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Sensex gains 120 points led by RIL, ICICI Bank; IT stocks fall

Sensex gains 120 points led by RIL, ICICI Bank; IT stocks fall

Sensex gains 120 points led by RIL, ICICI Bank; IT stocks fall
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By Mousumi Paul  May 14, 2019 1:39:02 PM IST (Updated)

Indian benchmark indices BSE Sensex and NSE's Nifty 50 advanced in the afternoon session on Tuesday led by healthy buying in pharma and PSU bank stocks.

Indian benchmark indices BSE Sensex and NSE's Nifty 50 advanced in the afternoon session on Tuesday led by healthy buying in pharma and PSU bank stocks. At 1.30 PM, the Sensex was up 125.21 points, or 0.34 percent, at 37,216.03, and the Nifty 50 traded 43.20 points, or 0.39 percent, higher at 11,191.40.

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Among the sectoral indices, Nifty PSU Bank rose over 2 percent followed by pharma, which was up 1.5 percent. Capital goods and energy also advanced. On the other side, auto and IT sectors traded in negative territory.
Sun Pharma, Vedanta, Indiabulls Housing Finance, ICICI Bank, GAIL and ITC were among the major gainers on the key indices, whereas Tech Mahindra, TCS, HCL Technologies, Bajaj Auto, Infosys and Tata Steel were among the laggards.
Shares of Jet Airways traded over 8 percent lower after plunging 13 percent intraday after the company’s chief financial officer (CFO) resigned with immediate effect citing personal reasons.
India's wholesale inflation, as measured by the Wholesale Price Index (WPI), slipped to 3.07 percent in April, as against 3.18 percent in March. Wholesale inflation in food rose to 4.95 percent as against 3.89 percent in March. Vegetable inflation soared to 40.65 percent against 28.13 percent in March.
Asian markets were negative during Tuesday afternoon trade. Hang Seng Index declined the most by 1.63 percent or 465.75 points while Shanghai was down 0.29 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.82 percent.
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