Last Updated:
Indian benchmark equity indices BSE Sensex and Nifty 50 were slightly lower at opening bell on Tuesday
Stock Market Update
Benchmark equity indices, BSE Sensex and NSE Nifty 50, pared the early losses, to extend gains for the second consecutive session, settling in positive territory on Tuesday.
The BSE Sensex added 363.99 points or 0.45 per cent to settle at 80,369.03. Similarly, the NSE Nifty 50 ended higher by 127.70 points or 0.52 per cent at 24,466.85.
Notably, 31 out of 50 constituent stocks of Nifty 50 ended higher, with gains led by State Bank of India, Bharat Electronics, HDFC Life, SBI Life, and Eicher Motors, extending up to 5.05 per cent. On the other hand, Maruti Suzuki India, Tata Motors, Dr Reddy’s Labs, Hero MotoCorp, and Sun Pharma were among the 19 stocks that ended in red with losses extending up to 4.16 per cent.
Among the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices ended higher by 0.92, and 0.76 per cent respectively.
Among the sectoral markets, banking and financial services stocks led the charge. The Nifty PSU Bank index ended higher by 3.64 per cent, followed by Bank Nifty at 2.07 per cent and Nifty Private Bank at 1.53 pe rcent. The Nifty Financial Services index ended higher by 2.08 per cent.
Meanwhile, Auto, Pharma, IT, FMCG, and Healthcare stock indices settled in red on Tuesday.
Global Cues
Meanwhile, markets in the Asia-Pacific region were mixed despite overnight gains on Wall Street.
Japan’s Nikkei 225 was up 0.49 per cent, while the Kospi was down 0.54 per cent and the Kosdaq was 0.92 per cent lower. In contrast, Australia’s S&P/ASX 200 was 0.47 per cent higher.
In mainland China, the CSI300 was 0.27 per cent lower and the Shanghai Composite was down by 0.16 per cent, while Hong Kong’s Hang Seng index was up 0.49 per cent.
Global stock indices rose on Monday as investors awaited earnings reports this week from several of the biggest US tech-related companies, while oil prices dropped 6 per cent after Israel’s retaliatory strike against Iran at the weekend bypassed oil and nuclear facilities.
US earnings season is in full swing, with a long list of names due to report this week including five of the biggest US companies: Google parent Alphabet, Microsoft, Facebook owner Meta Platforms, Apple and Amazon.com.
The Dow Jones Industrial Average rose 273.17 points, or 0.65 per cent, to 42,387.57, the S&P 500 rose 15.40 points, or 0.27 per cent, to 5,823.52 and the Nasdaq Composite rose 48.58 points, or 0.26 per cent, to 18,567.19.
MSCI’s gauge of stocks across the globe rose 2.44 points, or 0.29 per cent, to 847.93. The STOXX 600 index rose 0.41 per cent.
