Benchmark indices Sensex and Nifty rose for the second straight session, driven by strong gains in metal and auto stocks, signalling continued recovery in Indian equity markets
Nifty and Sensex surge for second-day straight. File pic
For the second straight day, benchmark stock indices Sensex and Nifty rallied on Tuesday, closing higher by nearly 1 per cent. The upward-moving trajectory of the Indian stock indices was mainly because of the metal and auto shares, which closed on a very positive note.
The 30-share BSE Sensex jumped 567.99 points or 0.75 per cent to settle at 76,070.84. At the same time, Sensex on Tuesday surged 801.41 points or 1.06 per cent to 76,304.26.
Also, the 50-share NSE Nifty climbed 172.35 points or 0.74 per cent to end at 23,581.15.
Top gainers and losers
From the 30-Sensex firms, Eternal surged the most by 5.70 per cent. Tata Steel, Mahindra & Mahindra, Bharat Electronics, Larsen & Toubro, Bharti Airtel and Maruti were also among the major gainers.
Infosys, Bajaj Finance, ITC, Tata Consultancy Services and HCL Tech were among the biggest laggards.
In Asian markets, South Korea's benchmark Kospi jumped 1.63 per cent, while Hong Kong's Hang Seng index ended marginally higher. Japan's Nikkei 225 index and Shanghai's SSE Composite index settled lower.
Sectorally, the rebound was led by the automobile space, with the Nifty Auto index gaining 2 per cent, he added.
Crude oil prices rebound
Amid the escalating West Asia War, crude oil prices on Tuesday again rebounded by Rs 261 to Rs 8,981 per barrel in futures trade. The surge happened amid firm global trends and uncertainty over supply disruptions.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,365.52 crore on Monday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 12,593.36 crore.
On Monday, the Sensex jumped 938.93 points or 1.26 per cent to settle at 75,502.85. The Nifty climbed 257.70 points or 1.11 per cent to end at 23,408.80.
Expert opinions
Along with the Indian market, the US markets also closed in green on Tuesday. Hariprasad K, Research Analyst and Founder, Livelong Wealth, while expressing his views on the markets, said, "Indian equities extended their recovery for a second consecutive session, supported by easing volatility and selective sectoral strength, although underlying caution continues to shape market behaviour." A key positive was the sharp decline in India VIX, which dropped 8 per cent to sub-20 levels, " as per PTI.
(With inputs from PTI)
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