Stock Market Today, Sensex, Nifty Share Prices Updates: The benchmark equity indices on the BSE and National Stock Exchange (NSE) extended their gains for the second straight day, ending around 1 per cent higher on Tuesday, led by gains in pharmaceutical and financial stocks amid positive global cues.
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The S&P BSE Sensex climbed 578.51 points (0.98 per cent) to end at 59,719.74 while the Nifty 50 rose 194.00 points (1.10 per cent) to settle at 17,816.25. Both the indices had opened over 0.5 per cent higher earlier in the day and extended gains as the trade progressed.
On the Sensex pack, Sun Pharmaceutical Industries, Dr. Reddy’s Laboratories, Tata Steel, IndusInd Bank, Titan Company, Bajaj Finserv, ICICI Bank, Asian Paints, Tech Mahindra, HCL Technologies, Axis Bank and Housing Development Finance Corporation (HDFC) were the top gainers on Tuesday. In contrast, Nestle India, ITC, Infosys, Power Grid Corporation of India, Reliance Industries and Maruti Suzuki India ended lower.
All the sectoral indices on the NSE ended higher on Tuesday. The Nifty Healthcare index surged 3.44 per cent, Nifty Pharma rallied 3.08 per cent, Nifty Consumer Durables gained 2.12 per cent and Nifty Financial Services climbed 1.40 per cent.
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In the broader market, the S&P BSE MidCap index rallied 422.29 points (1.65 per cent) to end at 25,940.10 while the S&P BSE SmallCap settled at 29,442.79, up 293.01 points (1.01 per cent). On NSE, the volatility index or India VIX declined 5.72 per cent to 18.80.
“The Indian market is not seemingly apprehensive of Fed policy. Buying on dips is the strategy being reinforced here. Even the lagging IT & Pharma stocks joined the rally, slowly emerging as a value pick for long-term investors. However, to sustain the trend, the global market needs to stabilise. It makes sense to be stocks & sector specific in this unfavourable global economic scenario & highly premium valuation of India compared to the rest of the world,” said Vinod Nair, Head of Research at Geojit Financial Services.
Global Markets (from AP)
Global shares mostly rose Tuesday, after Wall Street closed higher on a late flurry of buying as investors awaited another interest rate increase by the US Federal Reserve.
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France’s CAC 40 slipped 0.5 per cent in early trading to 6,034.21. Germany’s DAX lost 0.3 per cent to 12,763.74. Britain’s FTSE 100 rose 0.3 per cent to 7,258.85. The future for the Dow industrials was unchanged while the contract for the S&P 500 edged less than 0.1 per cent higher.
Japan’s benchmark Nikkei 225 added 0.4 per cent to finish at 27,688.42. Australia’s S&P/ASX 200 jumped 1.3 per cent to 6,806.40. South Korea’s Kospi added 0.5 per cent to 2,367.85. In China, where the loan prime rate was kept unchanged, the Shanghai Composite added 0.2 per cent to 3,122.41. Hong Kong’s Hang Seng added 1.2 per cent to 18,781.42.
