Authorities declared a public holiday in the city due to heavy rains
Authorities declared a public holiday in the city due to heavy rains

Equity indices close higher, banking scrips underperform

ANI | Updated: Jul 02, 2019 16:30 IST

Mumbai (Maharashtra) [India], July 2 (ANI): Equity benchmark indices traded with a positive bias during second half of Tuesday as investors awaited further cues from the Union Budget due later in the week.
But trading remained thin as heavy rains lashed the country's financial capital, disrupting road, rail and air traffic. Authorities declared a public holiday in the city.
The BSE S&P Sensex closed 130 points higher at 39,816 while the Nifty 50 moved up 45 points to close at 11,910. At the National Stock Exchange (NSE), sectoral indices were mixed.
Among stocks, ONGC gained 2.9 per cent while Indiabulls Housing Finance was up 2.8 per cent. Indian Oil, Eicher Motors and UPL also showed handsome gains.
However, shares of Yes Bank tumbled nearly 8.3 per cent after reports said that Mumbai-based Radius Developers has defaulted on scheduled interest payments on a Rs 1,200-crore loan to the private lender. The company, which has delayed interest payments by 45 to 60 days, has exposure of about Rs 5,500 crore to the banking system.
Rating agency ICRA slipped over 5 per cent to Rs 3,050.10 apiece, a day after its board of directors asked Managing Director and Chief Executive Officer Naresh Takkar to go on indefinite leave, pending an enquiry into concerns raised by the Securities and Exchange Board of India.
Tata Motors was down 2.7 per cent on poor sales during June. Sun Pharma, Dr Reddy and Axis Bank also traded with losses.
Meanwhile, Asian stocks were mixed as enthusiasm over the US-China trade truce proved short-lived as weak global manufacturing activity data reinforced worries about slowing growth.
Hong Kong shares climbed as the city's market reopened after a holiday despite violent local protests overnight. Japan's Nikkei ended 0.11 per cent higher while South Korea's Kospi settled 0.36 per cent lower.