Sensex Rises Marginally By 36 Points, Nifty Above 17,200 Amid High Volatility

The top Sensex gainers were Bajaj Finserv (up 2 per cent), Maruti, Titan, Tata Steel, Dr Reddy’s, Reliance, Wipro, Sun Pharma, and Bharti Airtel, trading up to 2 per cent higher

New Delhi: The Indian equity benchmarks, BSE and Nifty, on Tuesday started trading on a positive note amid a highly volatile global market. Though after 1 hour of trading, the primary indices were oscillating between gains and losses.

At 10 am, the BSE Sensex climbed marginally by 36 points to 57,658, while the NSE Nifty was up 8 points to 17,222.

In the broader market, the BSE Midcap and Smallcap indices were also in green and were up to 0.49 per cent higher.

The top Sensex gainers were Bajaj Finserv (up 2 per cent), Maruti, Titan, Tata Steel, Dr Reddy’s, Reliance, Wipro, Sun Pharma, and Bharti Airtel, trading up to 2 per cent higher. Hindalco, Eicher Motors, JSW Steel and Cipla were the additonal gainers on the Nifty.

On the other hand, PowerGrid, SBI, NTPC, HDFC, L&T, IndusInd Bank, TCS, Nestle, Infosys, Tata Consumer, and Britannia were among the losers.

“Nifty has given up the recent gains swiftly and creates doubt about the strength of the upward recovery. The RBI MPC meeting outcome on February 10, could halt or accelerate this down move. Over the next few sessions Nifty could slow its speed of fall and consolidate,” Deepak Jasani, head of retail research, HDFC Securities told PTI, adding that in the near-term 17,062-17,410 could be the band for the Nifty.

Elsewhere in Asia, bourses in Hong Kong and Shanghai were trading with losses in mid-session deals, while Seoul and Tokyo were in the green.

Asian equities consolidated recent gains as investors’ sentiment improved amid strong results by US companies, helping stocks recover from the worst start to the year since 2016, while a resurgent euro paused ahead of US inflation data. Japan’s Nikkei rose 0.4 per cent, Korean stocks went up 0.7 per cent and Taiwan gained 0.6 per cent.

Stock exchanges in the US closed on a mixed note in the overnight session.

Meanwhile, international oil benchmark Brent crude slipped 0.22 per cent to $92.49 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,157.23 crore on Monday, according to stock exchange data.

On the previous day, Sensex sank 1,024 points to close at 57,621, while the broader NSE Nifty fell 303 points to settle at 17,214.