Sensex rises 167 points in early trade on firm global cues

Representative Image

Among the Nifty Bank Index stocks, the nine stocks that closed down were: PNB (10.39 per cent), Canara Bank (5.96 per cent), YES Bank (4.79 per cent), State Bank of India (4.59 per cent), Axis Bank (3.97 per cent), Bank of Baroda (2.82 per cent), ICICI Bank (2.64 per cent), Kotak Bank (0.39 per cent) and IndusInd Bank (0.34 per cent).

The benchmark indices Sensex and Nifty gained up to 0.42 percent on value buying by investors after recent losses on easing inflation worries and positive global cues.

However, somes gains were pared as investors booked profits in consumer durables, capital goods and healthcare stocks. Indian financial markets were shut on Tuesday for a public holiday.

In terms of the broader markets, the S&P BSE mid-cap index inched up by 0.17 per cent and the small-cap index by 0.16 per cent.

The BSE market breadth was however bearish as 1,618 stocks declined as against 1,072 advances.

Among the 50 stocks in the Nifty50 index, 37 were trading in the green, while 13 were in the red.

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The massive-sell off in the banking sector stocks was triggered after the Reserve Bank of India's (RBI) announced new norms to deal with the NPAs on Monday.

Among sectoral indices, Nifty PSU Bank index, Nifty realty and Nifty media fall.

The domestic market rose on Thursday tracking gains in global peers, but Punjab National Bank slumped for a second consecutive session to its lowest in almost four months after it unearthed fraudulent transactions of around Rs 11,000 crore.

On the currency front, the Indian rupee strengthened by 22 paise to close at 64.09 against the USA dollar from its previous close at 64.31.

Foreign portfolio investors (FPIs) sold shares worth Rs 814.11 crore on net basis on Monday, while domestic institutional investors bought shares worth Rs 1,342.70 crore, provisional data showed.

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