Bulls remained in charge at Dalal Street for the second consecutive session Tuesday as the Nifty closed above psychological 9,300-mark for the first time ever and the Sensex rallied nearly 300 points. It was driven by positive Asian cues post French election’s first round results, and positive earnings from banks. The 30-share BSE Sensex was up 287.40 points or 0.97 percent at 29,943.24 and the 50-share NSE Nifty gained 88.65 points or 0.96 percent at 9,306.60, backed by banking & financials and FMCG stocks.
Bank Nifty Outlook:
Results are due tomorrow, Axis Bank. It has got a lot of positivity because the loan growth numbers in HDFC Bank and IndusInd Bank and Yes Bank were very good. Is the tide turning for the other private sector bank as well the lenders, the corporate lenders. The broader markets also participated in the rally, with Nifty Midcap at record closing high, up 0.8 percent despite balanced market breadth. About 1461 shares advanced while 1452 shares declined on the BSE.