Key mkt indices snap 5-day rout
Overall sentiment remains cautious ahead of a crucial 2-day meeting of US Federal Reserve on its rate hike trajectory; Russia-Ukraine tensions, high inflation and FIIs’ unabated selling continue to impact; Indian bourses will react to Fed meeting outcome in early trade on Thursday; No trading today (Republic Day)
Markets open on a negative note
Bargain Hunting
- BSE Sensex ended 366.64 pts higher at 57,858.15
- NSE Nifty rose 128.85 pts to 17,277.95
- Maruti spurts 7% after results
- Axis Bank, SBI, IndusInd Bank, Airtel, PowerGrid and NTPC among gainers
- Wipro, Bajaj Finserv, Titan, Infosys, Tech Mahindra and UltraTech Cement led the laggards list
Mumbai: Market benchmarks managed closed in the green on Tuesday after five sessions of steep losses as investors accumulated recently-battered banking, auto and FMCG counters amid a supportive trend in European equities. However, traders said the overall sentiment remains cautious ahead of a crucial two-day meeting of the US Federal Reserve where it will take a call on its rate hike trajectory. Russia-Ukraine tensions, stubborn inflation and unabated selling by foreign funds are the other risk factors in the near-term, they added.
After plunging below the 57,000-level in opening trade, the 30-share BSE Sensex gained momentum as the session progressed to finish 366.64 points or 0.64 per cent higher at 57,858.15. Similarly, the broader NSE Nifty rose 128.85 points or 0.75 per cent to close at 17,277.95. "After a week-long consolidation, domestic indices took a breather supported by low-level buying. Western markets also supported, staging recovery following correction in oil markets, and as uncertainties over Fed policy and geopolitical tensions eased.
