NIFTY moves up, Nifty Private Bank gains market attention as it moves 1.14% higher

The key equity barometers traded with minor gains in morning trades. Nifty moved in a range of 22701-22562. Nifty Private Bank, Nifty Chemicals and Nifty Financial Services shares gained, while Nifty IT and Nifty Realty shares fell.

NIFTY moved higher by 0.60% in last session and slumped 5.14% over last one-week.

At 12:15 IST, the barometer index, the S&P BSE Sensex, inched up 453.48 points or 0.63% to 72,835.95. The Nifty 50 index edged higher by 120.85 points or 0.54% to 22,676.60.

The broader market performed worse than frontline indices. The BSE 150 MidCap Index advanced 0.90% and the BSE 250 SmallCap Index posted modest gains of 0.80%.

The market breadth was healthy. On the BSE, 3128 shares rose and 1749 shares declined. A total of 250 shares were unchanged.

Nifty Private Bank index rallied 1.14% to 27023. The index has posted modest losses of 3.70% in last one month and inched down 2.81% over last one year. Kotak Mah. Bank, up 3.66%, led the gainers followed by IndusInd Bank, inching higher 2.02% and Axis Bank, gaining 1.52%, respectively. Out of 10 index constituents, 5 are reporting gains today.

Nifty Chemicals index climbed 1.04% to 28279. The index has declined 6.59% in last one month and moved lower by 4.10% over last one year. Deepak Nitrite, adding 3.65%, led the gainers followed by Aarti Industries, edging up 3.43% and Gujarat Fluoroch, inching higher 2.79%, respectively. Out of 21 index constituents, 18 are reporting gains today.

Nifty IT index retreated 1.16%. The index has lost 5.65% in last one month and slumped 18.49% over last one year. Tech Mahindra, slipping 2.46%, led the losers followed by Infosys, edging lower 1.27% and TCS, easing 0.80%, respectively. All 10 index constituents are reporting losses today.

Asian markets soared on Tuesday. China’s Shanghai composite is up 0.31%, Hong Kong’s Hang Seng is ahead by 0.81%. Japan’s Nikkei 225 is higher by 1.05%.

In Europe, German DAX inched higher 0.42%, UK’s FTSE 100 ticked up 0.34% and French CAC slipped 0.80%.

In Commodities, MCX Crude oil shed 1.35% to trade at Rs 8,682 per barrel.