Sensex, Nifty further recover on buying across the board
Markets build on gains on firm global cues; RIL leads charge
image for illustrative purpose
Renewed Risk Appetite
- All BSE sectoral indices ended in the green
- BSE Sensex up 383.21 pts to 61,350.26
- NSE Nifty surged 143 pts to 18,268.40
- Upbeat earnings from the US set the positive tone
- Tokyo and Seoul ended with gains
- Shanghai and Hong Kong in the red
Mumbai: Equity indices darted up for the second straight session on Tuesday as healthy corporate results and upbeat global cues reignited risk appetite after the recent spell of weakness.
A rebounding rupee further bolstered sentiment, traders said. The 30-share BSE Sensex opened on a firm footing, but ran into rough weather in afternoon trade, before staging a comeback to close 383.21 points or 0.63 per cent higher at 61,350.26. On similar lines, the broader NSE Nifty surged 143 points or 0.79 per cent to end at 18,268.40.
"Markets managed to end higher in a volatile trading session, thanks to firm global cues. Upbeat earnings announcements from the US markets set the tone in the beginning, however, choppiness in the index majors, especially from the banking pack, in the middle kept the participants on their toes. Indications are in favour of a further rebound, but a lot would depend on the earnings announcement scheduled in the following sessions," said Ajit Mishra, V-P (research), Religare Broking.
Vinod Nair, head (research) at Geojit Financial Services, said: "Following a strong opening backed by positive gains in global markets, domestic indices were torn between gains and losses in today's volatile trade. Broad-based buying led by auto, realty, and metal stocks aided the bourses to bell the day in positive territory. However, continuous selling by the FIIs in the market fanned investor cautiousness. Upbeat quarterly earnings outweighing inflation worries boosted the morale of global markets."
Foreign institutional investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 2,459.10 crore, as per exchange data. Tata Steel topped the gainers' chart on the Sensex, spurting 3.92 per cent, followed by Titan, Nestle India, Bajaj Finance, Tech Mahindra, Kotak Bank and Reliance Industries.
