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Sensex closes above 39,000 mark, Yes Bank gains 14 pc

ANI | July 16, 2019 04:40 PM
Investors are hoping for a rate cut by RBI next month

Mumbai (Maharashtra) [India], July 16 (ANI): Equity traded with a positive bias on Tuesday as investors shrugged off trade data release a day earlier while hoping for an additional interest rate cut by the Reserve Bank of India (RBI) next month.

The BSE S&P Sensex closed 234 points higher at 39,131 while the Nifty 50 was up 73 points at 11,661.

At the National Stock Exchange, all sectoral indices were higher except IT which lost 0.6 per cent. Nifty realty was up 1.9 per cent, PSU bank by 1.4 per cent and pharma by 1.5 per cent.

Among stocks, Yes Bank jumped 14 per cent higher to close at Rs 106.25 per share amid reports that private equity firms showed interest for a major stake in the private sector lender.

Tata Motors gained 5.8 per cent, Adani Ports by 2.8 per cent, Sun Pharma by 2.6 per cent and Bajaj Finserv 2.4 per cent.

Dewan Housing Finance Corporation, which had closed over 29 per cent down on Monday, reversed the trend and closed 4.3 per cent higher.

However, Tata Consultancy Services lost nearly 1.7 per cent. The other prominent losers were Mahindra & Mahindra, HCL Tech, Kotak Bank and UPL.

Meanwhile, major Asian equity indices moved higher as investors awaited US retail sales data and corporate earnings to gauge the state of the world's biggest economy.

Though Japanese Nikkei saw profit booking, the Hang Seng and Shanghai markets both traded in the green. (ANI)

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