Stock Market Snaps 2-Day Losing Run: Sensex Gains 276 Points; Nifty Above 19,750. Metals, Pharma Lead

Stock update: On the 30-share Sensex platform, JSW Steel, Tata Steel, Titan, Reliance, Sun Pharma, Tata Motors were among prime gainers. TechM, Maruti, L&T, NTPC, SBI, TCS emerged losers

The two key equity benchmarks, Sensex and Nifty, on Tuesday snapped their 2-day losing run amid positive global cues. The domestic indices gained on index heavyweights such as Titan, Reliance Industries, HDFC Bank, ICICI Bank, and Tata Steel. The S&P BSE Sensex climbed 276 points to closed at 65,931. On the other hand, the NSE Nifty50 settled at 19,783, up 89 points.

On the 30-share Sensex platform, JSW Steel, Tata Steel, Titan, Reliance, Sun Pharma, Tata Motors were among prime gainers. On the downside, TechM, Maruti, L&T, NTPC, SBI, TCS emerged losers.

A total of 1,957 shares advanced, 1,634 shares declined, while 124 shares unchanged.

In the broader market, the BSE Midcap and Smallcap indices closed 0.14 per cent and 0.20 per cent higher, respectively.

Sectrowise, pharma, realty, and metal rose 1 per cent each, while oil & gas and capital goods down 0.5 per cent each. The Nifty Metal index rallied 1.22 per cent, followed by the Nifty Realty (1.13 per cent), and the Nifty Media (1.12 per cent). Nifty PSU Bank index dropped 0.35 per cent.

In the previous session on Monday, the S&P BSE Sensex closed 140 points down to 65,655, while the NSE Nifty50 closed at 19,694, down 38 points.

In Asian markets, Seoul settled with gains while Tokyo, Shanghai, and Hong Kong ended lower. European markets were trading on a mixed note. The US markets ended in positive territory on Monday as bond yields eased as well the dollar weakened.

Global oil benchmark Brent crude declined 0.61 per cent to $81.82 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 645.72 crore on Monday, according to exchange data.

Meanwhile, the rupee recovered from its all-time low level and settled 4 paise higher at 83.34 against the US dollar on Tuesday, tracking the weakness of the American currency in the overseas market and positive domestic equities. Forex traders said the rupee traded in a narrow range as dollar demand from oil marketing companies and sustained foreign fund outflows weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened at 83.33 and finally settled at 83.34 against the greenback, registering a gain of 4 paise from its previous close. During the day, the rupee witnessed range-bound trade reaching an intra-day high of 83.32 and hitting a low of 83.37 against the American currency. On Monday, the rupee declined 12 paise to settle at its all-time low of 83.38 against the US dollar.