Stock Market: Sensex Gains 274 Points, Nifty Around 19,450. Reliance Up 1%. Auto, Power Lead

Stock update: On the 30-share Sensex platform, Sun Pharma, Maruti, Tata Motors, Nestle, ITC, Infosys, Reliance were among the top gainers. Bajaj twins, Axis Bank, HCL, SBI, HDFC twins emerged losers

The key equity benchmarks, Sensex and Nifty, on Tuesday closed higher after paring gains towards closing, mainly on account of selling pressure in financial shares ahead of the key inflation numbers on Wednesday. The indices displayed a firm trend for the major part of the session.   

The S&P BSE Sensex rallied to the day’s high of 65,871 and eventually closed 274 points higher at 65,618. On the other hand, the NSE Nifty settled with a gain of 84 points at 19,439.

On the 30-share Sensex platform, Sun Pharma, Maruti, Tata Motors, Nestle, ITC, Infosys, Reliance were among the top gainers. On the downside, Bajaj twins, Axis Bank, HCL, SBI, HDFC twins emerged losers.

In the broader market, the BSE Midcap and Smallcap indices up nearly 1 per cent each.

Sectorally, except metal and PSU Bank, all other sectoral indices ended in the green with auto, power, FMCG, capital goods, and healthcare added 1 per cent each. Bank Nifty and Nifty Financial Services index slipped 0.2 per cent and 0.4 per cent, respectively.

In the previous session on Monday, the S&P BSE Sensex closed 64 points higher at 65,344, while the NSE Nifty50 ended at 19,356, up 24 points.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended in the green. Equity markets in Europe were trading mostly in the green. The US markets ended in the positive territory on Monday.

Foreign Institutional Investors (FIIs) continued their buying momentum as they bought equities worth Rs 588.48 crore on Monday, according to exchange data.

Global oil benchmark Brent crude climbed 0.18 per cent to $77.83 a barrel.

Meanwhile, the rupee gained 23 paise and settled for the day at 82.36 (provisional) against the US dollar on Tuesday, supported by a positive trend in equity markets and steady foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 82.42 against the US dollar and settled at 82.36 (provisional), up 23 paise over its previous close.

During the day, the domestic unit witnessed an intra-day high of 82.32 and a low of 82.43. This is the second straight day of rise for the rupee, during which it has gained 25 paise. On Monday, the rupee had settled at 82.59 against the dollar.