Equity indices show marginal gains, Indiabulls Housing Finance up by 5.4 pct

Last Updated: Tue, Aug 06, 2019 11:20 hrs
Sensex (Image Courtesy: IANS)

Mumbai (Maharashtra): Equity benchmark indices were in the positive zone with marginal gains during early trading on Tuesday despite weak global cues with the rally led by banking, realty, metal, financial services and pharma stocks.

At 10:15 am, the BSE S&P Sensex was up 174 points at 36,874 while the Nifty 50 edged up by 60 points to 10,923. At the National Stock Exchange, all sectoral indices were in the green.

Among stocks, Indiabulls Housing Finance was up 5.4 per cent to trade at Rs 502.85 per share. Hero MotoCorp gained by 2 per cent, GAIL by 1.8 per cent, IndusInd Bank by 1.7 per cent and Grasim by 1.6 per cent.

However, Zee Entertainment, Titan, Tata Consultancy Services, Kotak Mahindra Bank and Wipro witnessed some losses.

Meanwhile, global stocks extended substantial losses as China's yuan currency dropped to an 11-year low after Washington designated Beijing a currency manipulator in an escalation of trade war between the world's two largest economies.

MSCI's broadest index of Asia Pacific shares outside Japan fell by 1.5 per cent to its lowest level since January. The Shanghai Composite Index retreated by 2 per cent, Japan's Nikkei by 2.1 per cent and South Korea's KOSPI by 1.6 per cent.

Global stocks have taken a beating after US President Donald Trump said last week that he will impose 10 per cent tariff on the remaining 300 billion dollars of Chinese imports from September 1.