Sensex Settles 208 Pts Higher, Nifty Up 68 Pts At 25935
"Technically, after a promising uptrend, the market has formed a Doji candle pattern on the daily charts, indicating indecisiveness between the bulls and bears": Shrikant Chouhan, Head Equity Research, Kotak Securities
MUMBAI: The Indian equity benchmarks extended gains for a third consecutive session on Tuesday, supported by positive global cues, indications of a recovery in foreign portfolio inflows following a trade agreement with the United States and selective buying in stocks reporting strong
December-quarter results.
The Sensex closed 208 points higher, or 0.25 per cent, at 84,273.92, while the Nifty 50 rose 68 points, or 0.26 per cent to settle at 25,935.15. Foreign investors purchased Indian shares worth Rs 2255
crore on Monday, provisional data showed. They have bought $1.7 billion of Indian equities so far in February, after three consecutive months of selling.
Both indices traded in a narrow range through the day, as gains were capped by profit-taking in select financial and pharma stocks.
Broader markets continued to show steady participation. Bank Nifty ended in red with a loss of 43 points at 60,626.4. The Nifty Midcap index rose 0.4 per cent, while the Nifty SmallCap index gained 0.5 per cent, indicating healthy market breadth and sustained interest in non-index stocks.
Vikram Kasat, head advisory, PL Capital said, "For the week ahead, with tariff-related concerns largely easing, the near-term market direction will depend on how the rest of the Q3 earnings season
unfolds, which has been mixed so far."
Twelve of the 16 major sectors advanced during the day. Barring pharma and PSU Bank, all other sectoral indices ended in the green. Media stocks led gains, rising nearly 2 per cent, capital market index gained 2.7 per cent while the auto index advanced about 1.4 per cent. Metal sector gained almost one per cent.
Sector-wise, the tone remained largely positive.Within Nifty, the top gainers included Eternal, Tata Steel, Bajaj Auto, ONGC and M&M, while the laggards were Shriram Finance, HCL Tech, Dr Reddy’s Labs, Bajaj Finance and Bharti Airtel.
BSE Ltd shares touched a fresh lifetime high after reporting a sharp jump in December-quarter profits. Lumax Industries surged 20 per cent to hit an upper circuit, marking a new 52-week high after strong Q3 earnings.
In the currency market, the rupee strengthened by 18 paise to close at 90.58 per dollar.
Shrikant Chouhan, Head Equity Research, Kotak Securities said, "Technically, after a promising uptrend, the market has formed a Doji candle pattern on the daily charts, indicating indecisiveness between the bulls and bears."