Sensex rose 174 points and Nifty gained 43 for the second straight session, supported by banking and IT stocks. |
Mumbai: Indian stock markets ended higher for the second straight session on Tuesday. Gains in banking, IT and capital goods stocks helped lift the indices.
The 30-share BSE Sensex rose 173.81 points, or 0.21 percent, to close at 83,450.96. During the day, it touched a high of 83,598 and a low of 82,987.43.
The NSE Nifty also moved up by 42.65 points, or 0.17 percent, to settle at 25,725.40.
Top Gainers And Losers
Among Sensex stocks, major gainers included ITC, Bharat Electronics Ltd, Larsen & Toubro, Infosys, Asian Paints, Titan, Adani Ports, HCL Technologies, Sun Pharma, Maruti Suzuki, IndiGo, State Bank of India and Tech Mahindra.
On the other hand, stocks such as Eternal, Tata Steel, Trent, Reliance Industries, Mahindra & Mahindra, Bajaj Finserv, Axis Bank, Bharti Airtel, Kotak Mahindra Bank and Hindustan Unilever ended in the red.
Broader Market Performance
The broader market also showed strength. The BSE Smallcap Select Index rose 0.49%, while the Midcap Select Index gained 0.26%. This shows that buying interest was not limited to large companies but also spread to smaller and mid-sized firms.
Global Market Cues
In Asian markets, Japan’s Nikkei 225 index fell 0.47%. Markets in China, Hong Kong and South Korea remained closed due to the Lunar New Year holidays.
European markets were trading higher in mid-session deals. The US stock market was closed on Monday because of Presidents’ Day.
Institutional Activity And Oil Prices
Foreign Institutional Investors (FIIs) sold shares worth Rs 972.13 crore on Monday. However, Domestic Institutional Investors (DIIs) bought equities worth Rs 1,666.98 crore, helping support the market.
Meanwhile, Brent crude oil prices fell 0.79 percent to USD 68.13 per barrel. Lower oil prices are generally seen as positive for India, as the country imports a large amount of crude oil.
On Monday, the Sensex had surged 650.39 points, while the Nifty jumped 211.65 points, setting the tone for the current rally.
