Benchmark stock indices Sensex and Nifty rallied for the second consecutive session on Tuesday, with gains in index majors HDFC twins, Bharti Airtel and Infosys following gains in global stocks ahead of peace talks between Ukraine and Russia.
The 30-share BSE Sensex jumped 350.16 points, or 0.61%, to end at 57,943.65, with 20 constituents closing higher. During the day, the index rose 408.04 points or 0.70% to 58,001.53.
The broader NSE Nifty closed 103.30 points or 0.60% higher at 17,325.30 as 32 of its constituents closed in the green.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Reports of peace talks between Russia and Ukraine along with weakness in crude oil prices helped the trading firm in global markets.”
Among Sensex stocks, HDFC was the biggest gainer on value-buying after the recent losses. The housing finance major rose 3.06%.
After Bharti Airtel reported a hike of 2.89%, the telco may consider tariff hike and continue with ‘premiumisation’ to increase its ARPU to ₹300.
Among the major index movers, HDFC Bank rose 1.4%, UltraTech Cement 2.7%, Sun Pharma 1.62% and Dr Reddy’s 1.09%.
Kotak Bank rose 0.74% while Infosys rose 0.66%. ICICI Bank, HUL, Bajaj Finance, Asian Paints and Nestle also gained.
On the other hand, ITC was the biggest loser at 0.99%, while Tata Steel, State Bank of India, IndusInd Bank, Bajaj Finserv and NTPC also declined.
Ajit Mishra said, “For another session, markets traded highly volatile and ended with gains of over half a%. Supportive global cues led to intra-opening and thereafter benchmarks traded with a positive bias throughout the session. did business with.” , VP – Research, Religare Broking Ltd. said.
According to Rahul Sharma, Co-Founder, Equity99, “The market ended the rally with the broader indices up 0.66%. This was in anticipation of a positive outcome from the peace talks between Russia and Ukraine.”
The BSE barometer was up 231.29 points or 0.40% at 57,593.49 in the previous trade. The NSE Nifty rose 69 points, or 0.40%, to 17,222.
In the broader market, the BSE Midcap index jumped 0.66% and the Smallcap gauge rose 0.63%.
From the sectoral indices of BSE, healthcare was the biggest gainer at 1.36%, followed by basic material (1.19%), and realty (1.03%).
Losers included BSE Energy falling 0.5%, BSE Oil & Gas 0.30% and BSE Auto falling 0.19%.
Two-wheeler major Hero MotoCorp fell 7.08% to ₹ 2,208.35 on the BSE after the exchange sought clarification on a media report which claimed that ‘the IT department has filed false expenditure claims of ₹1,000 crore by Hero MotoCorp. is detected’.