Sensex Nears 79,600, Nifty Ends Over 24,150 As Indices Try To Navigate Shocks In US Markets

On Sensex, ITC, Hindustan Unilever, M&M, HDFC Bank, and Eternal stood among the gainers. Meanwhile, IndusInd Bank, PowerGrid, Infosys, Bharti Airtel, and Bajaj Finserv were some of the laggards.

In Asian markets, Shanghai and Hong Kong settled the session higher, while South Korea and Tokyo indices closed trading in red.

Source : Freepik

The Indian stock market ended trading on Tuesday in positive territory. However, the gains made by the benchmark indices remained muted as global markets tried to shake off the despair spread in US markets and assets.

The BSE Sensex jumped close to 200 points and settled near 79,600, while the NSE Nifty50 ended the session above 24,150, inching up 42 points. On the 30-share Sensex platform, ITC, Hindustan Unilever, M&M, HDFC Bank, and Eternal stood among the gainers. Meanwhile, IndusInd Bank, PowerGrid, Infosys, Bharti Airtel, and Bajaj Finserv were some of the laggards.

In the broader markets, the Nifty Midcap Select dominated in green and settled 1.20 per cent higher. Sectorally, the gains were driven by the Realty and FMCG indices which closed 2.42 per cent and 1.89 per cent higher respectively. The foreign institutional investors (FIIs) purchased Indian equities worth Rs 1,970.17 crore on Monday, official exchange data revealed.

Global Markets, Gold Prices, and Rupee

In Asian markets, Shanghai and Hong Kong settled the session higher, while South Korea and Tokyo indices closed trading in red. European markets traded on a mixed note. The US markets closed the session on Monday lower, with the Nasdaq Composite falling 2.55 per cent and S&P 500 taking a hit of 2.36 per cent. The global oil benchmark, Brent crude, jumped 1.61 per cent to touch $67.33 per barrel. The Indian rupee settled on Tuesday lower by 8 paise at 85.23 (provisional) against the US dollar. 

Sundar Kewat of Ashika Institutional Equity explained, "For Nifty, the highest open interest on the call side was seen at the 25,500 and 24,200 strike prices, while on the put side, it was concentrated at the 24,000 and 23,000 levels."

The muted sentiment in the market was triggered by escalating global uncertainties. US President Donald Trump recently expressed his disappointment with the US Fed Chair Jerome Powell, worrying traders about the independence of the regulatory authority. 

Gold prices hit a historic high on Tuesday as investors rushed to capitalise on the safe-haven aspect of the precious metal in a bid to safeguard their investments from market turbulence.