Sensex Ends 299 Points Higher; IT & Power Stocks Witness Buying

After opening their day in the green, Indian share markets continued their momentum and ended their session on a positive note. Gains were largely seen in the IT sector and power sector, while telecom stocks and energy stocks ended the day lower.

At the closing bell, the BSE Sensex stood higher by 299 points (up 0.8%) and the NSE Nifty closed higher by 78 points (up 0.7%). The BSE Mid Cap index ended the day up by 0.5%, while the BSE Small Cap index ended the day down by 0.3%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng was up 0.26% and the Nikkei was trading up by 0.52%. The Shanghai Composite stood higher by 1.1%.

The rupee was trading at 72.83 to the US$ at the time of writing.

From the banking sector, Yes Bank share price was in focus today as the company today released its unaudited financial results for the quarter ended September 2018.

The company reported 41% year-on-year (YoY) rise in deposits at Rs 2.23 lakh crore in Q2FY19, while the Casa ratio grew 28.2% YoY. Gross non-performing assets (NPAs) stood at 1.35% of gross advances compared with 1.82% in the corresponding quarter last year.

The bank had a liquidity coverage ratio of 101% as on September 30, 2018. This, as the bank said, is 11% points in excess of the minimum regulatory requirement of 90%.

The above figures are subject to approval by the audit committee of the board, the board of directors and by the bank’s statutory auditors.

Bandhan Bank share price was also in focus today. The share of the bank witnessed selling pressure after the RBI on Friday barred Bandhan Bank from opening new branches.

The lender said the restrictions put by the regulator on new branch opening will not hinder its growth and the management is trying its best to cut promoter holding to below 40%.

In the news from global financial markets, as per a leading financial daily, Japan’s Nikkei share average rose to a 27-year high on Monday as weakening in yen helped improve export earnings prospects for Japanese firms.