Sensex rises over 100 points; Nifty near 10750

Sean Reid
May 9, 2018

Among individual stocks, ICICI Bank rallied on hopes of improvement in the lender's asset quality after it announced March-quarter results post market hours on Monday. The Bank Nifty gained 1 percent, helped by a gain of 7 percent in ICICI Bank. Should Mr Trump pull the U.S. out of a multi-nation agreement on Tehran's nuclear programme, Iranian crude exports might be affected, but analysts said it would also fan the flames of geopolitical tensions in the Middle East, which is home to a third of the world's daily oil supply. However, profit-booking by investors ahead of Karnataka elections this week trimmed the gains, with the gauge sinking to the day's low of 35,136.01. The National Stock Exchange (NSE) benchmark index held the 10,700 mark, finishing the session 2 points higher at 10,717. It touched a low of 10,689.40 intra-day.

Other gainers were Yes Bank, Axis Bank, ITC, ONGC, Dr Reddy's, Coal India, Sun Pharma, RIL, Adani Port, SBI, Bharti Airtel, Asian Paints and Power Grid, rising up to 1.73 per cent.

The 30 share index gained 180.73 points (0.51 percent) to 35388.87.

Heavy selling pressure on the capital goods and consumer durables stocks restricted further gains, market analysts said.

Overseas, Asian markets were trading higher following firm leads from Wall Street overnight.

Besides, investors were concerned over a further rise in worldwide crude oil prices as a result of USA moving away from the 2015 Iran Nuclear Deal.

The US Dow Jones Industrial average ended 0.39 percent high in yesterday's trade.

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