The Indian market closed with gains after three sessions on Tuesday amid buying in key indices Infosys and Reliance Industries. The Sensex closed at 61,418.96, up 274.12 points or 0.45 per cent. During the day, it gained 321.79 points, or 0.52 per cent, to 61,466.63. The Nifty closed at 18,244.20, up 84.25 points or 0.46 per cent.
IndusInd Bank (up 2.64%), NTPC (1.55%), UltraTech Cement (1.51%), Titan (1.26%), Infosys (1.17%) and Tata Consultancy Services (0.97%) were the top Sensex gainers.
The only losers on the Sensex were Nestle (0.76%), Bharti Airtel (0.48%), PowerGrid (0.37%), HDFC Bank (0.19%) and Kotak Mahindra Bank (0.13%).
The market cap of BSE-listed firms rose to Rs 281.62 lakh crore today as against a market cap of Rs 280.91 lakh crore in the previous session.
Shrikant Chauhan, head of equity research (retail), Kotak Securities, said, “Despite a sluggish start, the indices ended with smart gains, mainly aided by a recovery in European markets. The month ended with two days to close.” For , short covering saved the market. Globally, Chinese lockdown, rising interest rates and slowing demand will continue to weigh on the market in the near to medium term. Technically, after three days of price correction, the Nifty Found support around 18150 and also formed a small bullish candle on the daily chart. The 10 day SMA (Simple Moving Average) of 18272 will act as an immediate hurdle for the bulls. Above the 10 day SMA level of 18272 the index could move towards 18370 and Further upside may take it up to 18420.”
However, the market breadth was negative with 1,636 scrips falling against 1,809 scrips falling on the BSE. There was no change in 163 shares. Consumer durables, IT, capital goods and metal stocks were the top gainers in their respective BSE indices with gains of 271 points, 219 points, 179 points and 160 points, respectively.
Foreign institutional investors (FIIs) sold shares worth a net Rs 1,593.83 crore on Monday, according to exchange data.
Benchmark indices fell for the third straight session on Monday and closed nearly 1 per cent lower amid a weak trend in global equities. The Sensex closed at 61,144.84, down 518.64 points or 0.84 per cent. During the day, the index fell 604.15 points, or 0.97 per cent, to 61,059.33. The Nifty closed 147.70 points, or 0.81 per cent, down at 18,159.95.
In other Asian markets, Tokyo and Shanghai ended with gains, while Seoul and Hong Kong ended lower.
Equity exchanges in Europe were trading in the green in afternoon trade. Wall Street closed down on Monday. International oil benchmark Brent crude was trading 0.67 per cent higher at $88.04 per barrel.
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