MUMBAI,NOV 13:
After moving between gains and losses, the benchmark BSE Sensex on Tuesday ended with 332 points gain on strong buying in energy, infra and banking stocks amid fresh foreign fund inflows and recovery in the rupee.Besides, easing global crude oil prices, which slipped below the USD 70 a barrel, and rupee recovering lost ground also helped build positive sentiments.The rupee staged a strong comeback by strengthening 37 paise to 72.52 (intra-day) against the American currency.
The global benchmark Brent crude was trading down 0.98 per cent at USD 69.43 per barrel.
The BSE 30-share Sensex after resuming a tad higher at 34,846.90 quickly slipped into the negative zone to touch a low of 34,672.20, largely in sync with global sell-off.
However, hectic buying in late afternoon trade reversed the day’s losses and helped the Sensex hit a high of 35,185.17 before settling 331.50 points, or 0.95 per cent, higher at 35,144.49.
The gauge had lost 425 points in the previous two sessions.
The broader NSE Nifty after shuttling between 10,451.90 and 10,595.75 finally concluded 100.30 points, or 0.96 per cent, higher at 10,582.50.The benchmark indices turned choppy in morning trade on Tuesday and oscillated between gains and losses, driven by better-than-expected macro economic data and fresh foreign fund inflows amid global sell-off.
The 30-share index fell over 140 points in opening trade but soon recovered the lost ground to quote higher by 46.12 points or 0.13 per cent at 34,859.11.
Similar movement was seen on the wide-based Nifty, which fell by 42 points, but soon gathered momentum and was trading higher by 21.45 points or 0.20 per cent at 10,503.65.
Traders said the benchmarks opened lower tracking global sell-off, but better-than-expected macro economic data supported investor sentiment.
Besides, easing global crude oil prices, which slipped below the USD 70 a barrel mark and recovery in the rupee also supported the uptrend.
The global benchmark, Brent crude, was trading down 0.98 per cent at USD 69.43 per barrel.
Meanwhile, the rupee recovered by 29 paise to 72.60 against the US currency in early trade on Tuesday.The 30 share index had lost 425 points in the previous two days.Sectoral index, led by oil & gas, PSU, metal, power and IT gained up to 1.06 per cent.
Major gainers include Asian Paints, Coal India, Axis Bank, Adani Port, Vedanta, PowerGrid, TCS, Tata Steel and ONGC, rising up to 1.14 per cent.
The losers include Tata Motors, Sun Pharma, Bharti Airtel, Hindustan Unilever, IndusInd Bank, Bajaj Auto and Wipro, falling up to 2.26 per cent.
Meanwhile, retail inflation fell to a one-year low of 3.31 per cent in October on the back of cheaper kitchen staples, fruits and protein-rich items, official data released on Monday showed.
Industrial production grew at the slowest pace in four months at 4.5 per cent in September mainly due to poor performance of mining sector and lower offtake of capital goods.The industrial production measured in terms of Index of Industrial Production (IIP) was 4.1 per cent in September 2017.Meanwhile, on a net basis, Foreign institutional Investors (FIIs) bought shares worth Rs 832.15 crore, while domestic institutional investors (DIIs) sold shares of Rs 1,073.84 crore on Monday, provisional data showed.
Asian markets were trading lower tracking losses at the Wall Street.Japan’s Nikkei plunged 3.21 per cent, Korea’s KOSPI fell 1.52 per cent, Hong Kong’s Hang Seng down 1.23 per cent and Shanghai Composite Index shed 0.21 per cent in early trade on Tuesday.The US Dow Jones Industrial Average tumbled 2.32 per cent on Monday.Domestic market sentiments were upbeat about the fall in consumer inflation data for October.
Retail inflation fell to a one-year low of 3.31 per cent in October on the back of cheaper kitchen staples, fruits and protein-rich items, official data released Monday showed.
