Share Market Update: Sensex Overcomes 2-Day Losing Streak To End Marginally Higher; Nifty At 11,556

According to reports, BSE Sensex managed to snap its losing streak on the back of gains in index heavyweights RIL, L&T and Bajaj Finance.

Several industry experts believe that the market will remain volatile for the next few days. (Image: PTI)

Share Market Update: Coming out of its two-day downward trajectory, domestic benchmark BSE Sensex ended marginally higher after experiencing a volatile trade on Tuesday. According to reports, BSE Sensex managed to snap its losing streak on the back of gains in index heavyweights RIL, L&T and Bajaj Finance.  After swinging 378 points during the day, the 30-share index settled 10.25 points or 0.03 per cent higher at 38,730.82. The index hit an intra-day low of 38,435.87 and a high of 38,814.23. While on the other hand, the broader NSE Nifty ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses. During the day, the index hit a low of 11,461.00 and a high of 11,582.55. Top gainers in the Sensex pack included Bajaj Finance, Sun Pharma, Hero MotoCorp, L&T, RIL and Bharti Airtel, ending up to 5.60 per cent higher. TCS was the biggest loser in the index, dropping 2.05 per cent, ahead of its quarterly results, scheduled to be announced later in the day. Stocks of Yes Bank, ITC, HCL Tech, Maruti, Asian Paints, HDFC duo and Kotak Bank too fell up to 1.88 per cent. According to traders, gains in energy, oil and gas and healthcare stocks led to the rebound in the domestic market. Several industry experts believe that the market will remain volatile for the next few days. Elsewhere in Asia, Shanghai Composite Index, Hang Seng and Kospi ended lower, while Nikkei settled in the green. Equities in Europe were also trading lower in their respective early sessions. Meanwhile, the global oil benchmark Brent crude futures were trading 0.39 per cent higher at 64.36 per barrel. On the currency front, the Indian rupee rebounded to trade flat at 68.64 against the US dollar. On a net basis, foreign institutional investors sold equities worth Rs 401.99 crore, while domestic institutional investors purchased shares to the tune of Rs 321.13 crore, provisional data available with stock exchanges showed Monday. The Union Budget proposal to raise the public shareholding threshold to 35 per cent from the current 25 per cent and higher tax incidence for foreign portfolio investors and high networth individuals kept investors jittery, traders said.