Indices erase early losses, end a tad higher; Nifty ends at 15,850-mark
The benchmark equity indices erased their day’s losses and ended on a flat note with marginal gains on Tuesday.
The S&P BSE Sensex rose 16.17 points (0.03 per cent) to end at 53,177.45 while the Nifty 50 settled at 15,850.20, up 18.15 points (0.11 per cent). Both the indices had opened around 0.5 per cent lower earlier in the day and traded with marginal cuts for the bulk of the session before turning positive towards the final minutes of trade.
On the Sensex pack, Mahindra & Mahindra (M&M), Reliance Industries (RIL), Dr. Reddy’s Laboratories, Tech Mahindra, Tata Steel, HCL Technologies and Larsen & Toubro (L&T) were the top gainers on Tuesday’s session. In contrast, Titan Company, Asian Paints, Bajaj Finserv, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance were the top laggards.
Among the sectoral indices, Nifty Metal index rose 1.67 per cent, Nifty Auto climbed 1.25 per cent and Nifty Oil & Gas surged 2.27 per cent. On the other hand, Nifty Consumer Durables fell 1.33 per cent, Nifty Financial Services declined 0.59 per cent and the key Nifty Bank slipped 0.50 per cent.
“After a gap down opening, domestic indices were lifted by positive global peers while oil prices rose over renewed supply concerns. The weakened rupee and rising bond yield limited domestic investors’ risk appetite. Gains in commodity-linked stocks and optimism over easing Covid restrictions in China aided the global up-move,” said Vinod Nair, Head of Research at Geojit Financial Services.
Global market
Global stocks were mostly higher Tuesday after a wobbly day on Wall Street as markets cooled off following a rare winning week. Oil prices pushed higher and US futures also advanced.
Germany’s DAX added 0.9 per cent to 13,306.38 while the CAC 40 in Paris advanced 1.4 per cent to 6,132.32. Britain’s FTSE 100 gained 1.1 per cent to 7,337.96. The futures for the Dow industrials and the S&P 500 were up 0.7 per cent.
On Monday, the S&P 500 slipped 0.3 per cent to 3,900.11. The Dow dropped 0.2 per cent to 31,438.26, and the Nasdaq slid 0.7 per cent to 11,524.55.
In Asian trading Tuesday, Tokyo’s Nikkei 225 index gained 0.7 per cent to 27,049.47 while the Kospi in Seoul added 0.8 per cent to 2,422.09. Australia’s S&P/ASX 200 climbed 0.9 per cent to 6,763.60.
Chinese shares have gotten a boost from the easing of pandemic restrictions as the country’s latest wave of outbreaks abates. Hong Kong’s Hang Seng index reversed early losses, gaining 0.9 per cent to 22,418.97, and the Shanghai Composite index jumped 0.9 per cent to 3,409.21.