Banks, Financials Revive Gains: Nifty Surpasses 17,100, India VIX Slumps

  • Investing.com
  • Stock Market News
Banks, Financials Revive Gains: Nifty Surpasses 17,100, India VIX Slumps

By Malvika Gurung

Investing.com -- Leading Indian stock indices ended higher on Tuesday, erasing the previous session’s losses amid positive cues from global markets following easing global banking turmoil relieving investors, along with expectations of the US Fed turning to a less-aggressive stance at the policy meeting in the week.

Benchmarks Nifty50 ended 0.7% higher, surpassing the 17,100 mark to 17,107.5 at the close, and Sensex added 445.73 points or 0.77%.

Read Also: US Fed Policy Meet This Week: 25 or 50 Bps Rate Hike Forecasts Below

The market fear barometer India VIX tumbled over 10% in Tuesday’s session to touch 14.8 levels after zooming past 11% in the previous session.

Most sectoral indices under the Nifty umbrella ended higher, led by an up to 2% jump in Nifty PSU Bank and Nifty Financial Services . Nifty Bank ended 1.35% higher, while Nifty IT slumped 1%.

Market behemoth Reliance Industries (NS: RELI ) surged 3.2% on Tuesday and snapped an 8-day losing streak in the session.

On the Nifty pack, HDFC Life Insurance (NS: HDFL ), Reliance, Bajaj Finance (NS: BJFN ), Titan (NS: TITN ), Bajaj Auto (NS: BAJA ), SBI Life Insurance (NS: SBIL ) and Axis Bank (NS: AXBK ) were among the top gainers, while Hindustan Unilever (NS: HLL ), PowerGrid, TCS (NS: TCS ), Britannia (NS: BRIT ), Tech Mahindra (NS: TEML ) and Apollo Hospitals (NS: APLH ) exerted pressure on the index.

At 4:55 pm, key US contracts Dow Futures jumped 0.9% and Nasdaq 100 Futures rose 0.54%.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles