Share Market Update: Indices snap 2-day losing streak, Sensex rallies 312 pts; Nifty ends around 11,800, RIL top gainer

Making a strong comeback from early losses on Tuesday, domestic benchmark indices BSE Sensex and NSE Nifty were trading in green led by heavy gains in metal stocks and oil manufacturing companies (OMCs).

Only two of the 11 Nifty sectoral indices were trading in the red. (File Photo/ Getty)

Share Market Update: Making a strong comeback from early losses on Tuesday, domestic benchmark indices BSE Sensex and NSE Nifty were trading in green led by heavy gains in metal stocks and oil manufacturing companies (OMCs). According to market reports, S&P BSE Sensex rose 311.98 points, to end at 39,434.94, with NTPC, Reliance, Axis Bank, ITC, and Powergrid among the top gainers. Even the broader Nifty50 index was trading high at 96.80 points at higher at 11,796.45. Only two of the 11 Nifty sectoral indices were trading in the red, with Nifty Metal index gaining the highest 1 per cent. Even in the broader market, the S&P BSE MidCap index was trading 42 points, or 0.3 per cent, to 14,621, while the S&P BSE SmallCap index was trading 5 points higher at 14,069. Top gainers in today's trading session on Bombay Stock Exchange (BSE) were NTPC, Reliance, Tata Steel, Power Grid, Axis Bank and M&M, while the leading losers were Yes Bank, Asian Paints, L&T, Tech Mahindra and IndusInd Bank. JSW Steel and Vedanta were among the top gainers on the NSE index, up 1.8 per cent and 1.4 per cent, respectively. Bharti Infratel and Zee Entertainment Enterprises Ltd were among the biggest losers by percentage on the NSE index, down about 2% each. Market experts believe that the investors are waiting for the US-China trade talks to be held at the G20 summit later this week. The crude oil prices were firm on Tuesday, supported by rising geopolitical tensions between the US and Iran. “Markets are waiting for cues from important domestic triggers such as upcoming budget, where expectations are high for a pro-growth agenda, but also from some of the global events – crude prices due to tensions in Middle East and G-20 summit,” Gaurav Arora, Head of Region, Asia Pacific & Middle East at Greenwich Associates in Singapore told news agency Reuters. Meanwhile, the Indian currency appreciated by 13 paise to Rs 69.22 against the US dollar on Tuesday. Indian rupee opened marginally higher at Rs 69.32 against a US dollar at the inter-bank forex market, against yesterday's close of Rs 69.35/dollar. Later, it gained further ground and appreciated by 13 paise to touch Rs 69.22 against the US dollar.