The two key equity benchmarks, Sensex and Nifty, on Tuesday closed higher amid volatility due to heavy buying in index heavyweights such as HDFC Bank, TCS, Reliance, tracking mixed Asian cues. The 30-share BSE Sensex closed 165.32 points higher at 73,668. On the other hand, the NSE Nifty50 ended almost flat at 22,336, with a minimal increase of 3 points.
On the 30-share Sensex platform, HDFC Bank, TCS, Maruti, Infosys, Reliance, Airtel emerged gainers. On the down side, SBI, JSW Steel, ITC, Tata Motors, Nestle, UltraCemco were among losers.
In the broader market, the BSE Midcap index dropped 1.3 per cent, while Smallcap index sank 2 per cent.
Sectorally, except IT all other indices ended in the red, with realty index declined 3.5 per cent. PSU Bank and Media indices down 2 per cent each.
In the previous session on Monday, the BSE Sensex fell 617 points to 73,503, while the NSE Nifty50 closed at 22,333, down 161 points.
“The domestic market witnessed range-bound trading today after the previous day’s sharp profit booking. However, mid and small-cap stocks remained pressured, primarily due to apprehensions regarding inflated valuations,” Vinod Nair, Head of Research, Geojit Financial Services, said.
In Asia, Nikkei 225 in Japan experienced a minor setback of 0.1 percent, while the Shanghai Composite index saw a decline of 0.4 percent. Contrarily, Hong Kong’s Hang Seng surged by 3.1 percent, and South Korea’s Kospi made a modest gain of 0.8 percent.
European markets displayed upward trends during mid-session trading. In the United States, markets closed with a mixed performance on Monday.
Brent crude, a global oil benchmark, rose by 0.86 percent, reaching $82.92 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) made equity purchases amounting to Rs 4,212.76 crore on Monday.
Meanwhile, the Indian rupee remained relatively stable within a narrow range, closing 3 paise lower at 82.78 (provisional) against the US dollar on Tuesday. Market participants adopted a cautious stance awaiting the release of crucial macroeconomic data.
Forex traders attributed the marginal decline of the Indian rupee to a stronger US dollar and the rebound in crude oil prices. However, the local unit found support at lower levels due to positive domestic market sentiments and consistent foreign fund inflows over the past three sessions.
In the interbank foreign exchange market, the Indian rupee opened at 82.74, fluctuated between an intraday low of 82.78 and a high of 82.72 against the greenback, ultimately settling at 82.78 (provisional) against the dollar. This represented a loss of 2 paise compared to its previous close.
On Monday, the rupee had depreciated by 8 paise, settling at 82.75 against the US dollar.