HDFC Bank, RIL help Sensex settle 478 pts higher; Nifty ends at 11,385

All that happened in the markets today

An across-the-board buying helped the benchmark indices settle with over a per cent gains on Tuesday. The S&P BSE Sensex rallied 478 points or 1.26 per cent to settle at 38,528 levels while NSE's Nifty closed the session at 11,385 levels, up 138 points or 1.23 per cent. India VIX declined over 4 per cent to 20.43 levels.

HDFC Bank, Reliance Industries (RIL), ICICI Bank, and Infosys contributed the most to the Sensex's gains. UltraTech Cement (up over 3 per cent) was the top gainer on the index while Tech Mahindra (down over 1 per cent) was the biggest loser. 

In the broader market, the S&P BSE MidCap index gained over 1 per cent to 14,656.68 levels while the S&P BSE SmallCap index gained 1.3 per cent to 14,154 points. 

Global markets 

European shares slipped on Tuesday as simmering political tensions between the United States and China escalated, while concerns over a deadlock on further US fiscal stimulus drove the dollar towards a two-year low against its rivals.

US stock futures were down 0.2 per cent, pointing to a weaker start on Wall Street and inching back slightly after tech stocks had pushed sister index the Nasdaq to a record high on Monday.

In commodities, oil prices steadied, hanging on to gains from the previous session thanks to high compliance with production cuts from members of the OPEC+ producer group. 

(With inputs from Reuters)

3:44 PM

Nifty sectoral indices at close

3:39 PM

Heatmap: Sensex gainers and losers at close

3:38 PM

SENSEX AT CLOSE

3:36 PM

Markets at close

Sensex ends 478 points, or 1.26 per cent, higher at 38,528, and the Nifty50 index ends at 11,385, up 138 points, or 1.23 per cent.

3:35 PM

AGR Case :: How did R.Comm claim to have assets of over Rs 35K cr, whereas now the fair value is just a little over Rs 10K cr?, observes SC

3:34 PM

AGR Case :: Only at the stage of resolution applicant seeking DOT nod, will the issue of spectrum sale under IBC will arise, says Salve

3:32 PM

DLF, Sunteck: Realty stocks up on hope of improvement in consumer sentiment

A common theme among the brokerages regarding realty companies is the possible consolidation where bigger companies will be able to ride the storm and gain market share at the expense of smaller players. HDFC Securities, for instance, sees DLF, Prestige Estate, and Brigade Enterprises doing well in the residential segment. READ MORE

3:25 PM

AGR Case :: By recognizing spectrum as security, DoT has acknowledged that spectrum can be assigned, says Salve

>> PSBs would only be lend if security is allowed that can be monetised

3:24 PM

Peoples Bank of China among 357 investors to acquire stake in ICICI Bank

The government had in April notified new norms for FDI investments by neighbouring countries which would require approvals. It is not clear if portfolio investments need to go through some vetting process or the government will continue with this open route till the time no FDI approval is required. READ MORE

3:19 PM

Gujarat aims for the skies, approves 70+ floor buildings in 5 cities

The government said skyscrapers would show the state’s mettle in infrastructure. With the construction of the skyscrapers, the state’s urban infrastructure will be able to accommodate the rising population and generate more employment for the dwellers. READ MORE

3:13 PM

Sensex Heatmap at this hour

3:13 PM

Recovery from intra-day lows in today's session

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
BIRLASOFT LTD	150.20	177.80	173.25	15.35
PNB HOUSING	241.20	270.60	265.80	10.20
DLF	145.30	159.60	158.60	9.15
IIFL FINANCE	71.00	80.85	77.00	8.45

3:06 PM

Nifty Bank index rises nearly 500 pts

3:02 PM

AGR Case :: Govt has allowed sale of spectrum under DoT's trading guidelines, says Salve

>> Trading guidelines require DoT nod for sale of spectrum, not seeking to bypass DoT nod

2:58 PM

MARKET CHECK:: Sensex extends gains, up 500 pts now