Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.
Continuing their gaining streak for the third straight session, the benchmark indices closed higher on Tuesday. The gains were led by heavyweight Reliance, banking and IT stocks. The 30-share Sensex ended 550 points higher at 58,960, while its broader peer, Nifty50, ended above the 17,450 mark.
Among Sensex stocks, SBI, ITC, Nestle, Bharti Airtel and IndusInd Bank were the top gainers in today’s trading session, rising around 2-3%. M&M, Reliance, L&T, HCL Tech and UltraTech Cement also settled higher.
However, HDFC, NTPC, HDFC Bank and Tech Mahindra ended the session with cuts. Sectorally, the Nifty PSU Bank rose 3.97%, and Nifty Media surged 2.14%. Nifty Auto and Nifty Realty also closed higher. Nifty Midcap50 and Smallcap50 surged 1.60% and 0.77%, respectively.
Earlier in Asian markets, China’s Shanghai Composite plunged 0.13% while South Korea’s Kospi and Japan’s Nikkei 225 surged 1.42% and 1.36%. The rupee ended at 82.36 per U.S. dollar on Tuesday, almost unchanged from the previous session. Brent crude December futures fell 0.04 % to $91.59/ barrel.
The market capitalisation of all listed companies on BSE increased by Rs 2.81 lakh crore to Rs 274.5 lakh crore. The market breadth was skewed in favour of bulls. About 2,072 gained, 1,366 stocks declined, and 127 remained unchanged.
Mr Ruchit Jain of 5paisa.com said traders should keep a ‘Buy on dip’ approach for short term trading and look for opportunities on declines.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
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