Nifty hovers around 10,750 mark; ICICI Bank leads
Benchmark indices were trading higher led by ICICI Bank, ITC, Reliance Industries and Axis Bank.
Benchmark equity indices opened higher on Tuesday. The gains were led by banking stocks, with ICICI Bank trading more than 6.5% higher. Consumer durables and pharma stocks also rose.
At 11:11 AM, the BSE Sensex was trading at 35,291, up 87 points, while the Nifty50 index was trading at 10,731, up 15 points.
On the sectoral front, financials and pharmaceuticals are trading in the green. The Nifty IT index is down by 0.54%.
In the broader market, the BSE Midcap was marginally higher by 0.01%, while the BSE Smallcap was up 0.15%.
ICICI Bank (+6.5%), Cipla (+1.6%), ITC (+1.3%), Eicher (+1.1%) and Dr.Reddy’s (+1%) were the top gainers on Nifty50.
IndusInd Bank (-1.7%), Kotak Mahindra Bank (-1.3%), M&M (-1.2%), Hindalco (-1.1%) and Infosys (-1.1%) were the top losers in today’s trade.
Out of 2,025 stocks traded on the NSE, 955 advanced, 566 declined and 504 remained unchanged today.
On the global front, crude oil prices stood near their highest since late 2014 on Tuesday, ahead of an announcement by US President Donald Trump on whether he would withdraw from a landmark nuclear deal with Iran, which fueled concerns about crude supply.
Meanwhile, the rupee traded in the range of 67.20-67.14 against dollar in morning deals. It had closed at a 15-month low of 67.13 against the US dollar on Monday.