16 per cent whereas BSE Smallcap index advanced 0.17 per cent.
Telecom, bankex and healthcare
were among top sectoral gainers
Meanwhile, utilities, capital goods and realty stocks declined
What all factors moved Sensex today
1
Trade woes easeThe optimism over possibility of a truce between US and China on trade front helped market edge higher for third straight
US President Donald Trump on Sunday had said talks were going very well, adding that weakness in Chinese economy has given Beijing a reason
to work towards a deal, Reuters reported
December agreed to a 90-day truce in a trade war that has roiled international markets
Firm start to European marketsEuropean shares hit a three-week high on Tuesday as hopes of a possible trade deal between China and US
offset worries over global growth and Italian banks rose after Rome moved in support of troubled lender Carige
However, Asia was knocked back by a shock profit warning from tech giant Samsung and uptick in borrowing costs
Eye on Q3 earningsThe domestic market witnessed some cautiousness in today's session ahead of start of December quarter earnings
remain cautiously optimistic on Indian markets in near term
The focus of investors would shift to Q3 FY19 earnings season and domestic macro data (IIP, CPI and WPI), which are likely to dictate trend
of market in coming sessions
Further, market participants would closely monitor progress of trade talks between US and China, behaviour of crude oil prices and
fluctuation in currency as it would further induce volatility in markets
We would advise investors to stay focused on select blue chip companies while traders should strictly hedge their leveraged
positions.
Satish Kumar, Senior Research Analyst, Choice Broking
Amid mixed global cues, domestic indices opened in red
However, it posted a strong comeback in afternoon session, driven by strong buying in cooperative banks and pharma stocks
Market continued its firm trade till its last session and closed up by around 0.3 per cent
Rupee depreciated sharply against dollar as crude prices continued to inch towards $60
Optimism over US-China trade will boost market sentiment in upcoming week
Since there are no major domestic events coming up this week, global cues will continue to influence domestic indices.
