The Nifty Bank, IT, Metal indices ended flat while Pharma (down 1 percent) was the worst performing sector.
Among sectors, except pharma and metal all other sectoral indices ended in green, while midcap and smallcap stocks ended flat.
Investors should focus on companies with low-debt (or more preferably, zero-debt), high profit margins and top-quartile return ratios
The momentum reading in the lower time frame chart are in an overbought zone.
The breadth of the market favoured the advances with 831 stocks advancing and 685 declining while 532 remained unchanged. On the BSE, 889 stocks advanced, 625 declined and 77 remained unchanged.
It is important to have a stable government at the Centre which will be able to implement the much-needed reforms for the Indian economy to keep growing at fast pace
A list of important headlines from across news agencies that could help in your trade today.
Gaurav Ratnaparkhi of Sharekhan by BNP Paribas said the bearish view holds true as long as the Nifty trades below the recent high of 10,941.
All sectoral indices closed in the green except Metal that fell 0.6 percent. All sectors gained between 0.65-1.4 percent.
Rate cut hope lifted banks, NBFCs and other rate sensitive stocks.
Ridham Desai & Sheela Rathi expect FPI flows to improve in 2019 after they turned net sellers in 2018
The breadth of the market favoured the advances with 1159 stocks advancing and 388 declining while 491 remained unchanged. On the BSE, 1189 stocks advanced, 348 declined and 58 remained unchanged.
Motilal Oswal expects domestic cyclicals driven by financials to drive earnings in second half of FY19, taking over from global cyclicals which were driving earnings growth lately
With headwinds clearing and no near term speed breakers, market have taken off ahead of the year end holidays
"Closing above 11,050 will add further strength to the ongoing (up) trend and open gates for much higher levels," said Sahaj Agrawal, DVP – Derivatives, Kotak Securities.
Mazhar Mohammad of Chartviewindia.in said as Nifty50 almost rallied around 4 percent in last two sessions it can undergo some profit booking in next one or two sessions as it is likely to test its 200 Day Moving Average (10752).
At the close of market hours, the Sensex closed up 629.06 points or 1.79% at 35779.07, while the Nifty rose 188.40 points or 1.79% at 10737.60.
After opening the day at 10,350, the Nifty has shot up to reclaim 10,500.
Experts said if the crude oil prices remain around these levels for couple of months or more then earnings could be healthy in second half of FY19
Deutsche Bank said earnings revisions risks remain to the downside, but the growth incremental is in the right direction with normalising liquidity situation
Investors will be better off not to touch high beta names until some clarity emerges with respect to General Elections 2019
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said now it is upto Das to prove his credentials.
Nagaraj Shetti of HDFC Securities said a gap up opening or a sustainable upmove in next session is likely to bring bulls back into action.
Despite Tuesday's recovery Mazhar advised traders not to get carried away and focus shall continue to remain on stock specific opportunities.
Kalpen Parekh of DSP MF advised investing in index funds provide better returns