Sensex and Nifty, the two key equity benchmarks, on Tuesday staged a turnaround due to fag-end buying after the Economic Survey 2022-23 projected 6.5 per cent GDP growth in FY24. Traders also remain watchful of the Union Budget 2023 due on Wednesday, February 1, and the US Federal Reserve's interest rate stance.
The S&P BSE Sensex Sensex closed at 59,549 levels, up 50 points or 0.08 per cent, while Nifty50 closed at 17,662 levels, up 13 points or 0.07 per cent. Both Nifty50 and the S&P BSE Sensex hit day's low of 17,537, and 59,104, respectively.
On the 30-share Sensex platform, M&M, UltraCemco, PowerGrid, SBI, ITC emerged winners. On the flip side, TCS, Bajaj Finance, TechM, Sun Pharma, Asian Paint, HCL, and others ended in the red.
In the broader markets, Nifty MidCap 100 and Nifty SmallCap 100 indices outperformed benchmark indices to close up to 2 per cent.
Sectorwise, the Nifty PSU Bank, and Nifty Media indices displayed strong performance, as they climbed up to 4 per cent. On the flipside, Nifty IT and Nifty Pharma indices were the worst hit as they dropped up to 1 per cent.
Among individual stocks, shares of Larsen & Toubro (L&T) were down 2 per cent, on profit booking after the engineering company reported a 24.2 per cent YoY rise in consolidated net profit in Q3FY23.
On the final day, Adani Enterprises' follow-on-public offer (FPO) was fully subscribed, led by non-institutional investors (3.2x), qualified institutional buyers (1.2x), and retail investors (0.1x).
The US equity futures were bogged down in Tuesday's trade ahead of the Federal Reserve's interest rate decision. Dow Jones Futures, the S&P 500 Futures, and NASDAQ Futures dropped up to 0.4 per cent. European markets, too, were subdued this noon as Stoxx 600, CAC 40, and FTSE 100 indices slumped up to 0.7 per cent.
In the previous session on Monday, the BSE Sensex settled 170 points higher at 59,500. On the other hand, the NSE Nifty rose 243 points from its day's low to end at 17,649, up 45 points.