Sensex loses 198 points; Nifty tops 17,500
Highlight
- The NSE Nifty rose 86.80 points or 0.50 per cent to 17,503.35.
- PowerGrid was the top gainer in the Sensex pack, up nearly 4 per cent.
- Elsewhere in Asia, shares in Hong Kong and Seoul ended with losses.
Equity benchmark Sensex closed with a gain of 198 points on Tuesday, tracking gains mainly in power, telecom and pharma stocks. After falling over 700 points in early trade, the 30-share index ended 198.44 points or 0.34 per cent higher at 58,664.33. Similarly, the NSE Nifty rose 86.80 points or 0.50 per cent to 17,503.35.
PowerGrid was the top gainer in the Sensex pack, rising nearly 4 per cent, followed by NTPC, Tata Steel, Bharti Airtel, Sun Pharma and Bajaj Finserv. On the other hand, IndusInd Bank, Asian Paints, Infosys, Bajaj Auto and Maruti fell up to 2.59 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said, “The domestic equity market has led the way out of the recent slump by metal, PSU bank and pharma stocks.”
US markets witnessed a selloff late yesterday despite the re-nomination of Jerome Powell as Fed Chair. The gas index remained under pressure.” ” she added.
Elsewhere in Asia, shares in Hong Kong and Seoul ended with losses, while Shanghai and Tokyo were positive. Stock exchanges in Europe were in the red in mid-session deals.
Meanwhile, international oil benchmark Brent crude fell 1.02 per cent to $78.89 per barrel.
Read also: Sensex rises over 700 points in opening trade; Nifty test 17,300
,