Indian stock market: Sensex, Nifty Snap losses in 5 days led by profit from bank stocks: 10 points
Market breadth was quite positive with 1,980 shares gaining while 1,359 stocks declined on BSE.
New Delhi:
Indian stock benchmarks on Tuesday finished in the green, ending a five-day losing streak led by strong buying interest in bank shares. The 30-share BSE Sensex rose 367 points, or 0.64%, to 57,858 in a volatile session, while the broader NSE Nifty rose 129 points or 0.75% to close at 17,278. During the day, both indices fluctuated between bullish and bearish before entering the positive zone. Sensex and Nifty rebounded strongly in year-end trades after hitting intraday lows of 56,410 and 16,837.
Here are your 10 points for this big story:
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Mid- and small-cap stocks were positive as the Nifty Midcap 100 index gained 1% and small-cap stocks gained 0.90%.
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14 out of 15 industry measures – compiled by the National Stock Exchange – are colored green. Nifty PSU Bank outperformed this index, gaining 4.24%. Nifty IT extended the decline by sliding 0.33% today.
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In terms of specific shares, Maruti Suzuki India is the top gainer Nifty as the shares surged 7.42% to Rs 8,650.10. Axis Bank, SBI, IndusInd Bank and UPL were also among the gainers. In contrast, Wipro, Bajaj Finserv, Titan, UltraTech Cements and Tech Mahindra were among the losers.
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Market breadth was quite positive with 1,980 shares gaining while 1,359 stocks declined on BSE.
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On the 30-stock BSE platform, Maruti, Axis Bank, SBI, Airtel, IndusInd Bank, PowerGrid and NTPC attracted the most gains with their shares rising as much as 6.68%. Wipro, Titan, Bajaj Finserv, TechM and Infosys are among the laggards.
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However, investors remain worried about the situation in Ukraine and amid concerns that the US Federal Reserve may shift to tighter monetary policy globally.
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Ukraine tensions: The North Atlantic Treaty Organization (NATO) says it is putting forces on standby and bolstering Eastern Europe with more ships and warplanes, in what Russia calls “hysteria”. ” of the West in response to the military buildup on the Ukrainian border.
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Global oil prices also rose on concerns about possible supply disruptions amid heightened geopolitical tensions.
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Fed announcement: The Federal Reserve kicked off its two-day meeting today, with investors starting to speculate that it was likely to announce a surprise rate hike.
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Sensex fell 1,546 points or 2.62% to close at 57,492 on Monday, while Nifty closed 468 points or 2.66% lower at 17,149. This is the biggest one-day price drop for Sensex and Nifty since November 26.
