Mid- and small-cap stocks ended on a positive note.
New Delhi: Indian stock benchmarks on Tuesday ended in the green, ending a three-day losing streak, led by strong buying interest in banking stocks and metals. The 30-share BSE Sensex rose 187 points or 0.33% to 57,809 in a volatile session, while the broader NSE Nifty rose 53 points or 0.31% to close at 17,267. During the day, both indices fluctuated between bullish and bearish before entering the positive zone.
Midcaps and small caps were positive as the Nifty Midcap 100 index gained 0.70% and small caps gained 1.72%.
10 out of 15 industry gauges – compiled by the National Stock Exchange – are colored green. Nifty PSU Bank and Nifty Metal outperformed the index, gaining 0.82%.
In terms of stocks specifically, Tata Steel was the top Nifty gainer as the stock rose 3.09% to Rs 1,219.50. Cipla, Reliance Industries, Divi’s Lab and Bajaj Finserv were also among the gainers. In contrast, ONGC, PowerGrid, SBI Life, Tata Consumer Products and Indian Oil Corp were among the losers.
Market breadth was low with 1,096 shares advancing while 2,233 stocks declined on the BSE.
On the 30-stock BSE platform, Tata Steel, Bajaj Finserv, Bajaj Finance, RIL, Asian Paints and Titan attracted the most gains with their shares up as much as 3.10%. PowerGrid, UltraTech Cement, TCS, Tech Mahindra, Kotak Mahindra Bank and L&T are among the laggards.
Adani Wilmar went up 15.30% to Rs 265.20 in its initial market launch, valuing the company at Rs 34,467
Meanwhile, the Reserve Bank of India is expected to keep its repo rate steady and increase the reverse repo at the end of its three-day meeting on Thursday.
