At 13:28 IST, the barometer index, the S&P BSE Sensex, was up 440.41 points or 0.61% to 72,171.83. The Nifty 50 index added 142.25 points or 0.65% to 21,913.95.
In the broader market, the S&P BSE Mid-Cap added rose 0.62% and the S&P BSE Small-Cap index rose 0.99%.
The market breadth was positive. On the BSE, 2,234 shares rose and 1,559 shares fell. A total of 114 shares were unchanged.
Gainers & Losers:
Bharat Petroleum Corporation (up 4.27%), HDFC Life Insurance Company (up 3.82%), Maruti Suzuki India (up 3.77%), Tata Consultancy Services (up 3.64%) and HCL Technologies (up 3.63%) were major Nifty gainers.
Power Grid Corporation of India (down 3%), Indusind Bank (down 1.55%), Bajaj Finserv (down 1.54%), Britannia Industries (down 1.39%) and CIPLA (down 1.37%) were major Nifty losers.
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Stocks in Spotlight:
Ashok Leyland shed 0.47%. The company reported 60.51% jump in standalone net profit to Rs 580 crore in Q3 FY24 as compared with Rs 361.34 crore in Q3 FY23. Revenue from operations increased 2.69% to Rs 9,273 crore in Q3 FY24 as compared with Rs 9,026 crore posted corresponding quarter last year.
Yes Bank soared 10.66% after the bank announce that the Reserve Bank of India has granted approval to HDFC Bank for the acquisition of an aggregate holding of up to 9.50% of the paid-up share capital or voting rights of Yes Bank. However, if HDFC Bank fails to acquire a major shareholding within one year, the approval will be revoked.
BSE slipped 3.41% after the exchange platforms consolidated net profit fell 10.22% to 108.19 crore in Q3 FY24 as against Rs 120.50 crore posted in Q2 FY24. However, revenue from operations increased 18.13% quarter on quarter (QoQ) to Rs 371.53 crore in the qarter ended 31 December 2023. On YoY basis, the exchange and data platforms consolidated net profit surged 109.51% while revenue from operations jumped 82.16% during the third quarter of FY24.
Global Markets:
European shares advanced while Asian stocks were trading mixed on Tuesday. Investors were awaiting the Reserve Bank of Australias rate decision.
US stocks ended lower on Monday as Treasury yields spiked higher on concerns the Federal Reserve might not cut rates as much as expected. Lackluster results from McDonalds also dampened investor sentiment.
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