Fag-end buying snaps 2-day losing streak
Last-hour buying in auto, power and metal shares helped by fresh foreign fund inflows
Renewed FPI Buying
• BSE Sensex rose by 204.16 pts or 0.31% to 66,174.20
• During the day, Sensex hit a high of 66,256.20 and a low of 65,906.65
• Nifty gained 95 pts or 0.48% to 19,889.70
• Tata Motors, Bajaj Finserv, UltraTech Cement, Airtel, Bajaj Finance, NTPC, Titan and Axis Bank were gainers
• ITC, HUL, ICICI Bank and Power Grid among laggards
• FIIs bought equities worth Rs2,625.21 cr
• Fresh foreign fund inflows supported indices
Mumbai: Benchmark equity indices Sensex and Nifty snapped two days of losses and closed higher on Tuesday following last-hour buying in auto, power and metal shares helped by fresh foreign fund inflows.
The 30-share BSE Sensex rose by 204.16 points or 0.31 per cent to settle at 66,174.20 in a volatile trade. The During the day, it hit a high of 66,256.20 and a low of 65,906.65. The Nifty gained 95 points or 0.48 per cent to settle at 19,889.70 as 39 of its components closed in the green and 11 ended lower.
Among the Sensex firms, Tata Motors, Bajaj Finserv, UltraTech Cement, Bharti Airtel, Bajaj Finance, NTPC, Titan and Axis Bank were the major gainers. ITC, Hindustan Unilever, ICICI Bank and Power Grid were among the laggards.
“The gradual return of FIIs in the month of November post the global sell-off during the past three months (Aug to Oct) is having a steady positivity in India,” said Vinod Nair, head (research), Geojit Financial Services.
Foreign Institutional Investors (FIIs) bought equities worth Rs2,625.21 crore, according to exchange data.
“Oil prices are stable ahead of the OPEC meeting and OMCs stand to benefit from the ease. Metal sector gained in line with expectations of Chinese stimulus, and PSU banks are doing well due to better peer performance,” Nair added.
In the broader market, the BSE midcap gauge climbed 0.30 per cent while the smallcap index gained marginally by 0.06 per cent. Among the indices, utilities rallied 3.64 per cent, power jumped 3.47 per cent, oil & gas climbed 3.13 per cent, energy (2.27 per cent), services (2.02 per cent), commodities (1.27 per cent) and metal (1.13 per cent). FMCG, industrials, telecommunication and capital goods were the laggards.
Equity markets were closed on Monday for Guru Nanak Jayanti. The BSE benchmark declined 47.77 points or 0.07 per cent to settle at 65,970.04 on Friday. The Nifty slipped 7.30 points or 0.04 per cent to 19,794.70.
In Asian markets, Seoul and Shanghai settled with gains while Tokyo and Hong Kong ended lower. European markets were trading mostly lower. The US markets ended marginally down on Monday. Global oil benchmark Brent crude climbed 1.19 per cent to $80.93 a barrel.
