Closing Bell: Last hour surge helps Sensex close 300 points higher, Nifty just below 10,950

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A strong upmove on the market through the day was followed by an even stronger end, backed by surge in the last hour in index heavweights as well as midcap stocks.

The Sensex managed to hold on to 36,000-mark that it reclaimed in the opening tick, while the Nifty has managed to end around 10,950-mark.

The Sensex is up 304.90 points or 0.85% at 36239.62, while the Nifty is up 94.40 points or 0.87% at 10947.30. The market breadth was positive as 1,652 shares advanced, against a decline of 968 shares, while 153 shares were unchanged.

All sectoral indices have ended in the green, with big gains seen in auto, energy, metals as well as PSU banks that surged the most. The Nifty Midcap index is higher by around a percent.

Reliance Industries, Wipro, GAIL and Hindalco were the top gainers, while IndusInd Bank, Sun Pharma, HPCL and IOC lost the most.

Market Update Benchmarks have extended gains in the last hour of trade. The Sensex is up over 300 points, while the Nifty is advancing towards 10,950.

The Sensex is up 304.78 points or 0.85% at 36239.50, while the Nifty is up 96.30 points or 0.89% at 10949.20. The market breadth is positive as 1606 shares advanced, against a decline of 931 shares, while 133 shares are unchanged.

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European shares edged higher on Tuesday as global markets extended their recovery rally with investors putting trade war worries on the back burner for now as attention turned to a corporate earnings season expected to deliver solid results.

The pan-European STOXX 600 index rose 0.1 percent by 0730 GMT, set for its sixth straight day of gains as strong commodities sectors continued to support the market.

Oil stocks were the biggest boost to the index, up 0.9 percent as crude prices climbed on concerns over potential supply shortages.

Disappointing results caused some of the most eye-catching falls in early trading.

Shares in interdealer broker TP ICAP sank as much as 30 percent, hitting a two-year low after the firm announced its CEO would depart and cut its synergy targets for 2019, blaming Brexit-related costs.

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Shares of Petronet LNG gained over 1.5 percent intraday on Tuesday as Deutsche Bank maintained a buy call on the stock with a target of Rs 310.

The global financial services firm said that it is confident that there is limited threat of competition for Dahej terminal. It also observed that regas margins at this plant are lowest due to capex costs.

Going forward, it expects demand growth from industrial sector as recovery in this space picks up speed.

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Results Private sector lender, IndusInd Bank, has reported a net profit of Rs 1,035.7 crore for the quarter ended on June 30, 2018. The profit has risen 24 percent from Rs 836.5 crore that it posted during the quarter last year.

The bank reported a net interest income (NII) of Rs 2,122.4 crore. The bank had previously reported the figure at Rs 1,774 crore during the corresponding quarter last year, a rise of 20 percent for the quarter.

On the asset quality front, the net non-performing assets (NPAs) ratio has been unchanged at 0.51 percent quarter on quarter. The overall net NPA figure stood at Rs 762.3 crore against Rs 745.7 crore quarter on quarter.

Meanwhile gross NPA ratio has fallen to 1.15 percent against 1.17 percent from the previous quarter. The overall gross NPAs stood at Rs 1,740.6 crore against Rs 1,705 crore.

The bank saw some increase in provisions to Rs 350 crore against Rs 310 crore year on year, while on a QoQ basis, it rose from Rs 335.5 crore. Its capital adequacy ratio stood at 14.7 percent versus 15 percent QoQ.

Nava Bharat Ventures share price rallied more than 5 percent intraday on Tuesday after the company expects strong profits from its Zambia project.

Its subsidiary Nava Bharat (Singapore) Pte Ltd holds 65 percent equity stake in Maamba Collieries (MCL), Zambia.

MCL has two power units of 150 MW each in Coal Fired Power Plant (Phase-I) at Maamba. "These Zambia units operate at 100 percent plant availability factor," GRK Prasad, Executive Director, Nava Bharat Ventures told CNBC-TV18.

Equity benchmarks on Tuesday were trading higher in the afternoon, with the Sensex holding on to its 200-point gain, while the Nifty was trading well above 10,900-mark.

The Sensex is up 236.27 points or 0.66% at 36170.99, while the Nifty is up 70.40 points or 0.65% at 10923.30. The market breadth is positive as 1567 shares advanced, against a decline of 762 shares, while 132 shares are unchanged.

Wipro, Reliance, and Hindalco are the top gainers, while Sun Pharma, Kotak Mahindra and HPCL lost the most.

Bonus issueShare price ofCheviot Companyadded 4 percent as company approved issue of bonus shares.

A board of directors of the company at its meeting held today has recommended issuance of bonus shares in the ratio of 1 fully-paid up bonus ordinary share for every existing 2 fully paid-up ordinary shares of face value of Rs 10 each held by the shareholders of the company.

The bonus issue subject to approval of the members at the ensuing annual general meeting.

Shares ofPrakash Industriesrose 5 percent as company reported strong numbers in the quarter ended June 2018 (Q1FY19).

The company Q1 net profit jumped 184 percent at Rs 168.7 crore against Rs 59.4 crore in the same quarter last fiscal.

Revenue of the company was up 51 percent at Rs 985.4 crore versus Rs 650.5 crore.

The operating profit or EBITDA was up 33 percent at Rs 240.3 crore and margin was up 780 bps at 24.4 percent.

Tata Motors June group wholesales up 12 percent at 1 lakh units. It global JLR wholesales was at 37,490 units.

At 11:54 hrs Tata Motors was quoting at Rs 275.10, up Rs 1.75, or 0.64 percent.