Bank stocks power Sensex, Nifty higher

Sensex soars 301 points reclaims 33,000-mark

While the Sensex rose 188 points to 33,137, Nifty was up 63 points to 10,229 level.

All the BSE sectoral indices except Energy were trading higher led by metal, consumer durables, auto, banks and FMCG. The gauge had rallied 352.03 points on Thursday.

Trading mood was also impacted as Fitch Ratings on Monday cut the country's GDP growth forecast for the current fiscal to 6.7 per cent from the earlier projected 6.9%.

The top losers were Bharti Infratel which feel over 2 percent followed by Coal India, Bajaj Finance, UPL and Yes Bank.

Meanwhile, foreign portfolio investors offloaded shares worth net Rs 333.59 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 776.18 crore on Tuesday, as per provisional data. SBI, ICICI Bank, Axis Bank, HDFC Bank, Bank of Baroda and Yes Bank fell by up to 1.44 percent.

However, broader gains were capped ahead of elections in Gujarat due this weekend, in a critical test for Prime Minister Modi. Results are due later this month. Here are the key highlights, which will affect the market today.

IRB Infrastructure Developers Ltd slid as much as 6.1 per cent after the company said the Central Bureau of Investigation has filed charges against it over alleged illegal purchases of government land. Participants sensed value-buying opportunities after the equities' recent lacklustre run, making stock valuations attractive, according to market participants. MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed.

The NSE Nifty50 fell by 74.15 points or 0.73 per cent to close at 10,044.10 points, while the Sensex at 32,597.18 points - down 205.26 points or 0.63 per cent. Shanghai Composite, however, shed 0.08 percent.

The US Dow Jones Industrial Average ended 0.29 per cent higher in yesterday's trade.

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