Sensex rises for 2nd straight day, ends 126 pts higher; Nifty tops 18,200

After opening in the negative territory on Tuesday, Indian equity indices bounced back amid volatile trading and closed higher on the second straight day, led by banking, financial and IT stocks.

The Nifty50 index closed 35 points or 0.19% higher at 18,232, while the S&P BSE Sensex rose 126 or 0.21% to settle at 61,294 following lacklustre global cues.

“In the absence of major economic triggers, the domestic market shifted its focus towards the Q3 earnings season, which is set to kick off this week. Banks’ initial quarterly business results revealed solid business traction supported by robust loan growth,” said Vinod Nair, Head of Research at

.

“IT and banks will take centre stage in the coming days as the trend in the market will be determined by the early signals from sector majors,” Nair added.

From the Sensex pack,

, , TCS, and were the top gainers, rising over 1%. , , , and also closed with gains.

On the other hand, M&M,

, , , and closed with cuts.

Sectorally, the Nifty Consumer Durables advanced 1.29% and Nifty Financial Services surged 0.80%. Auto, banks, pharma, realty and IT stocks also closed higher. Whereas, in the broader market, Nifty Midcap50 rose 0.24% and Smallcap50 0.37%.
Asian stock markets were mixed today. China’s Shanghai Composite rose 0.88% and Hong Kong’s Hang Seng surged 1.84%, while South Korea’s Kospi plunged 0.31%.

The rupee pared initial gains and settled 8 paise lower at 82.86 against the dollar on Tuesday, weighed down by a strong greenback overseas and sustained foreign fund outflows. The Brent crude March futures declined 0.74% to $85.28 per barrel.

Meanwhile, the market capitalisation of all listed companies on the BSE surged by Rs 84,003 lakh crore to Rs 284.64 lakh crore.

The market breadth was skewed in favour of bulls. About 2,028 stocks gained, 1,494 declined and 143 remained unchanged.



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