Stock Market: Sensex Rises Marginally By 16 Points, Nifty Settles At 15,850 Tracking Global Recovery

 

Stock update: On the BSE, M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index, up between 1 per cent and 3 per cent

Sensex and Nifty, two key equity benchmarks, which started trade in the red recouped their losses following fag-end buying in oil and gas, IT, and auto stocks amid a recovery in global equities.

The domestic indices ended marginally higher, thus extending their fourth consecutive winning streak on Tuesday.

The BSE Sensex rose 16 points (0.03 per cent) to close at 53,177, while the broader NSE Nifty moved 18 points (0.11 per cent) up to settle at 15,850.

On the 30-share BSE platform, M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index, up between 1 per cent and 3 per cent. On the flipsdie, Titan Company, Asian Paints, Bajaj Finserv, Kotak Bank, Bajaj Finance, and ICICI Bank were the laggards, down up to 3.5 per cent.

In the broader markets, Midcap and Smallcap shares finished on a mixed note as Nifty Midcap 100 climbed 0.29 per cent lower and Smallcap shed 0.34 per cent.

On NSE, nine out of the 15 sector gauges settled in the green. Sub-indexes Nifty Auto, Nifty Metal and Nifty Oil & Gas outperformed the platform by rising as much as 1.25 per cent, 1.67 per cent and 2.27 per cent, respectively.

"After a gap down opening, domestic indices were lifted by positive global peers while oil prices rose over renewed supply concerns," Vinod Nair, Head of Research at Geojit Financial Services said.

In their previous session on Monday, BSE Sensex jumped 433 points (0.82 per cent) to close at 53,161, while the broader NSE Nifty moved 133 points (0.85 per cent) up to settle at 15,832.

The weakened rupee and rising bond yields limited domestic investors’ risk appetite, Nair said, adding that gains in commodity-linked stocks and optimism over easing Covid restrictions in China aided the global up-move.

Elsewhere in Asia, markets in Tokyo, Shanghai, Seoul and Hong Kong bounced back after initial decline and ended with gains. European markets were trading in the green in mid-session deals. The US markets had ended lower on Monday.

Meanwhile, international oil benchmark Brent crude jumped 1.58 per cent to $116.9 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,278.42 crore on Monday, as per exchange data.

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