Indian equity market closed with gains on Tuesday amid a largely strong trend in global markets after facing bouts of volatility during the session. Sensex rose 126.41 points or 0.21 per cent to end at 61,294.20. During the day, the 30 stock index hit a high of 61,343.96 and a low of 61,004.04. Nifty climbed 35.10 points or 0.19 per cent to end at 18,232.55.
Axis Bank (2.25%), Titan (1.87%) , Tata Consultancy Services (1.54%), Tech Mahindra (1.44%), IndusInd Bank (1.15%) and Wipro (0.99%) were the top Sensex gainers.
Mahindra & Mahindra (1.13%), Reliance Industries (0.70%), Hindustan Unilever (0.69%) and Tata Steel (0.67%) were the top Sensex losers. Of 30 Sensex stocks, 18 ended in the green. Market breadth was positive with 2,032 shares closing higher against 1,491 stocks falling on BSE. 142 shares were unchanged.
Market cap of BSE-listed firms rose to Rs 284.64 lakh crore.
Consumer durables, IT shares and banking shares were the top sectoral gainers with their BSE indices rising 617 points, 188 pts and 286 points, respectively.
BSE mid cap and small cap indices rose 55 points and gained 53 points, respectively.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, “Markets were slightly volatile and moved in a range with a positive bias as investors resorted to select buying due to absence of cues from the US markets, which were shut on Monday. Surprisingly, European indices and other select Asian peers notched up significant gains and it failed to enthuse local traders in a big way. However, the trend may reverse soon as key catalyst like reports of US minutes of the meeting will be released this week. Technically, positive consolidation formation on daily charts and higher bottom formation on intraday charts is indicating the continuation of an uptrend wave in the near future. For traders 18150 would be the trend decider level. Above which, the index could rally till 18300-18350. On the flip side, below 18,150 uptrend would be vulnerable and below the same the index could slip till 18050-18025.’
Foreign Institutional Investors (FIIs) sold shares worth a net Rs 212.57 crore on Monday, according to exchange data.
Deepak Jasani, Head of Retail Research, HDFC Securities said, “Global stock markets rose on Tuesday amid growing expectations that US interest rates will rise at a slower pace this year and on optimism that China’s Covid infections may have peaked. Nifty has shown gradual upmove over the past two days with minimal intra day range. This denotes lack of conviction on either side by the participants though positive bias prevails for the time being. A move above 18265 could result in a faster upmove. On the other hand a breach of 18080 could lead to fresh downmove.”
Of 30 Sensex stocks, 18 ended in the green. Market breadth was positive with 2,032 shares closing higher against 1,491 stocks falling on BSE. 142 shares were unchanged.
Market cap of BSE-listed firms rose to Rs 284.64 lakh crore. Consumer durables, IT shares and banking shares were the top sectoral gainers with their BSE indices rising 617 points, 188 pts and 286 points, respectively.
BSE mid cap and small cap indices rose 55 points and gained 53 points, respectively.
Previous session
Benchmark indices ended higher in the first trading session of 2022, led by a rally in metal and banking stocks. Sensex rose 327 points to end at 61,167 and Nifty gained 92 points to close at 18,197. Tata Steel (1.39%), Tata Motors (1.85%), ICICI Bank (1.08%), M&M (1.38%), RIL (1.06%), and Infosys (1.03%) were the top Sensex gainers.
Global markets
Elsewhere in Asia, equity markets in Shanghai and Hong Kong logged gains, while Seoul ended lower. Equity exchanges in Europe were trading in the green in mid-session deals. Markets in the US were closed on Monday. International oil benchmark Brent crude climbed 0.34 per cent to $86.20 per barrel.
