Stock Market: Sensex Reclaims 62000, Nifty Trades Around 18,400 Amid Mixed Cues. Metal Index Up

Stock update: On the 30-share Sensex platform, Infosys, Bajaj twins, IndusInd Bank, TechM, HCL, Tata Motors were among the early gainers

The two equity benchmarks, Sensex and Nifty, on Tuesday opened higher amid mixed global cues. At 9.50 am, the BSE Sensex went up by 211 points to 62,174. On the other hand, the NSE Nifty was trading at 18,394, up 80 points.

On the 30-share Sensex platform, Infosys, Bajaj twins, IndusInd Bank, TechM, HCL, Tata Motors were among the early gainers. On the flipside, Kotak Bank, L&T, M&M, Titan, Sun Pharma, Airtel emerged losers.

Among individual stocks, shares of BPCL gained over 1 per cent after the company reported a 159 per cent growth in net profit of Rs 6,478 crore. Shares of Dhanlaxmi Bank surged over 3 per cent after the company posted a 63 per cent growth in Q4 net at Rs 38.17 crore in Q4FY23.

In the broader markets, Nifty Midcap 100, and Nifty Smallcap 100 indices surged up to 0.4 per cent.

Sectorwise, Nifty Metal index gained the most, up over 1 per cent. Nifty Realty index, on the flipside, slipped in negative territory.

In the previous session on Monday, the S&P BSE Sensex closed 234 points higher at 61,964 level. On the other hand, the NSE Nifty settled at 18,314, up 111 points.

 

In Asian markets, Seoul, and Tokyo were trading in the green, while Shanghai and Hong Kong quoted lower. The US market ended mostly with gains on Monday.

"The silver lining lies in the fact that the looming June 1st deadline for raising the US debt limit, which could potentially lead to a financial crisis, seems to be having minimal impact on the Nifty," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Foreign Institutional Investors (FIIs) turned buyers on Monday as they bought equities worth Rs 922.89 crore after a day's breather, according to exchange data.

Global oil benchmark Brent crude climbed 0.29 per cent to $76.21 a barrel.

Meanwhile, the rupee gained 3 paise to 82.81 against the US dollar in early trade on Tuesday supported by foreign fund inflows and a positive trend in domestic equities. Forex traders said the rupee is trading in a narrow range as the broad strength of the greenback is restricting the appreciating bias.

At the interbank foreign exchange, the domestic unit opened at 82.82 against the dollar and then rose to 82.81, registering a gain of 3 paise over its previous close. On Monday, the rupee closed at 82.84 against the US currency.