Stock Market Logs Third Straight Gain: Sensex Rises 152 Points, Nifty At 19,575. Realty Leads

Stock update: On the 30-share Sensex platform, Sun Pharma gained 2 per cent, followed by Titan, ITC, Bajaj Finance, Nestle, Infosys

The two key equity benchmarks, Sensex and Nifty, on Tuesday logged their third-straight gains as pharma, FMCG, and select IT stocks settled higher. The S&P BSE Sensex, which slipped over 200 points to touch a low of 65,601, rebounded and hit a high of 65,832, and eventually closed 152 points up at 65,780. On the other hand, the NSE Nifty touched a high of 19,587, and settled with a gain of 46 points at 19,575.

On the 30-share Sensex platform, Sun Pharma gained 2 per cent, followed by Titan, ITC, Bajaj Finance, Nestle, Infosys. On the downside, UltraTech Cement, Maruti, HDFC Bank, NTPC, Wipro, SBI were among the main losers.

In the broader market, the BSE Midcap index rose 1 per cent and Smallcap index gained 0.6 per cent.

Sectorwise, banks were down marginally, while other sectors ended in the green with healthcare and realty added 1.3 per cent each. Energy and Realty indices rose around a per cent each.

Ratnaveer Precision Engineering IPO was subscribed 18 times as of 03:30 pm on Day 2 of the offer period. Retail portion saw bids in multiples of 20.7 times, while demand from HNIs mounted to 35.3 times.

In the previous session on Monday, the BSE Sensex ended 241 points higher at 65,628, while, the NSE Nifty closed at 19,529, up 94 points.

In Asian markets, Tokyo settled in the green, while Seoul, Shanghai, and Hong Kong ended in the negative territory. European markets were trading on a mixed note in early deals. The US markets were closed on Monday.

According to a survey, manufacturing activities in India gained momentum in August. Meanwhile, GST collections grew by 11 per cent to over Rs 1.59 lakh crore, and domestic passenger vehicle sales hit a record in August.

Global oil benchmark Brent crude declined 0.62 per cent to $88.45 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,367.67 crore on Monday, according to exchange data.

Meanwhile, the rupee plunged by 35 paise to close at 83.06 (provisional) against the US dollar on Tuesday, amid a strong American currency and higher crude oil prices. Foreign fund outflows from the domestic equity markets also weakened the local currency.

At the interbank foreign exchange market, the local unit opened at 82.78 against the US dollar and hit the lowest level to settle at 83.06 (provisional) against the greenback, registering a fall of 35 paise against its previous close. The rupee has breached the 83-level against the dollar for the fifth time since August 14. On Monday, the rupee had settled at 82.71 against the dollar.