Nifty closes higher for second day helped by bank stocks

The NSE Nifty rose by 53.50 points to close above 10,150-level, driven by gains in banking stocks after the government announced lower-than-expected borrowing programme for the first half of the fiscal year 2019.

Moreover, global equities also gained as trade war fears eased after reports of possible trade negotiations between the US and China.

Overseas, the European and Asian stocks advanced after Wall Street rebounded in previous trading session. US stocks closed sharply higher yesterday, bouncing back from strong losses in the previous session as trade tensions between the US and China appeared to ease.

The 50-issue Nifty ended above 10,150-level, by gaining 53.50 points, or 0.53 per cent, to 10,184.15. It shuttled between 10,207.90 and 10,139.65.

It saw an intra-day movement of about 68.25 points.

Sector-wise, PSU bank climbed by 2.98 per cent followed by metal 1.83 per cent, Nifty bank 0.78 per cent, pharma 0.74 per cent, private bank 0.68 per cent and finance service 0.61 per cent.

Major index gainers were IOC, Hindustan Petroleum, Hindalco, India Bulls Housing Finance and SBI.

The losers included Gail, Infratel, Bharti Airtel, Bajaj Auto and Hero Motocorp.

The market breadth, indicating the overall health of the market was in favour of gainers. On the NSE, 1,317 stocks advanced, 477 declined and 61 remained unchanged.

Total securities that hit their price bands were 279.

Turnover in the cash segment rose to Rs 33,457.53 crore from Rs 31,018.64 crore as on Monday.

A total of 15,588.79 lakh shares changed hands in 11,579,084 trades. The market capitalisation of listed firms on NSE stood at Rs 1,40,96,661 crore.