Market Update: Sensex up 185 points, Silver gains Rs 748

The 30-share index ended 185.51 points higher today. Similarly, the broader NSE Nifty rose 55.60 points. Gold prices also rose by Rs 328 and silver prices were up by Rs 748.

Mumbai:Market benchmark Sensex rose by 186 points on Tuesday, tracking substantial gains in index heavyweights Reliance Industries and Bharti Airtel amid positive cues from global equities. Gold prices also rose Rs 328 to Rs 39,028 per 10 gram, tracking overnight gains in global prices, according to HDFC Securities. Silver prices also moved up by Rs 748.

The 30-share index ended 185.51 points or 0.46 per cent, higher at 40,469.70. It hit an intra-day high of 40,544.13 and a low of 40,290.21. As many as 11 of 30 Sensex stocks ended in the green.

Similarly, the broader NSE Nifty rose 55.60 points, or 0.47 per cent, to end at 11,940.10.

Top gainers and losers

Reliance Industries led the gains on Sensex, rallying nearly 4 per cent as it touched its life-time high of Rs 1,514.95 (intra-day). It became the first Indian company to hit the Rs 9.5 lakh-crore market capitalisation level.

Shares of Bharti Airtel soared 7.36 per cent and Vodafone Idea rallied 34.68 per cent after both the companies announced a hike in mobile phone call and data charges from December.
Axis Bank, PowerGrid, Tech Mahindra, SBI, IndusInd Bank and Infosys were among the other gainers.

On the other hand, Yes Bank dropped 2.66 per cent to emerge as the biggest Sensex loser, M&M fell by 2.19 per cent, and Tata Steel by 2.02 per cent. TCS, Tata Motors and Hero MotoCorp also declined.

Global market

Elsewhere in Asia, bourses in Shanghai and Hong Kong settled significantly higher while those in Tokyo and Seoul settled in the red.

European equities were trading on a positive note in their respective early deals.

Meanwhile, the Indian rupee depreciated by 17 paise to 71.86 against the US dollar in intra-day trade.

Brent crude futures, the global oil benchmark, fell 0.83 per cent to USD 61.92 per barrel.

Gold and silver prices

In the previous trading session, the precious metal had closed at Rs 38,700 per 10 gram.

"Spot gold prices for 24 Karat in Delhi were trading higher by Rs 328 on Tuesday catching up overnight gains in global gold prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Silver prices also moved up by Rs 748 to Rs 45,873 per kg from Rs 45,125 per kg.

In the international market, gold was trading marginally lower at USD 1,470 an ounce, while silver was quoting higher at USD 17.10 per ounce.

"Global markets kept fluctuating on flipping US-China trade deal news. International spot gold prices kept the lower trading range near USD 1,470 per ounce, awaiting fresh triggers from the US-China trade talks," he added.